Dáil Éireann Debate, Wednesday - 11 January 2012
630 Deputy Michael Healy-Rae asked the Minister for Justice and Equality his plans to change the bankruptcy laws here to bring them more in line with the system that is used in England; and if he will make a statement on the matter. [1024/12]
Amharc ar fhreagraI made provision in the Civil Law (Miscellaneous Provisions) Act 2011 for the application to the court for discharge of a bankruptcy after 5 years. The previous period for application to the court was 12 years. The application remained subject to the conditions for discharge specified in the Bankruptcy Act of 1988, which concerned the full realisation of the estate of the bankrupt, payment of fees and expenses and of preferential debts.
In addition, I introduced for the first time in Irish law, provision for automatic discharge of a bankruptcy after 12 years have elapsed since the adjudication of bankruptcy. The new provisions commenced on 10 October, 2011. The question of further reductions in the period for discharge of a bankruptcy, including automatic discharge, is being considered in the context of my Department's development of proposals for the Personal Insolvency Bill that is a commitment in the Government Legislation Programme and under the EU/IMF Programme of Financial Support for the State.
