"A private members’ bill forcing developers to pay sub-contractors by an agreed date will represent a milestone if the Green Party allows it to go before the Dáil in the new year...

The Construction Contracts Bill, drawn up by independent Senator Feargal Quinn, would require developers to notify building sub-contractors of their intention to withhold sums due to the contractors. A forum for adjudication would be established for payment disputes that were not sorted out within 28 days.

If the bill is passed before the Dáil is dissolved in the spring, it will be the first time in 40 years that a private members’ bill arising in the Seanad has been passed by the Houses of the Oireachtas.

Quinn’s legislation goes to final stage in the Seanad next week, but he is in talks with the Green Party to appeal to its members to make time available for it to be debated in the Dáil.

‘‘Nobody says this is not a good bill," Quinn said. ‘‘The Green Party has a lot of other things it wants to get through, such as climate change and political donations bills.

The Construction Contracts Bill won’t take much time in the Dáil if we get it through the Seanad, and I think there will be all party agreement on it."

He said it could have averted the fallout for sub-contractors arising from the liquidation of Pierse Contracting, among other high-profile cases. Pierse collapsed with a deficit of €212 million, and owed €51.5million to trade creditors, including more than 3,000 sub-contractors. Quinn said he was aware of one family company that was down €2.7 million from the Pierse liquidation.

A Green Party spokesman would not comment, except to state that there was ‘‘goodwill towards Senator Quinn’s bill’’, adding that the Greens had a lot of legislation to deal with in the new year.

Under the bill, developers must give prior notice of their intention to withhold sums from payments due to their contractors. Otherwise, payments must be made in full, or the payee can suspend works and services under the construction contract until payment is made in full.

A new adjudication forum will be established for dispute resolution to obviate the need to go through the courts.

The British government introduced a similar arbitration mechanism in 1998, which Quinn said he had ‘‘taken the best from, but also incorporated aspects of the systems in New Zealand and Australia’’.

The Department of Finance adopted Quinn’s original bill, which was redrafted to make it ‘‘more robust’’, with modifications stipulated by the Attorney General to protect taxpayer interests."

By Niamh Connolly, Political Correspondent

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