SCHEDULE 1

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

Decision that paragraph 1 ceases to have effect: modification of certain provisions of Act
5
1
Where paragraph 1 ceases to have effect in relation to a debtor, this Act applies subject to sub-paragraphs (2) to (4).
2
The debtor must send to the trustee a statement of assets and liabilities—
a
where no appeal is taken under paragraph 4, within 7 days beginning with the expiry of the period during which an appeal may be made under that paragraph, or
b
where an appeal is refused or, as the case may be, abandoned or withdrawn, within 7 days beginning with—
i
the day on which notice is given of the outcome of the appeal, or
ii
as the case may be, its abandonment or withdrawal.
3
Section 44 applies as if, in subsection (3)(a), for the words “sequestration is awarded” there were substituted “ paragraph 1 of schedule 1 ceases to have effect in relation to the debtor ”.
4
Section 116 applies as if for subsection (2) there were substituted—
2
The trustee in the sequestration must require the debtor to give an account in writing, in such form as may be prescribed, of the debtor's current state of affairs—
a
within 60 days beginning with the day on which paragraph 1 of schedule 1 ceases to have effect in relation to the debtor,
b
on the expiry of 6 months beginning with the day on which the account is given under paragraph (a), and
c
on the expiry of each subsequent 6 months.
.
Sch. 1 para. 5 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2