Part 5

Debt management and relief
Chapter 4

Debt management schemes

Approval of schemes

Approval by supervising authority
111
1
The supervising authority may approve one or more debt management schemes.
2
Regulations may make provision about any or all of the following—
a
conditions that must be met before the supervising authority may approve a debt management scheme;
b
considerations that the supervising authority must, or must not, take into account in deciding whether to approve a debt management scheme.
3
Regulations under this section may, in particular, make provision about conditions or considerations that relate to any matter listed in Schedule 21.
4
The supervising authority may approve a debt management scheme whether a body is—
a
operating the scheme at the time of the approval, or
b
proposing to operate the scheme from a time in the future.