Tribunals, Courts and Enforcement Act 2007 (c. 15)

Part 5 E+W Debt management and relief

Prospective

Chapter 4 E+W Debt management schemes

Effects of end of approval E+W

128 Effects of end of approval E+W

(1) Regulations may make provision about the effects if the approval of a debt management scheme comes to an end.

(2) Regulations under this section may, in particular, make provision about the treatment of debt repayment plans arranged for non-business debtors before the scheme came to an end.

(3) That includes provision to treat a plan—

(a) as though the approval had not come to an end, or

(b) as though the plan had been made in accordance with a different approved scheme.

(4) Regulations under this section may, in particular, make provision about cases where, at the time the scheme comes to an end, the scheme operator is in breach of a relevant obligation.

(5) That includes provision to ensure that the operator is not released from the relevant obligation by virtue of the termination.

(6) In subsections (4) and (5) “relevant obligation” means any obligation (including a requirement or condition) however arising, that relates to—

(a) the scheme in question (including its operation),

(b) the approval of that scheme, or

(c) the termination of that approval.