Seanad debates

Tuesday, 4 December 2012

Personal Insolvency Bill 2012: Committee Stage (Resumed)

 

6:45 pm

Photo of David NorrisDavid Norris (Independent) | Oireachtas source

I understand the motivation behind the amendment to make life easier, particularly in the repayment of debt. However, I was struck by the use of the word "any", when I read the amendment first, which seems to be broad. I was going to whisper to Senator Quinn that perhaps he should take it out but then I thought my advice might not be well timed because he knows more about finance than I do. However, it appears as if that is part of the problem because it would be strange, as the Minster said, to allow somebody to open a bank account with extensive credit facilities. I had not thought about this, until he drew it to the attention of the House, but it would be absurd to privilege debtors over ordinary citizens. If the amendment were accepted, the Minister would grant automatic rights to a bank account to a debtor, which do not exist for the ordinary citizen. I do not see any reason for privileging debtors until each citizen has been declared a debtor, in which case there would be inequality. That day may be sooner than we think.

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