Seán Sherlock (Cork East, Labour) | Oireachtas source

Amendment No. 2 is a drafting amendment made by the Parliamentary Counsel to the Long Title of the Bill so as to properly reflect the amendments to be made subsequently to the Bankruptcy Act 1988. Amendment No. 7 which inserts a new section 10 in the Bill provides for amendments to a number of sections to the Bankruptcy Act 1988. The amendments to sections 17, 105, 130, 140B and 141 of the Bankruptcy Act 1988 are similar and have the objective of seeking to reduce the costs associated with bankruptcy. The Insolvency Service of Ireland has proposed that it would provide cost free a facility on its website for a bankrupt to "notice" that fact, as required by law. Currently, only publication in Iris Oifigiúil and a daily newspaper circulating in the State is permitted. This change in regard to the giving of notice could save a bankrupt person a considerable amount. The amendments to these sections of the Bankruptcy Act 1988 will allow the Minister for Justice and Equality to prescribe how notice of the adjudication is to be given by the bankrupt. The essential change is to now include the option of using the website of the insolvency service for the notice, in addition to Iris Oifigiúil. This new option can help to allay some of the concerns about the costs of bankruptcy which have been raised in recent times.

The proposed amendment to section 140A of the Bankruptcy Act 1988 is in regard to the register of insolvency decisions arising from the operation of the EU regulation on insolvency proceedings. It will permit the relevant register to be maintained in electronic format, allow for it to be open to public inspection and an inspection fee to be charged. Essentially, this is a technical amendment.

The amendments to bankruptcy law provided for in the Bill will complete the current reform of bankruptcy legislation. I am informed by the Minister for Justice and Equality of his intention soon to make a number of statutory instruments, first, to commence the relevant parts of the Personal Insolvency Act 2012 and the Courts and Civil Law (Miscellaneous Provisions) Act 2013 pertaining to bankruptcy; second, to provide for the new rules of the superior courts in regard to bankruptcy procedures to provide for fees payable in bankruptcy; and, third, for the accounts to be maintained by the official assignee in bankruptcy necessitated by the transfer of that office from the Courts Service to the Insolvency Service of Ireland. I am also informed that the insolvency service will be developing information material on bankruptcy for its website.