Part 5Debt management and relief

Chapter 4Debt management schemes

Termination of approval

127Alternatives to termination

1

Regulations may make provision to allow the supervising authority to deal with a termination case other than by terminating the approval.

2

A termination case is a case in which the supervising authority would be entitled to terminate the approval of a debt management scheme.

3

Regulations under this section may, in particular, make provision to allow the supervising authority to transfer the operation of the scheme—

a

to itself, or

b

to any other body.