Central Bank and Financial Services Authority of Ireland (Protection of Debtors) Bill 2009

Public bill · Private Member · Introduced

The proposal would require people and companies collecting consumer or business debts in Ireland to obtain a licence from a new Debt Collection Regulator within the Financial Regulator. Applicants would face Garda checks, tax-clearance requirements and suitability tests; licences would last two years and could be suspended or withdrawn for misconduct, misleading information or risks to people’s safety. Debt collectors would generally need a debtor’s written consent before selling or transferring a debt and would have to notify the Regulator, while debtors could make complaints for investigation. Operating without a licence, falsely claiming official powers or legal consequences, and harassing people with payment demands would become criminal offences, with fines or imprisonment available.

Formal long title

Bill entitled an Act to amend the Central Bank Act 1942; to provide for the issuing of licenses to conduct debt collection activities; to provide that the undue harassment of debtors or the making of false representations to debtors shall be a criminal offence and to provide for connected matters

Last updated 12 April 2018