Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

I had the very same query during drafting of the Bill. I am happy to give the Deputy the clarification I received. It eased my concerns and I hope it will ease hers. Officials from my Department considered this point in detail in consultation with the Attorney General and the advisory council, and examined how best to guarantee that creditors received the various notices required under the Bill.

In doing so, we examined existing provisions in examinership, general notice requirements under the Companies Act 2014, notice requirements under the rules of the Superior Court as they relate to examinership, as well as notice requirements under the Personal Insolvency Act 2012. The Bill, as drafted, is consistent with the notice requirements in all cases. Placing an obligation on the process adviser to provide proof that the creditor received the reminder notice raises the practical issue of how he or she is expected to do this and the consequence effect this may have on the timelines outlined in the Bill.

First, the process adviser would need to send a notice by registered post or to seek further confirmation by way of email that the notice was received. Registered post can be only delivered where the individual is available to receive it. In the event it is not capable of being delivered within the timelines set out in the section, this would impact the delivery of the rescue plan. There are also significant cost implications given that, on its own, the cost of sending a registered letter is €8.20, but very often there can be in excess of 100 creditors and that would amount to a significant cost each time a notice is issued.

Second, unless the notice is sent by registered post it is not within the control of the process adviser to confirm that a creditor has received it. It would not be practical or fair for the process adviser to provide proof that the reminder notice was received by the creditor concerned. He or she is reliant on the creditor concerned providing him or her with this proof. Under the Bill as currently drafted, the process adviser is obliged to retain proof which demonstrates how a notice was issued. Failure to do so will result in the process adviser being guilty of a category 3 offence. There are also further provisions which require the notice of appointment of the process adviser to be placed in a prominent position on the company's website and published in Iris Oifigiúil, thus making information publicly available.

I am satisfied the notification requirements in this Bill are robust and, therefore, I do not intend to accept this amendment.

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