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Seanad
‹ Order of Business

Bank veto and personal insolvency

Summary

Senator Byrne seeks action over the Government’s proposed end to the bank veto, arguing that the former Minister gave misleading assurances during passage of the Personal Insolvency Bill and that the Seanad should respond.

I ask for the advice of the Deputy Leader on a matter. Yesterday the Government announced the so-called end of the bank veto. It remains to be seen what will be in the Government's legislation in that regard. We hope it does mean the bank veto will be ended and that the Government means what it says. When the Personal Insolvency Bill was going through this House there was a good debate with many Members on both sides speaking. The issue identified by me and many other colleagues at the time related to the bank veto. However, the then Minister, Deputy Alan Shatter, in his response to us, stated: "The banks do not have a veto." Clearly, this House was very much misled by the then Minister. Is there anything this House can do about the misleading statement given by the then Minister during the passage of the legislation? Is it something the Committee on Procedure and Privileges might take up?

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On a point of order, I thought there was a prohibition on mentioning people's names in the Houses, without proof of anything, when the person is not present to defend himself or herself.

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Paddy Burke An Cathaoirleach Fine Gael

That is not a point of order. He is a former Minister who brought the legislation to the House.

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Paddy Burke An Cathaoirleach Fine Gael

Senator Thomas Byrne should be allowed to speak without interruption.

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Members who supported the legislation at the time or accepted the then Minister's word that there was no bank veto must feel very badly let down. This House should now do something about this. We should pass a motion at some point on the misleading information that was given to us. We should warn Ministers that when they come to this House to sell legislation to us that they must be honest and truthful because clearly at the time this legislation was being passed the then Minister, Deputy Alan Shatter, was not truthful in this House, nor were the Taoiseach who stated in the Dáil that there was no bank veto and the Minister for Finance, Deputy Michael Noonan, who stated the same on a different occasion. The people have been misled in recent years.

I am pleased though that the Fianna Fáil analysis of the problem and our fairer and better way of dealing with mortgage arrears has finally reached the ears of the Government. We need a proper debate on what the Government is proposing and before that, we need to know exactly what is proposed. I do not know whether you have a role in the matter, a Chathaoirligh, but I wish to know what the House can do about that misleading statement made by the then Minister, Deputy Alan Shatter.

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Paddy Burke An Cathaoirleach Fine Gael

The Chair has no role in the matter.

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