Part 5Debt management and relief
Chapter 4Debt management schemes
Various
130Regulations
1
It is for the Lord Chancellor to make regulations.
2
The power to make regulations is exercisable by statutory instrument.
3
A statutory instrument containing regulations is subject to annulment in pursuance of a resolution of either House of Parliament.
4
But subsection (3) does not apply in the case of a statutory instrument that contains either or both of the following—
a
the first regulations under a particular section of this Chapter;
b
any regulations under section 118(6);
c
any regulations under section 120 that amend section 98 of the Courts Act 2003 (c. 39);
d
any regulations that amend section 122 or 123.
5
In such a case the statutory instrument may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, each House of Parliament.
6
Regulations may make different provision in relation to different cases.
7
Regulations may make any or all of the following provision if the Lord Chancellor thinks it is necessary or expedient—
a
supplementary, incidental or consequential provision;
b
transitory, transitional or saving provision.
8
Provision under subsection (7) may, in particular, amend section 122 or 123 (including by making provision for further grounds of appeal).
9
In this section (except in subsection (4)(a) to (c)) “regulations” means regulations under any provision of this Chapter.
131Main definitions
1
In this Chapter—
“affected creditor” has the meaning given by section 122;
“approved scheme” means a debt management scheme that is approved under section 111;
“debt management scheme” has the meaning given by section 109;
“debt repayment plan” has the meaning given by section 110;
“non-business debtor” means any individual who—
- a
is a debtor under one or more qualifying debts, but
- b
is not a debtor under any business debts;
- a
“period of protection” has the meaning given by section 133;
“qualifying creditor” means a creditor under a qualifying debt;
“scheme operator” means the body that operates a debt management scheme;
“specified debt” means a debt specified in a debt repayment plan;
“supervising authority” has the meaning given by section 129.
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132Expressions relating to debts
1
All debts are qualifying debts, except the following—
a
any debt secured against an asset;
b
in relation to a debt repayment plan which has been requested or arranged, any debt which could not, by virtue of the terms of the debt management scheme, be specified in the plan.
2
A business debt is any debt (whether or not a qualifying debt) which is incurred by a person in the course of a business.
133Periods of protection
1
A “period of protection”, in relation to a non-business debtor, is a period which begins and ends as specified in this section.
2
The period begins if, and when, the debtor makes a request to the operator of an approved scheme for a debt repayment plan to be arranged in accordance with the scheme.
3
The period ends as follows—
a
if a debt repayment plan is not arranged in consequence of the request: when the decision is made not to arrange the plan;
b
if a debt repayment plan is arranged in consequence of the request: when that plan ceases to have effect.
4
But if other debt management arrangements are in force in relation to debtor immediately before he makes the request, the period does not begin unless, and until, a debt repayment plan—
a
is arranged in consequence of the request, and
b
comes into effect in accordance with section 121(2).
5
In this section the reference to other debt management arrangements which are in force has the same meaning as such references in section 121.