Damien English (Meath West, Fine Gael)
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Question 164: To ask the Minister for Finance if he has plans to review the interaction of the Electronic Commerce Act 2000 and the Consumer Credit Act 1995 in order to remove the prohibition on the use of electronic signatures in the provision of consumer credit agreements; and if he will make a statement on the matter. [22653/08]

Damien English (Meath West, Fine Gael)
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Question 165: To ask the Minister for Finance if he has plans to review the Consumer Credit Act 1995 insofar as it requires written communications relating to credit agreements to be sent in paper form; and if he will make a statement on the matter. [22654/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 164 and 165 together.

The Consumer Credit Act 1995, regulates the provision of consumer credit in Ireland. Section 30 of the Act requires credit agreements to be made in writing and signed by the consumer and by or on behalf of all other parties to the agreement.

Section 11(d) of the Electronic Commerce Act 2000, states the nothing in that Act shall prejudice the operation of the Consumer Credit Act 1995, thus exempting the conclusion of credit agreements from the scope of the Electronic Commerce Act.

The recently-adopted Directive on credit agreements for consumers, (2008/48/EC), lays down harmonised rules for aspects of the provision of consumer credit in EU Member States, including information to be included in advertising and in pre-contractual and contractual documentation.

The Directive provides that pre-contractual information, credit agreements, statements of account and notice of withdrawal or termination may be drawn up on paper or on another durable medium. Durable medium is defined in the Directive as "any instrument which enables the consumer to store information addressed personally to him in a way accessible for future reference for a period of time adequate for the purposes of the information and which allows the unchanged reproduction of the information stored".

Transposition of the Directive into Irish legislation will require substantial amendments to the Consumer Credit Act 1995, including to those provisions relating to the conclusion of credit agreements in writing. Consequent amendments to the Electronic Commerce Act 2000, may also be necessary and I will consider this matter further in the context of the transposition process in consultation with the Minister for Communications, Energy and Natural Resources and with the Financial Regulator, in view of its statutory consumer protection role. The Directive is to be transposed not later than 12 May 2010.