The Common Financial Tool (Scotland) Regulations 2018

Amendment of the Debt Arrangement Scheme (Scotland) Regulations 2011

5.—(1) The 2011 DAS Regulations are amended as follows.

(2) In regulation 2(1) (interpretation: general)—

(a) omit the definition of “Common Financial Statement”; and

(b) after the definition of “sheriff”, insert—

““the single financial guidance body” means the body established under section 1 (the single financial guidance body) of the Financial Guidance and Claims Act 2018 (irrespective of any changes to the name of that body);

“Standard Financial Statement” means the style and format for income and expenditure categories under that title (and, where relevant, related spreadsheets, budget sheets, trigger figures, guidance materials and notes) published by the Money Advice Service or by the single financial guidance body;”.

(3) In regulation 20(2B)(a) (application for approval) for “Common Financial Statement” substitute “Standard Financial Statement”.

(4) In schedule 1 (forms), in Form 1 (application for approval of a debt payment programme: individuals), in section 5 (financial statement of the debtor) for the material from the heading “5. Financial statement of the debtor(s) (the Common Financial Tool)” to the end of the material before section 5b substitute section 5a set out in schedule 4 of these Regulations.