C1C2C3C4 Part VIII Individual Voluntary Arrangements
Pt. VIII (ss. 252-263) restricted (6.4.1996 for the purpose only of authorising the making of regulations) by 1995 c. 26, ss. 91(3), 180(1) (with s. 121(5)); S.I. 1996/778, art. 2(5)(a). Sch. Pt. V
Pt. VIII (ss. 252–263) applied with modifications by S.I. 1986/2142, arts. 1(2), 11, 13(3), 15
Second Group of Parts (Pts. 8-11) modified (31.12.1996) by 1991 c. 57, Sch. 10 (as substituted by 1995 c. 25, s. 120(1), Sch. 22 para. 183 (with ss. 7(6), 115, 117); S.I. 1996/2909, art. 3)
Second Group of Parts (Pts. 8-11) modified (11.11.1999 for specified purposes and 6.4.2002 otherwise) by 1999 c. 30, s. 12(1); S.I. 2002/153, art. 2(b)
F4Procedure where no interim order made
Cross-heading preceding s. 256A, s. 256A and cross-heading before s. 257 inserted (1.1.2003) by 2000 c. 39, s. 3, Sch. 3 para. 7; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
C5F1256A Debtor’s proposal and nominee’s report.
1
This section applies where a debtor (being an individual)—
a
intends to make a proposal under this Part (but an interim order has not been made in relation to the proposal and no application for such an order is pending), and
b
if he is an undischarged bankrupt, has given notice of the proposal to the official receiver and, if there is one, the trustee of his estate,
F6...
2
For the purpose of enabling the nominee to prepare a report F2under subsection (3), the debtor shall submit to the nominee—
a
a document setting out the terms of the voluntary arrangement which the debtor is proposing, and
b
a statement of his affairs containing—
i
such particulars of his creditors and of his debts and other liabilities and of his assets as may be prescribed, and
ii
such other information as may be prescribed.
3
If the nominee is of the opinion that the debtor is an undischarged bankrupt, or is able to F5make a bankruptcy application , the nominee shall, within 14 days (or such longer period as the court may allow) after receiving the document and statement mentioned in subsection (2), submit a F3report to the debtor's creditors stating—
a
whether, in his opinion, the voluntary arrangement which the debtor is proposing has a reasonable prospect of being approved and implemented, F7and
F10c
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
The court may—
a
on an application made by the debtor in a case where the nominee has failed to submit the report required by this section or has died, or
b
on an application made by the debtor or the nominee in a case where it is impracticable or inappropriate for the nominee to continue to act as such,
direct that the nominee shall be replaced as such by another person qualified to act as an insolvency practitioner, or authorised to act as nominee, in relation to the voluntary arrangement.
5
The court may, on an application made by the nominee, extend the period within which the nominee is to submit his report.
Pt. VIII (ss. 252-263) applied (with modifications) (1.12.1994) by S.I. 1994/2421, art. 5