PART I EXTENSION OF TIME TO PAY DEBTS

Time to pay directions on granting decree

3 Variation and recall of time to pay direction and arrestment.

(1)

The court which granted a decreeF1, or the First-tier Tribunal, where it has made an order, containing a time to pay direction may, on an application by the debtor or the creditor—

(a)

vary or recall the direction if it is satisfied that it is reasonable F2in all the circumstances to do so; or

(b)

if F3an interim attachment or an arrestment in respect of the debt concerned is in effect, recall or restrict the F4interim attachment or arrestment.

(2)

If F5an interim attachment or an arrestment in respect of the debt concerned is in effect, the court F6or the First-tier Tribunal may order that any variation, recall or restriction under subsection (1) above shall be subject to the fulfilment by the debtor of such conditions as the court F6or the First-tier Tribunal thinks fit.

(3)

The clerk of courtF7, sheriff clerk or, in relation to time to pay directions made by the First-tier Tribunal, a member of administration staff of the First-tier Tribunal shall as soon as is reasonably practicable intimate a variation under subsection (1) above to the debtor and to the creditor, and the variation shall come into effect on the date of such intimation.