Results 8,221-8,240 of 19,162 for speaker:Alan Shatter

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Before the Senator replies, considering that while all of that happiness was taking place we were all captured in here, we might have a two minute rendition. What does the House think? It might lighten the mood from insolvency, people being mired in debt and all of the levels of depression we must focus on until 9 p.m.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: The Senator can draw me out further on that one.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendments Nos. 87 and 128 are technical drafting amendments to ensure consistency in the text and provide for a better reference to the action that may be taken by the court if procedural arrangements are not complied with by the debtor.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: The amendment relates to the review process. It would reduce the period of commencement of a review of the operation of a personal insolvency arrangement under the legislation from five years to one. I have examined the issue of the length and scope of the review period and had hoped to be in a position to address it today. However, I intend to introduce an amendment on Report Stage to...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendment No. 71 proposes to delete section 67(3) and to replace it with new text in order to make the provisions consistent with similar provisions in the Bill, such as those in section 65(2). It also provides that where an amended debt settlement arrangement proposal is prepared, the personal insolvency practitioner should also be required to furnish this proposal to the insolvency...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: It is very important that individuals in these circumstances are incentivised to work. In practical terms, this means that if they work harder or work overtime or their business is successful that they retain some additional portion of the moneys they earn. The proposal put forward by Senators Crown and Barrett seeks to have any variation of repayments in a debt settlement arrangement or...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: The co-ordination here is remarkable, amendment No. 78 to section 78. What are the odds? This is a technical drafting amendment required to ensure consistency with similar provisions in regard to creditors' meetings at section 65, providing for a 14 day notice to creditors.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendments Nos. 79 to 82 refer to section 79 of the Bill and seek to increase the time period where an application by a creditor or personal insolvency practitioner is made to the appropriate court to have a debt settlement arrangement terminated, where the debtor has been in arrears with payment for a period of not less than "3 months" to a period of "6 months". The context of the debt...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: This section deals with debt settlement arrangements and the terms of a proposal for a debt settlement arrangement. Debt settlement arrangements are applied to unsecured debt without any particular limits being set. To take a simple example, if somebody has a debt of ¤30,000 that is not secured - let us assume it is not a mortgage - it can be dealt with pursuant to the debt settlement...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendment No. 64 replaces the existing subsection with revised text to make it clear that unless the creditor otherwise agrees in writing and provision to that effect is made in the terms of the debt settlement arrangement, a preferential debt shall, subject to subsection (3), be paid in priority by the debtor and where those debts are to be paid in priority the provisions of section 81 of...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: This is a technical drafting amendment. It amends the existing text of section 63 to include a necessary cross-reference to section 57.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendment No. 67 is a drafting amendment to improve the text. It provides in subsection (3)(b) for more specific reference to the documents required to be given to the creditors under section 66. Subsection (4) is being substituted with new text that makes it clear that where a creditors' meeting does not take place before the expiry of the protective certificate, the debt settlement...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Essentially, the reason is that the Parliamentary Counsel has had to work on a very substantial number of amendments. There will be some further amendments coming forward on Report Stage and this is an issue to be revisited. A lot of the Parliamentary Counsel's time was spent, apart from dealing with the amendments we have already addressed, on the structure required for the regulatory...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendment No. 55 will replace the current section 56 and substitute it with an improved and extended text on the process whereby the Insolvency Service refers an application for a protective certificate in respect of a debt settlement arrangement to the court. The new elements concern situations where the Insolvency Service is dissatisfied with the application and may require a revised...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendments Nos. 57 and 58 are technical drafting amendments advised by Parliamentary Counsel to improve the text. Amendment agreed to.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendment No. 62 is a technical amendment. The same applies to amendment No. 102. Amendment agreed to.

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: Amendment No. 63 provides for a new subsection to section 61 which sets out how the costs and charges are to be apportioned in a debt settlement arrangement unless the arrangement already makes such provision. The amendment provides that where an arrangement requires payment to a creditor, the creditors will be those holders of excludable debt, as defined in section 2, who have consented to...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: The three amendments tabled by the Senator propose the insertion of a reference to contingent liabilities. For debts to be covered as specified debts in the context of a debt relief notice, a debt settlement arrangement or a personal insolvency arrangement, they must be revealed by the debtor to the personal insolvency practitioner at the commencement of the application process concerning...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: I do not believe this amendment is necessary and it could give rise to some confusion. Section 53 deals with the issue of ordinary residence. In the context of the interaction between "domiciled" and "ordinarily resident", I am advised that one cannot state that "domiciled" encompasses "ordinarily resident" since it does not necessarily do so. The concepts are separate. To be domiciled in...

Seanad: Personal Insolvency Bill 2012: Committee Stage (Resumed) (4 Dec 2012)

Alan Shatter: We have done this already. It is an either-or situation and it is in the Bill already.