David Stanton (Cork East, Fine Gael) | Oireachtas source

I am pleased to have this opportunity to say a few words on this Bill and to congratulate my colleague, Deputy Penrose, on bringing it forward. The reason I am speaking on this Bill is that the Joint Committee on Justice, Defence and Equality, which I chair, did some pre-legislative scrutiny of this Bill at the invitation of the Minister. We received 122 submissions, the vast majority of which were in favour of reducing the bankruptcy term from three years to one year. Prior to that, we had carried out some work on the insolvency legislation where the term was reduced from 12 years to three years, which at the time was a major change. This is a further development of that.

See this speech in context