PART 1Application or petition for sequestration

Applications and petitions

4Money advice

(1)

An application for the sequestration of a living debtor's estate may not be made unless the debtor has obtained from a money adviser advice on—

(a)

the debtor's financial circumstances,

(b)

the effect of the proposed sequestration,

(c)

the preparation of the application, and

(d)

such other matters as may be prescribed.

(2)

In this Act, “money adviser” means a person who—

(a)

is not an associate of the debtor, and

(b)

is of a prescribed description or falls within a prescribed class.