PART 8Administration of estate by trustee
Financial education for debtor
117Financial education for debtor
1
The trustee must notify a living debtor that the debtor is required to undertake a prescribed course of financial education (a “financial education course”) specified by the trustee if, in the opinion of the trustee—
a
any of the circumstances mentioned in subsection (2) applies, and
b
undertaking the course would be appropriate for the debtor.
2
The circumstances are—
a
that in the 5 years ending on the date on which the sequestration was awarded—
i
the debtor’s estate was sequestrated,
ii
the debtor granted a protected trust deed,
iii
an analogous remedy (as defined in section 17(8)) was in force in respect of the debtor, or
iv
the debtor participated in a debt management programme under which the debtor made regular payments,
b
that the debtor is subject to, or under investigation with a view to an application being made for, a bankruptcy restrictions order,
c
that the trustee considers that the pattern of the debtor’s behaviour, whether before or after the award of sequestration, is such that the debtor would benefit from a financial education course, and
d
that the debtor agrees to undertake a financial education course.
3
The trustee must decide whether to issue a notification under subsection (1)—
a
within 6 months beginning with the date of the award of sequestration, and
b
in a case where section 143 applies, as soon as reasonably practicable after—
i
the trustee ascertains the whereabouts of the debtor, or
ii
the debtor makes contact with the trustee.
4
A debtor must not be required to undertake or, as the case may be, complete the financial course specified by the trustee if, in the opinion of the trustee, the debtor—
a
is unable to participate in the course as a result of the debtor’s health (including by reason of disability or of physical or mental illness), or
b
has completed a financial education course in the 5 years ending on the date on which the sequestration of the debtor’s estate was awarded.
5
Regulations under subsection (1) may in particular—
a
prescribe the content, format and method of delivery of a course,
b
prescribe different courses for different circumstances, or
c
make provision for particular courses to be specified by a trustee where particular circumstances in subsection (2) apply.
6
In subsection (2)(a)(iv), “debt management programme” includes in particular a programme approved in accordance with section 2 of the 2002 Act.