Dermot Ahern (Louth, Fianna Fail)

This amendment reduces the amount, from €5 million to €2 million, that should be to the credit of the property services compensation fund after four years. This amendment responds to concerns raised on Second Stage and in submissions by representatives of the property services industry to the effect that the figure of €5 million is too high.

Amendment agreed to.

Section 75, as amended, agreed to.

SECTION 76.

Government amendment No. 62:

In page 75, subsection (3), lines 25 and 26, to delete paragraph (a) and substitute the following:

"(a) the licensee concerned did not, at the time when the loss was sustained, have a licence in force in respect of the property service to which the loss relates,".