Timmy Dooley (Fianna Fail)

The Senator will have an opportunity to respond in due course. He correctly pointed out that involving a third party, such as a peace commissioner or commissioner of oaths, to ensure the process was handled correctly was probably a better approach. As the majority of sealed bids are opened in the presence of a solicitor, there is already a level of cover.

The proposed requirement to publish the guide price is crazy, as is the proposed requirement that no property should be withdrawn in the event that a bid exceeds the guide price. Giving legal force to such a requirement would call into question the constitutional rights of vendors in terms of their ability to determine the price for which they sell their property and the person to whom they sell it. It would also result in the demise of the auction process. Many people would not attend auctions if such a regulation was introduced. We all believe auctions provide a relatively transparent mechanism in the current environment. While they may not be ideal in terms of protecting the purchaser, they offer considerable openness and transparency. I support the amendment.