Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17)

Part 1 S The debt arrangement scheme

Modifications etc. (not altering text)

C1 Pt. 1 modified (30.11.2004) by Debt Arrangement and Attachment (Scotland) Act 2002 (Transfer of Functions to the Accountant in Bankruptcy) Order 2004 (S.S.I. 2004/448), arts. 1, 3

[F1 7A Debt payment programmes: power to make provision about debt relief S

(1) The Scottish Ministers may, by regulations, make such further provision as they think fit in connection with debt payment programmes for the purposes of—

(a) enabling such programmes to provide for the payment of part only of money owed by debtors; and

(b) on the completion of such programmes or otherwise, enabling any liability of debtors to pay any part of such money owed as is outstanding to be discharged.

(2) The regulations may, in particular, make provision about—

(a) the minimum proportion or percentage of debts which shall be paid under such debt payment programmes;

(b) without prejudice to section 7(2)(h) to (j) above, the consent of creditors for the purposes of section 2(4) above (including the circumstances in which consent by a majority by number or in value shall be sufficient);

(c) the effect of such programmes on debtors' liabilities for interest, fees, penalties and other charges in relation to debts being paid under such programmes;

(d) the effect of such programmes on the rights of creditors to charge interest, fees, penalties or other charges in relation to debts being paid under such programmes;

(e) circumstances in which, on completion of such programmes or otherwise, any liability of debtors to pay—

(i) part of any debts as are outstanding; or

(ii) any interest, fees, penalties or other charges in relation to such debts,

is to be discharged.

(3) Subsections (3) and (4) of section 7 above apply for the purposes of regulations under this section as they apply for the purposes of regulations under subsection (1) of that section.]

Textual Amendments

F1 S. 7A inserted (8.3.2007) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 211(3), 227(3) (with s. 223); S.S.I. 2007/82, art. 3(a)