Louise O'Reilly (Dublin Fingal, Sinn Fein) | Oireachtas source

I move amendment No. 5:

In page 27, lines 4 and 5, to delete "49 days" and substitute "31 days".

This amendment is tabled to ensure the process does exactly what I believe is the intention, that is, to deliver a quicker and cheaper alternative to administration. We spoke about this at the Joint Committee on Enterprise, Trade and Employment and the Minister of State, Deputy English, indicated the process may not be quicker than the current administration process. I note the Minister of State, Deputy Troy, said in some instances it would be but in others it would not. That is disappointing. I know from talking to the representatives of business and industry that they will be disappointed with that too. With that in mind, I believe the timeframe for meeting in relation to the proposed rescue plan could be reduced from 49 days to 31 days. I think that is a reasonable amount of time. I am interested to hear the Minister of State's views on this proposal and on whether we can encourage and ensure there is a quicker process. The two main requirements in terms of our discussions on this were that it would be quicker and cheaper because the current process is slow and expensive. Whatever about cheaper, if it will not be quicker, that is regrettable. I would welcome the Minister of State's views.

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