Tuesday 18 September 2018

'We won't let ECB block plans to protect mortgage holders' - Flanagan

 

Minister for Justice and Equality Charlie Flanagan. Photo: Gareth Chaney, Collins
Minister for Justice and Equality Charlie Flanagan. Photo: Gareth Chaney, Collins
Shane Phelan

Shane Phelan

Justice Minister Charlie Flanagan has rejected suggestions the European Central Bank (ECB) can veto proposed legislation giving increased protections to mortgage holders facing the repossession of their homes.

He was responding to concerns raised by legal advice charity Flac after proposed legislation was referred to the ECB by the Attorney General.

If enacted, the Courts and Land and Conveyancing Law Reform Bill 2018 would require courts to have regard to a number of factors, including the proportionality of the application for the possession order.

At the launch of Flac's annual report, Mr Flanagan said: "There is a legal issue with the Attorney General and the ECB I am very keen to surmount. I wouldn't by any means find it satisfactory that people would form the view the ECB will have a veto on our national legislation."

Irish Independent

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