PART 1

Application or petition for sequestration

Applications and petitions

Debtor applications: general
8
1
Any debtor application must be made to AiB.
2
A debtor application must—
a
include a declaration by the money adviser who provided the advice referred to in section 4(1) that such advice has been given, and
b
specify the name and address of the money adviser.
3
The debtor must send to AiB along with the application—
a
a statement of assets and liabilities, and
b
a statement of undertakings.
4
If the debtor—
a
fails, in a statement of assets and liabilities sent to AiB in accordance with subsection (3)(a), to disclose a material fact, or
b
makes in such a statement a material misstatement,
then the debtor commits an offence.
5
A person who commits an offence under subsection (4) is liable on summary conviction to a fine not exceeding level 5 on the standard scale or to imprisonment for a term not exceeding 3 months or both to such fine and to such imprisonment.
6
In any proceedings for an offence under subsection (4), it is a defence to show that the accused had a reasonable excuse for the failure in question or, as the case may be, for making the statement in question.
S. 8 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2