Trevor Ó Clochartaigh (Sinn Fein) | Oireachtas source

I move amendment No. 52:

In page 49, subsection (1)(b), line 21, after ?insolvent? to insert the following:?, or clearly unable to pay his or her debts as they fall due and it is unlikely that he or she will do so for the duration of the payment plan, as certified by a Personal Insolvency Practitioner?.

This amendment refers to the criteria of personal insolvency arrangements. The Bill stipulates that to qualify for a debt settlement arrangement a debtor must be insolvent. In our view this should be broadened and made clearer. This is what we are seeking to do with amendment No. 52.

The objective of the change in the wording in amendment No. 75 is to compel the practitioner to do his or her job effectively. Section 77(2) states: "Where it appears to the personal insolvency practitioner concerned that there has been a material change in the debtor's circumstances which would affect his or her ability to make repayments under the Debt Settlement Arrangement, the personal insolvency practitioner (whether on his or her own initiative or at the request of a creditor) may call a meeting of creditors to be held in accordance with this section." We seek to insert "shall" instead of "may" to make it imperative. It appears the Minister took some note of this when it was debated in the Dáil. I would welcome the Minister's comments on this potential change.