The Land and Conveyancing Reform Bill 2013 (the 2013 Bill) was published just before Easter,and no doubt will progress to early debate in the Oireachtas. It is a very short Bill, to deal with two issues. The Bill states that its provisions will not apply to any existing court proceeding Section 1 provides that any party “deprived” of specified remedies and powers under the Land and Conveyancing Law Reform Act 2009 (the 2009 Act) – by virtue of the Start Mortgages and subsequent High Court Decisions (the HigCourt decisions) which in varying degrees held that the 2009 Act had repealed certain provisions for Mortgages/Charges created prior 1 December 2009) - can in fact still rely on same.
- Amount to an acceptance by the Government that in fact those High Court decisions were correct?
- In fact fully clsoe the gap brought about by the High Court decisions, and effectively give back to lenders the remedies and powers repealed by the 2009 Act?
Section 2 of the 2013 Bill allows the Court to adjourn applications to repossess Principal Private Residences, so as to facilitate discussions and procedures for Personal Insolvency Arwithout (other than through any consequent time delays) stopping or limiting a lender's powers against borrowers as set out in the 2009 Act.