What is the status of promised legislation on the sale of loan books to unregulated third parties? Some 13,000 mortgages that were originally with the Irish Nationwide Building Society have been transferred to IBRC and subsequently passed over to KPMG. Now they are in the hands of two vulture funds, Oaktree and Lone Star. Has the Government received a commitment from these two companies that they will abide by the consumer mortgage protection code? Will the provisions of the Bill to which I referred be retroactive and thereby protect those mortgage holders who have already had their loans sold to third parties? When will the Bill be brought before the House?

Consultations on the heads of the Bill are ongoing between the Central Bank and the Department of Justice and Equality. The Bill is due for publication next year.