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changes to bankruptcy law

  • 07-11-2013 4:13pm
    #1
    flix1
    Registered Users, Registered Users 2 Posts: 117 ✭✭


    Hi there,
    does anyone know when the changes are to come into effect around the change from 12 years to 3 years or where I may go about finding out this information.

    The Civil Law (Miscellaneous Provisions) Act 2011 (Section 30) (pdf) updated some of the rules on bankruptcy. Subsection 30(g) of the Act provides for the automatic discharge of a bankruptcy after 12 years. It also provides for a bankrupt to apply for a discharge after 5 years. This subsection came into force on 10 October 2011.
    You can also be discharged from bankruptcy if you meet certain conditions.
    As mentioned above, the Personal Insolvency Act will provide for discharge after 3 years.


Comments

  • #2
    NoQuarter
    Registered Users, Registered Users 2 Posts: 4,632 ✭✭✭NoQuarter


    Its changed already. The changes are in the Personal Insolvency Act, 2012. If the bankruptcy part wasnt enacted straight away, I'm sure there was a commencement order that brought it in at this stage.


  • #3
    Tom Young
    Legal Moderators, Society & Culture Moderators Posts: 4,338 Mod ✭✭✭✭Tom Young


    Actually, latest information I have is that Part 4 is not activated yet.


  • #4
    BornToKill
    Registered Users, Registered Users 2 Posts: 1,053 ✭✭✭BornToKill


    The only uncomenced part is the one relating to bankruptcy and this is due for commencement in the next few weeks. The reduction in the term of bankruptcy from 12 to 3 years will have retrospective effect so the 3 years will apply to anyone currently bankrupt.


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