SCHEDULE 1

DEBTOR TO WHOM SECTION 2(2) APPLIES: APPLICATION OF ACT

Procedure where Accountant in Bankruptcy considers paragraph 1 should cease to have effect
3
1
If AiB considers under paragraph 2(2) that paragraph 1 should cease to have effect in relation to a debtor, AiB must notify the debtor of that fact and of the matters mentioned in sub-paragraph (2).
2
The matters are—
a
the circumstances mentioned in paragraph 2 which AiB considers apply in relation to the debtor, and
b
that the debtor may make representations to AiB within 14 days beginning with the giving of notification under sub-paragraph (1).
3
On the expiry of the 14 days mentioned in sub-paragraph (2)(b) and after having taken into account any representations made by the debtor under that sub-paragraph, AIB must decide whether paragraph 1 should cease to have effect in relation to the debtor.
4
If AiB decides that paragraph 1 should cease to have effect in relation to the debtor, AiB must, as soon as practicable after reaching that decision, give notice in writing to the debtor—
a
of the decision, and
b
of the effect of the decision.
Sch. 1 para. 3 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2