(This note is not part of the Regulations)
These Regulations establish a debt respite scheme.
These Regulations make provision for two types of moratorium available to eligible debtors domiciled or ordinarily resident in England or Wales, namely a breathing space moratorium and a mental health crisis moratorium.
Part 1 makes provision relevant to any moratorium under these Regulations, including the effect of a moratorium and the rights of creditors to request a review of a moratorium and to apply to the county court to cancel the moratorium.
Parts 2 and 3 make provision concerning a breathing space moratorium and a mental health crisis moratorium respectively.
Part 4 provides for the administration of the debt respite scheme by the Secretary of State.
A full impact assessment of the effect that this instrument will have on the costs of business, the voluntary sector and the public sector is available from HM Treasury, 1 Horse Guards Road, London SW1A 2HQ and is published alongside this instrument at www.legislation.gov.uk.