This Act was enacted to ensure continued application of repealed provisions of the Conveyancing Acts 1881 to 1911 to all mortgages created prior to 1 December 2009 since case law had raised doubts on the issue.

The Act also introduced additional protections for borrowers in cases where lending institutions had commenced legal proceedings for the repossession of principal private residences. 

These protections include a provision whereby a court may, where it considers it appropriate or on application by a borrower, adjourn the proceedings to enable the parties to consider whether a Personal Insolvency Arrangement (PIA) under the Personal Insolvency Act 2012 would be a more appropriate alternative to repossession. 

The Act is available on the legislation pages of the Oireachtas website.