The Taoiseach might be aware that on 6 May a motion was discussed in the Seanad on the regulation of receivers. At that point the Minister stated on behalf of the Minister for Justice and Equality that in such circumstances the Minister believes it would be reasonable to put in place some rules and regulations governing their actions. Is legislation forthcoming in light of that commitment in the Seanad on 6 May this year, and in particular in light of the ruling that was made by the President of the High Court last week? He stated very clearly in his ruling that he has some sympathy for the view that the unaccountable receivership is a licence for theft. He said the law cannot avert its gaze. He went on to say that justice demands-----

The Deputy has made his point.

-----the regulation of receivers in the now familiar model of regulation by a statutory agency. In his ruling he likened what was happening to the Maple Ten case with which we are all familiar. Will regulation be forthcoming in this Dáil on the regulation of receivers because we are seeing many borrowers being short changed as a result of their actions, as they are working hand in glove with the banks?

It has not come before the Government yet. I will advise the Deputy on the preparation or work that has been done since 6 May.