Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

Amendment No. 64 replaces the existing subsection with revised text to make it clear that unless the creditor otherwise agrees in writing and provision to that effect is made in the terms of the debt settlement arrangement, a preferential debt shall, subject to subsection (3), be paid in priority by the debtor and where those debts are to be paid in priority the provisions of section 81 of the Bankruptcy Act 1988 shall apply with all necessary modifications.

Amendment No. 65 proposes the insertion of an interpretation provision in regard to preferential debt, as referred to in this Chapter of the Bill. Amendment No. 72 deletes subsections (3), (4) and (5) of section 68 and substitutes them with a new subsection (2). The provisions at the previous subsection (3) are now being dealt with by the insertion in amendment No. 133 of an express provision regarding the treatment of debts in other currencies. The previous subsection (4) is no longer required because it refers back to the provisions of section 60(2)(c), which was deleted by amendment No. 60. The provisions of previous subsection (5) have been refined to create a new subsection (2).

Amendments Nos. 104 and 105 relate to preferential debt. Amendment No. 104 replaces the existing subsection with revised text to make it clear that unless the creditor concerned otherwise agrees in writing and provision is so made in the terms of the personal insolvency arrangement, a preferential debt shall, subject to subsection (3), be paid in priority by the debtor and where those debts are to be paid in priority the provisions of section 81 of the Bankruptcy Act 1988 shall apply with all necessary modifications. It is my intention to bring forward an amendment on Report Stage to improve the text of the current section 81 of the 1988 Act. Amendment No. 105 proposes to insert an interpretation provision on preferential debt, as referred to in this Chapter of the Bill.