Results 10,321-10,340 of 19,162 for speaker:Alan Shatter

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 95:In page 50, to delete lines 41 to 43 and substitute the following:"(e) a schedule of the creditors of the debtor and the debts concerned, stating in relation to each such creditor—(i) the amount of each debt due to that creditor, and".

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 96:In page 51, to delete lines 1 to 6 and substitute the following:"(f) the debtor's written consent to—(i) the disclosure to the Insolvency Service, (ii) the processing by the Insolvency Service, and (iii) the disclosure by the Insolvency Service to creditors of the debtor concerned,of personal data of that debtor, to the extent necessary in respect of the Debt...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 97:In page 51, to delete lines 7 to 9 and substitute the following:"(g) the debtor's written consent to the making of any enquiry under section 55 relating to the debtor by the Insolvency Service.".

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 98:In page 54, line 36, after "process" to insert "in respect of a specified debt".

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 99:In page 54, line 40, after "Arrangement" to insert the following:", but this subsection shall not operate to prohibit the commencement or continuation of any criminal proceedings against the debtor".

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I am a little confused by this proposal. Deputy Collins raised a similar point on Committee Stage in regard to adding a reference to the debtor being able to object to the court in regard to the issuance of a protective certificate. The only reason a protective certificate would be issued is to protect the debtor. Therefore, it is difficult to understand how the debtor would object to...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: Yes.

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: No. The insolvency service cannot do so.

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: The process envisages that on the issuing of a protective certificate, engagement may occur to resolve matters using the intermediary between debtor and creditor. Ultimately, if things work out based on the provisions of the legislation, an agreement will be reached as to the debt resolution mechanism and the arrangements thereunder. The matter will then be passed to the insolvency service,...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 101:In page 55, line 29, to delete "the order" and substitute "an order".The amendments are technical drafting amendments to improve the clarity of the text of the Bill.

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: The Deputy's amendments seek to reduce the maximum duration of a debt settlement arrangement from 60 to 36 months and in the case of a personal insolvency arrangement, from 72 to 48 months. I have no doubt that these proposals are motivated by a desire to assist people struggling with debt to return to a more normal situation. However, normality can be a difficult concept to define. The...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: There are a lot of other creditors out there. They are not all banks.

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I will reply, first, to the Deputy's example of his constituent in Wicklow. The answer to that is blindingly obvious and the financial institutions will have to address that issue properly. Where someone has either no income or a reduced income, their only asset is the family home which has dropped in value by two thirds and is therefore in negative equity, and where the individual has no...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: It will not recoup the extra two thirds and if that individual has no other assets, even if the institution is not willing to write off formally the outstanding debt, there is no way it will ever recover it. For individuals in this position, there is one message and one message only to the financial institutions, which is to use the personal insolvency arrangement, PIA, to effect what...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I believe the answer to this is one could not. For example, in the current climate some people may have been in arrears for the past three years and while the banks have not dealt with overall settlements, they have engaged in substantial forbearance for tens of thousands of people. This is a reality. Members properly kick their absent friend, Deputy Ross, who has not engaged in this Bill...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 103:In page 60, to delete lines 42 to 45 and substitute the following:"require the debtor to—(a) dispose of an interest in, or (b) cease to occupy,all or a part of his or her principal private residence and the personal insolvency practitioner shall consider any appropriate alternatives.".The purpose of these drafting amendments is to improve the clarity and...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 104:In page 61, line 36, to delete "that".These are essentially technical drafting amendments to remove superfluous words from the provisions. We are taking a principled stance on superfluous words.

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 105:In page 62, to delete lines 7 and 8 and substitute the following:"(b) ensure that a copy of the documents referred to in section 66 are sent to each creditor concerned with the notice calling the meeting;".The purpose of these amendments is to clarify the requirements in sections 65 and 102 regarding the documents that must be supplied to creditors in advance of the...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 106:In page 63, lines 23 and 24, to delete "regulations made under it" and substitute "any regulations made under that section".The purpose of the amendment is to clarify that the regulations referred to in section 67 are the regulations to be made under section 69 regarding the holding of a creditors' meeting, which will be particularly important in the working of the...

Personal Insolvency Bill: Report Stage (Resumed) (7 Nov 2012)

Alan Shatter: I move amendment No. 107:In page 63, line 44, to delete "subsection (5)" and substitute "subsection (6)".These amendments correct cross-referencing errors in the text of section 67.