The Personal Insolvency (Amendment) Act 2021 completed its passage through the Houses of the Oireachtas and was signed into law by the President in May 2021. Some provisions are yet to come into effect. A
Technical Release has issued to assist members.
This Technical Release summarises key changes made by the 2021 Act to the Personal Insolvency Act, 2012 ("the Principal Act") which include:
i. Increase in assets from €400 to €1,500 for DRN cases.
ii. Replacement of a “confirmation of truth” in lieu of a “statutory declaration”.
iii. Enables electronic meetings.
iv. Enables staff on behalf of the PIP to take certain steps under the Acts.
v. Allow a third protective certificate extension in certain circumstances.
vi. Enlarges the time for bringing a 115A application from 14 days to 28 days.
vii. Removes the 1 January 2015 arrears gateway.
This Technical Release is intended to assist members in understanding the changes made to personal insolvency legislation.