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Dáil
‹ Order of Business

Distressed loan book regulation

Summary

Deputy Durkan asks for urgent legislation regulating unregulated purchasers of distressed loan books and protection for pressured householders, while also seeking the timetable for the Criminal Law (Sexual Offences) Bill. The Taoiseach says both Bills are due this session and notes that purchasers have voluntarily agreed to follow the Central Bank’s code.

Bernard Durkan Deputy Bernard J. Durkan Fine Gael

The purchase of distressed loan books by unregulated third parties has taken place.

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Deputy Keaveney should read his party's pre-budget submission.

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The Government took money away from mental health services.

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Bernard Durkan Deputy Bernard J. Durkan Fine Gael

This has been a cause of some concern as a result of the activity of certain of the purchasers and its impact on the market. The extent to which these entities are pressurising-----

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It is shameful. The Government took the money from the most vulnerable and lined the pockets of the rich.

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According to the its document, Fianna Fáil would spend €50 million less on health.

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The Minister should go and cover up his predecessor's dirty tricks.

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Seán Barrett An Ceann Comhairle Fine Gael

Deputy Keaveney should recognise the fact that Deputy Durkan is speaking.

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What about the Minister?

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Seán Barrett An Ceann Comhairle Fine Gael

Deputy Keaveney should show Deputy Durkan the same respect he was afforded while making his contribution.

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Is the Ceann Comhairle going to caution the Minister?

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Bernard Durkan Deputy Bernard J. Durkan Fine Gael

In light of the extent to which individual householders are being pressurised by the purchasers of these loan books, will the Taoiseach indicate if it is intended to bring the sale of loan books to unregulated third parties Bill before the House as a matter of urgency in order to ensure that the activities of the entities to which I refer will not infect the entire market?

When is the criminal law (sexual offences) Bill likely to be introduced? Have the heads of this legislation been cleared by the Cabinet?

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Enda Kenny The Taoiseach Fine Gael

Both Bills are due this session.

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Bernard Durkan Deputy Bernard J. Durkan Fine Gael

Would it be possible for some steps to be taken in the meantime to alert the people who have purchased such loans of the fact that the legislation is imminent?

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Enda Kenny The Taoiseach Fine Gael

A public consultation process was held. Groups which bought the loan books in question voluntarily agreed to adhere to the code of conduct set out by the Central Bank.

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