Eugene Regan (Fine Gael)

I second the amendment, which is similar to amendment No. 21 that I tabled but which has been ruled out of order because of its references to value added tax and the manner in which it should be calculated. As Senator Bacik has indicated, there was a debate on this issue on Committee Stage. The purpose is to ensure complexes are properly completed and the nub of the issue is how to determine the date of completion and what constitutes completion. However, that is a general problem to which the Minister referred earlier in today's debate and which must be clarified in the Bill. In itself however, that is not a justification for failing to adopt this approach of holding on trust 5% of the purchase price by an owners' management company. There must be some leverage by which people cannot simply walk away from a development without a price being paid for so doing. I do not believe there is a dispute in respect of the principle in this regard. The issue is about how it would be implemented and that has to do with the issue of completion, determining what constitutes completion and who certifies that. I commend the amendment to the Minister.