Michael D'Arcy (Fine Gael)

Last week I referred to the issue of those who are collecting assets on behalf of lending institutions. When I sought legal opinion in respect of the current position in this regard, I was informed that it seems lending institutions are doing whatever they want and are flouting the law. Under the law as it currently stands, the only people who can take possession of properties from other individuals are the county sheriffs. I am not referring to tax sheriffs but rather county sheriffs. Outside of Dublin and Cork, county registrars act as county sheriffs. County sheriffs can only take possession of properties on foot of court judgments being handed down and the making of court orders in respect of such judgments. When a suitable order is handed down, a county sheriff or someone acting on his or her behalf has the authority to enter someone's property and repossess either that property in its entirety or contents contained therein.

Members continually refer to the relevance of this Chamber. It will have no relevance unless we can put in place a structure or procedure that will allow us to bring to the notice of members of the public the current law governing this area. No one other than a person with the support of the law can enter someone else's property. The financial institutions are not adhering to the law and they are being allowed to act as they see fit. I call on the Leader to give Members the opportunity to debate this matter with the head of financial regulation at the Central Bank. Lending institutions are making it up as they go along and are dealing with this matter as they see fit. Perhaps there could be unanimous agreement among Members on both sides that the head of financial regulation at the Central Bank be brought before the House following next week's break. We could then put it to him that policy being pursued by the financial institutions flies blatantly in the face of the law. We must try to ensure that these institutions will not be allowed to continue to deal with this matter as they see fit by asking the head of financial regulation at the Central Bank to deal directly with them in respect of it.