Seanad debates

Wednesday, 2 October 2013

Upward Only Rent (Clauses and Reviews) Bill 2013: Second Stage

 

2:30 pm

Photo of Aideen HaydenAideen Hayden (Labour) | Oireachtas source

That is legislation going forward, as the Senator well knows. Regarding legalities, we must also take into account Article 15.5.1° of the Constitution, which reads: "The Oireachtas shall not declare acts to be infringements of the law which were not so at the date of their commission." This is the reality. I am not suggesting for a moment that something cannot or should not be done about upward only reviews, but we must also be careful about unforeseen consequences.

Senator Darragh O'Brien mentioned Eagle Star, Irish Life, pension funds and so forth, but the bottom line is that many commercial leases are owned by pension funds. It is the ordinary person on the street-----

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