Written answers

Thursday, 25 March 2010

Department of Justice, Equality and Law Reform

Commercial Rent Reviews

5:00 pm

Photo of Joe CostelloJoe Costello (Dublin Central, Labour)
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Question 67: To ask the Minister for Justice, Equality and Law Reform the membership and terms of reference of the working group to look at the issue of commercial rent reviews; when he expects this group to report; and if he will make a statement on the matter. [12990/10]

Photo of Dermot AhernDermot Ahern (Louth, Fianna Fail)
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The proposed terms of reference of the Working Group to address the issue of transparency in the area of commercial rent reviews are as follows:

"To consider the operation of the current system for determining the rent payable on foot of a rent review clause, with particular emphasis on the arbitration process and the adequacy of the information available to all parties and, if necessary, to make such recommendations for change as may seem appropriate."

It is envisaged that the Group will report by 30 June, 2010.

The membership of the Group is as follows - Michael Durack SC (Chairman) Martin O'Reilly (The Irish Association of Investment Managers) David Potter (Irish Auctioneers and Valuers Institute) Niall Gaffney (Irish Association of Pension Funds) Barry Smyth (Society of Chartered Surveyors) Stephen Mackarel (Retail Excellence Ireland) Gavin Ralston SC Torlach Denihan (Irish Business and Employers Confederation) Avine McNally (Small Firms Association) Mark Fielding (Irish Small and Medium Enterprises Association) Grainne O'Carroll (Department of Enterprise, Trade & Employment) Jonathan Buttimore (Office of the Attorney General) Regina Terry (Department of Justice, Equality and Law Reform) Mary Joy (Secretary to the Working Group)

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