Louise O'Reilly (Dublin Fingal West, Sinn Fein)
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337. To ask the Minister for Finance if he will advise of the duties and obligations of financial institutions where a property in need of remediation work is repossessed by the lender bank, where failure to carry out the works will result in impacts on the other properties in the apartment block; if they have any obligation to carry out remediation; if not, the recourse available to recoup any losses to an owner occupier who has been impacted by this failure to remediate; and if he will make a statement on the matter. [1179/25]

Jack Chambers (Dublin West, Fianna Fail)
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As Minister for Finance, I have no function in this area.

The duties and obligations of owners of apartments that are in need of remediation work are governed by the relevant provisions of the Multi-Unit Developments Act 2011 and the Property Services (Regulation) Act 2011. These legislative Acts are the responsibility of the Minister for Justice.

The Deputy will also be aware that on 18 January 2023, the Minister for Housing, Local Government and Heritage announced plans to draft legislation to further support the remediation of apartments and duplexes with fire safety, structural safety or water ingress defects.