C1Part 1The debt arrangement scheme

Annotations:
Modifications etc. (not altering text)

7AF1Debt payment programmes: power to make provision about debt relief

1

The Scottish Ministers may, by regulations, make such further provision as they think fit in connection with debt payment programmes for the purposes of—

a

enabling such programmes to provide for the payment of part only of money owed by debtors; and

b

on the completion of such programmes or otherwise, enabling any liability of debtors to pay any part of such money owed as is outstanding to be discharged.

2

The regulations may, in particular, make provision about—

a

the minimum proportion or percentage of debts which shall be paid under such debt payment programmes;

b

without prejudice to section 7(2)(h) to (j) above, the consent of creditors for the purposes of section 2(4) above (including the circumstances in which consent by a majority by number or in value shall be sufficient);

c

the effect of such programmes on debtors' liabilities for interest, fees, penalties and other charges in relation to debts being paid under such programmes;

d

the effect of such programmes on the rights of creditors to charge interest, fees, penalties or other charges in relation to debts being paid under such programmes;

e

circumstances in which, on completion of such programmes or otherwise, any liability of debtors to pay—

i

part of any debts as are outstanding; or

ii

any interest, fees, penalties or other charges in relation to such debts,

is to be discharged.

3

Subsections (3) and (4) of section 7 above apply for the purposes of regulations under this section as they apply for the purposes of regulations under subsection (1) of that section.