Sean Barrett (Independent)

There were obviously gremlins in the works when it came to the my copy of the Minister's script. It is said that if Sam Goldwyn, the Hollywood studio mogul, was sent a script with two pages stuck together, it was returned - rejected - with the two pages still stuck together. That did not happen today. It is also said the same thing happened in the Abbey Theatre when a frustrated playwright received a script back with two pages stuck together.

Section 33 of the Bill relates to the Taxing Master. I agree with Senator Paul Bradford on the retirement age. On several occasions the Minister referred to the EU-IMF agreement which specifies that the retirement age will move to 66 years in 2014, 67 in 2021 and 68 in 2028. He has also stated a great deal is being done to comply with the agreement to which I refer. The retirement age should be extended even further. As several Senators indicated, there is a general principle when it comes to the retirement age. The retirement age for gardaí is far too low. It was challenged by a number of officers, but they lost their cases. It is anomalous to be reducing the retirement age when people are living longer and the pension burden is increasing.

Section 33 also contains a provision which extends the eligibility criteria relating to those who may be appointed to the position of Taxing Master to accountants. The Minister should delay the implementation of this provision because there is a great deal of dissatisfaction regarding - this is not the case with the Minister's profession - the lack of a disciplinary procedure. We are still waiting for the Chartered Accountants Regulatory Body, CARB, to decide on issues such as the movement of funds in and out of banks. In order that accountants might qualify to be appointed to the position of Taxing Master, this matter should be put in order. If the Minister wishes to launch a campaign to make accountants accountable, I will join it. They should certainly satisfy the standards which those in other professions are obliged to meet.

The final matter on which I wish to comment is bankruptcy. I suppose the Minister who has reduced the term from 12 years to five will believe us to be ungrateful. There are those who are of the view that the term should be three years, while the Master of the High Court, Edmund Honohan, has indicated that in the United Kingdom the term is only 12 months. On 15 May the Master of the High Court also stated:

It's strange that the Law Reform Commission of 2004 recommended that special and careful consideration be given before any family home was sold, but this has not yet been put into law. Now is the time to do it.

In the context of the reduction in the period of bankruptcy from 12 years to five, the waters have been muddied by the conduct of the banks, upon which no such constraints have been placed. One almost gets the impression that bankers in Ireland are giving those who are bankrupt a bad name. While I strongly support the direction in which the Minister is moving, I ask that he consider the context and perhaps examine the possibility of reducing the bankruptcy term even further.