Prospective
109Debt management schemesE+W
This
adran has no associated
Nodiadau Esboniadol
(1)A debt management scheme is a scheme that meets the conditions in this section.
(2)The scheme must be open to some or all non-business debtors.
(3)A scheme is open to a non-business debtor if it allows him to make a request to the scheme operator for a debt repayment plan to be arranged for him.
(4)The scheme must provide that, if such a request is made—
(a)a decision must be made about whether a debt repayment plan is to be arranged for the non-business debtor, and
(b)such a plan must be arranged (if that is the decision made).
(5)The scheme must be operated by a body of persons (whether a body corporate or not).