Seanad debates

Wednesday, 27 November 2013

Companies (Miscellaneous Provisions) Bill 2013: Report and Final Stages

 

Government amendment No. 6: In page 13, between lines 26 and 27, to insert the following:“Amendment of Personal Insolvency Act 2012 9. The Personal Insolvency Act 2012 is amended —(a) in section 25, by substituting the following definition for the definition of “debt”:“ ‘debt’, in relation to a debtor, means a debt for a liquidated sum that, on the application date, is payable either immediately or at some certain future time;”,(b) in section 26, by deleting subsection (4), (c) in section 27(6), by substituting the following for paragraph (a):“(a) the information contained in the debtor’s Prescribed Financial Statement is true and accurate in all material respects, and”,(d) in section 43(3)(b), by substituting the following for subparagraph (v):“(v) the procedural requirements specified in this Chapter were not complied with; (vi) the specified debtor, by his or her conduct within the period of 6 months ending on the application date, arranged his or her financial affairs primarily with a view to being or becoming eligible for the issue of a Debt Relief Notice.”,and(e) in section 44(3), by substituting the following for paragraph (f):“(f) the procedural requirements specified in this Chapter were not complied with; (g) the specified debtor, by his or her conduct within the period of 6 months ending on the application date, arranged his or her financial affairs primarily with a view to being or becoming eligible for the issue of a Debt Relief Notice.”.”.

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