Dermot Ahern (Louth, Fianna Fail)

It appears that some traditional housing developments that avail of the owners' management company structure have sinking funds in place. I believe that in such circumstances, the directors of management companies have a responsibility to provide details of the sinking funds' finances to the residents. Amendment No. 52 will mean that the obligation to provide a statement on a sinking fund will apply to this type of multi-unit development if a sinking fund is in existence.