Money advice on debtor applications: procedure on evidence and information
This section has no associated Policy Notes
6.—(1) In advising under section 5C of the Act(1) on a debtor application, a money adviser must obtain evidence of the debtor’s income and expenditure.
(2) A money adviser must retain records in relation to the advice given to the debtor (including the evidence obtained under paragraph (1)) in making a debtor application, for 2 years from the date on which the advice was given.
(3) A money adviser must provide as required by the Accountant in Bankruptcy, information about a debtor’s application (including evidence obtained under paragraph (1) or the debtor’s consent to the application).
(1)
Inserted by section 1(2) of the 2014 Act.