PART 1Financial Guidance etc
Objectives and functions of the single financial guidance body
7Debt respite scheme: regulations
1
As soon as reasonably practicable after receiving advice from the single financial guidance body under section 6, the Secretary of State must consider whether to make regulations under this section.
2
After receiving advice from the single financial guidance body under section 6, the Secretary of State may make regulations establishing a debt respite scheme.
3
The regulations must take the advice into account.
4
The regulations may provide for the scheme to apply—
a
in England only,
b
in England and Wales,
c
in England and Northern Ireland, or
d
in England, Wales and Northern Ireland.
5
Regulations under this section may—
a
make different provision for different purposes,
b
make different provision for different areas,
c
make incidental, supplemental, consequential, transitional or saving provision, and
d
apply to obligations entered into, or debts due to be repaid, before the regulations come into force.
6
Provision under subsection (5)(c) may amend any provision made by or under—
a
an Act of Parliament,
b
in the case where the regulations provide for the scheme to apply in Wales, a Measure or Act of the National Assembly for Wales, and
c
in the case where the regulations provide for the scheme to apply in Northern Ireland, Northern Ireland legislation.
7
Regulations under this section are to be made by statutory instrument.
8
An instrument containing regulations under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of —
a
each House of Parliament,
b
in the case where the regulations provide for the scheme to apply in Wales, the National Assembly for Wales, and
c
in the case where the regulations provide for the scheme to apply in Northern Ireland, the Northern Ireland Assembly.