Peadar Tóibín (Meath West, Sinn Fein)
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Question 12: To ask the Minister for Justice and Equality his plans regarding reform of the bankruptcy laws here; when these will be implemented; the number of persons who are bankrupt that it will affect; and the way it will impact on creditors. [14725/11]

Alan Shatter (Dublin South, Fine Gael)
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In line with a commitment in the programme for Government, a personal insolvency Bill is being developed in the Department of Justice and Equality. The Bill will provide for a new framework for the settlement and enforcement of debt and personal insolvency. The commitment made in the EU-IMF programme of financial support for Ireland is that the Bill will be published in the first quarter of 2012. It is my objective to publish the measure ahead of the EU-IMF deadline, if possible. There is a reasonable possibility we will achieve this. In developing the Bill, account is being taken of the Law Reform Commission's recommendations in its recent report on personal debt management and debt enforcement. That report provided an in-depth review of the personal debt regime. The economic and financial effects of some of the new arrangements being contemplated are being carefully assessed to ensure all relevant issues are addressed and their impact is fully anticipated and understood.

I am glad to inform the Deputy that earlier this week the Government approved my proposals for interim reforms to the law on bankruptcy. The details will be announced when the civil law (miscellaneous provisions) Bill 2011 is published. The Bill will provide for a significant reduction in the application period to the court for discharge from bankruptcy and will permit the automatic discharge of bankruptcies on the 12th anniversary of the adjudication order. According to the results of my inquiries, the new accelerated period of automatic discharge will affect approximately 365 existing bankruptcies. The impact of the personal insolvency Bill on debtors and creditors will depend on the form the Bill will take. It is clear that a good number of people could be affected. The key will be to achieve a balance, in so far as is possible, between the interests of creditors and debtors. The objective will be to create a system that avoids as much as possible the need for expensive bankruptcy procedures and court involvement.

Jonathan O'Brien (Cork North Central, Sinn Fein)
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I welcome the positive notes in the Minister's reply. When is it expected that the civil law (miscellaneous provisions) Bill 2011 will be published? When will it be brought before the House? The Minister has said it will contain some interim measures which may help. Will it be published before the summer recess?

Alan Shatter (Dublin South, Fine Gael)
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I hope the Bill will be published within the next 24 hours. It will address not just bankruptcy issues but other issues also. There is some realistic possibility that it will be enacted before the summer recess. As I am taking Dáil questions, that issue is being finalised. There is a possibility it will go to the Seanad before it comes to this House. I hope, with the help and co-operation of Opposition Deputies after they have had an opportunity to consider the content of the Bill, to bring about a position where we might enact it into law before we go on vacation for the summer.

Dara Calleary (Mayo, Fianna Fail)
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I welcome the fact that the Minister has brought this Bill so quickly. In the current climate, it is essential. The Minister can be assured of my party's full support, whatever House it comes through, in terms of trying to get this through before the summer recess.