Stephen Donnelly (Wicklow, Independent)
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61. To ask the Minister for Finance further to the sale by Bank of Ireland of its ICS Building Society loanbook to Dilosk Limited, if he will, as a substantial shareholder in Bank of Ireland, confirm the steps that have been taken to assess the suitability of Dilosk Limited to administer Irish mortgages; if the experience and background of the various directors and owners of Dilosk were examined by Bank of Ireland; and if he will make a statement on the matter. [28617/14]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that, although Bank of Ireland has recently announced it has agreed to sell the ICS distribution platform, together with €250m of mortgage loans, the completion of the sale is subject to the satisfaction of regulatory and other approvals. This regulatory approval requirement is standard for a transaction of this nature and would include the necessary due diligence relating to company operating capacity and suitability of officers. This transaction does not require my approval under the terms of the Relationship Framework Agreement.

Stephen Donnelly (Wicklow, Independent)
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62. To ask the Minister for Finance further to the sale by Bank of Ireland of its ICS Building Society loanbook to Dilosk Limited, if he will, as a substantial shareholder in Bank of Ireland, confirm the undertakings that have been provided by the buyer to adhere to the Central Bank of Ireland's code of conduct on dealing with mortgage arrears; and if he will make a statement on the matter. [28618/14]

Michael Noonan (Limerick City, Fine Gael)
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I can confirm for the Deputy that, as per its web site, Dilosk Limited has indicated that it has applied for authorisation from the Central Bank of Ireland to act as a retail credit firm. In addition to this, the company has stated that it intends to comply with all the relevant regulatory codes applicable to mortgage lending in Ireland including the Code of Conduct on Mortgage Arrears.