S. 7 in force at 1.10.2018 by S.I. 2018/1029, reg. 2(e)

S. 7(4A) inserted (E.W) (29.6.2021) by Financial Services Act 2021 (c. 22), ss. 35(2), 49(2)(c)

S. 7(5)(ba) inserted (29.6.2021) by Financial Services Act 2021 (c. 22), ss. 35(3), 49(2)(c)

http://www.legislation.gov.uk/ukpga/2018/10/section/7Financial Guidance and Claims Act 2018An Act to make provision establishing a new financial guidance body (including provision about a debt respite scheme); to make provision about the funding of debt advice in Scotland, Wales and Northern Ireland; to provide a power to make regulations prohibiting unsolicited direct marketing in relation to pensions and other consumer financial products and services; and to make provision about the regulation of claims management services.texttext/xmlenStatute Law Database2022-12-19Expert Participation2022-10-14PART 1Financial Guidance etcObjectives and functions of the single financial guidance body
7Debt respite scheme: regulations1

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.

4A

The regulations may include the following as part of the scheme so far as it applies in England and Wales—

a

provision about the involvement of creditors in the process of devising a plan for the repayment of some or all of an individual's debts;

b

provision to protect an individual, during the period of a repayment plan, from being required to repay a debt to which the plan applies otherwise than in accordance with the plan;

c

provision for an amount payable in respect of a debt in accordance with a repayment plan—

i

to be payable instead towards the costs of operating the repayment plan, other repayment plans or the debt respite scheme, and

ii

to be treated, so far as paid towards those costs, as permanently reducing a debt to which the plan applies.

5

Regulations under this section may—

a

make different provision for different purposes,

b

make different provision for different areas,

ba

make provision binding the Crown,

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.

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<p>
S. 7 in force at 1.10.2018 by
<ref href="http://www.legislation.gov.uk/id/uksi/2018/1029">S.I. 2018/1029</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2018/1029/regulation/2/e">reg. 2(e)</ref>
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<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/2018/10/section/7/4A">S. 7(4A)</ref>
inserted (E.W) (29.6.2021) by
<ref href="http://www.legislation.gov.uk/id/ukpga/2021/22">Financial Services Act 2021 (c. 22)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/2021/22/section/35/2">ss. 35(2)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/2021/22/section/49/2/c">49(2)(c)</ref>
</p>
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<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/2018/10/section/7/5/ba">S. 7(5)(ba)</ref>
inserted (29.6.2021) by
<ref href="http://www.legislation.gov.uk/id/ukpga/2021/22">Financial Services Act 2021 (c. 22)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/2021/22/section/35/3">ss. 35(3)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/2021/22/section/49/2/c">49(2)(c)</ref>
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<strong>PART 1</strong>
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Financial Guidance
<abbr title="Et cetera" xml:lang="la">etc</abbr>
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<hcontainer name="crossheading" eId="part-1-crossheading-objectives-and-functions-of-the-single-financial-guidance-body" period="#period2">
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<em>Objectives and functions of the single financial guidance body</em>
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<noteRef href="#key-b0a1f4217dbe83db21099feb1b3ef1fc" marker="I1" class="commentary I"/>
7
</num>
<heading>Debt respite scheme: regulations</heading>
<subsection eId="section-7-1">
<num>1</num>
<content>
<p>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.</p>
</content>
</subsection>
<subsection eId="section-7-2">
<num>2</num>
<content>
<p>After receiving advice from the single financial guidance body under section 6, the Secretary of State may make regulations establishing a debt respite scheme.</p>
</content>
</subsection>
<subsection eId="section-7-3">
<num>3</num>
<content>
<p>The regulations must take the advice into account.</p>
</content>
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<subsection eId="section-7-4">
<num>4</num>
<intro>
<p>The regulations may provide for the scheme to apply—</p>
</intro>
<paragraph eId="section-7-4-a">
<num>a</num>
<content>
<p>in England only,</p>
</content>
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<paragraph eId="section-7-4-b">
<num>b</num>
<content>
<p>in England and Wales,</p>
</content>
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<paragraph eId="section-7-4-c">
<num>c</num>
<content>
<p>in England and Northern Ireland, or</p>
</content>
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<paragraph eId="section-7-4-d">
<num>d</num>
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<p>in England, Wales and Northern Ireland.</p>
</content>
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<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730 first">
<noteRef href="#key-cae2742f95c1583035cf3bdf7e40b27f" marker="F1" class="commentary attribute F"/>
4A
</ins>
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<p>
<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">The regulations may include the following as part of the scheme so far as it applies in England and Wales—</ins>
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<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">a</ins>
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<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">provision about the involvement of creditors in the process of devising a plan for the repayment of some or all of an individual's debts;</ins>
</p>
</content>
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<num>
<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">b</ins>
</num>
<content>
<p>
<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">provision to protect an individual, during the period of a repayment plan, from being required to repay a debt to which the plan applies otherwise than in accordance with the plan;</ins>
</p>
</content>
</paragraph>
<paragraph eId="section-7-4A-c">
<num>
<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">c</ins>
</num>
<intro>
<p>
<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">provision for an amount payable in respect of a debt in accordance with a repayment plan—</ins>
</p>
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<subparagraph eId="section-7-4A-c-i">
<num>
<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">i</ins>
</num>
<content>
<p>
<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">to be payable instead towards the costs of operating the repayment plan, other repayment plans or the debt respite scheme, and</ins>
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</content>
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<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730">ii</ins>
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<content>
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<ins class="key-cae2742f95c1583035cf3bdf7e40b27f-1637529704730 last">to be treated, so far as paid towards those costs, as permanently reducing a debt to which the plan applies.</ins>
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</content>
</subparagraph>
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<subsection eId="section-7-5">
<num>5</num>
<intro>
<p>Regulations under this section may—</p>
</intro>
<paragraph eId="section-7-5-a">
<num>a</num>
<content>
<p>make different provision for different purposes,</p>
</content>
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<paragraph eId="section-7-5-b">
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<paragraph eId="section-7-5-ba">
<num>
<ins class="key-2a51eef4f6bab9c6594588e47b50b5ee-1637529833001 first">
<noteRef href="#key-2a51eef4f6bab9c6594588e47b50b5ee" marker="F2" class="commentary attribute F"/>
ba
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<ins class="key-2a51eef4f6bab9c6594588e47b50b5ee-1637529833001 last">make provision binding the Crown,</ins>
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<p>make incidental, supplemental, consequential, transitional or saving provision, and</p>
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<paragraph eId="section-7-5-d">
<num>d</num>
<content>
<p>apply to obligations entered into, or debts due to be repaid, before the regulations come into force.</p>
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<num>6</num>
<intro>
<p>Provision under subsection (5)(c) may amend any provision made by or under—</p>
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<paragraph eId="section-7-6-a">
<num>a</num>
<content>
<p>an Act of Parliament,</p>
</content>
</paragraph>
<paragraph eId="section-7-6-b">
<num>b</num>
<content>
<p>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</p>
</content>
</paragraph>
<paragraph eId="section-7-6-c">
<num>c</num>
<content>
<p>in the case where the regulations provide for the scheme to apply in Northern Ireland, Northern Ireland legislation.</p>
</content>
</paragraph>
</subsection>
<subsection eId="section-7-7">
<num>7</num>
<content>
<p>Regulations under this section are to be made by statutory instrument.</p>
</content>
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<subsection eId="section-7-8">
<num>8</num>
<intro>
<p>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 —</p>
</intro>
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<num>a</num>
<content>
<p>each House of Parliament,</p>
</content>
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<num>b</num>
<content>
<p>in the case where the regulations provide for the scheme to apply in Wales, the National Assembly for Wales, and</p>
</content>
</paragraph>
<paragraph eId="section-7-8-c">
<num>c</num>
<content>
<p>in the case where the regulations provide for the scheme to apply in Northern Ireland, the Northern Ireland Assembly.</p>
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