43BFinancial education

1

The trustee must notify a living debtor that the debtor is required to undertake a prescribed course of financial education (a “financial education course”) specified by the trustee if, in the opinion of the trustee—

a

any of the circumstances mentioned in subsection (2) apply, and

b

undertaking the course would be appropriate for the debtor.

2

The circumstances are—

a

in the period of 5 years ending on the date on which the sequestration of the debtor's estate was awarded—

i

the debtor's estate was sequestrated,

ii

the debtor granted a protected trust deed,

iii

an analogous remedy (within the meaning of section 10(7)) was in force in respect of the debtor, or

iv

the debtor participated in a debt management programme under which the debtor made regular payments (including in particular a programme approved in accordance with section 2 of the Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17)),

b

the debtor is subject to, or under investigation with a view to an application being made for, a bankruptcy restrictions order,

c

the trustee considers that the pattern of the debtor's behaviour, whether before or after the award of sequestration, is such that the debtor would benefit from a financial education course,

d

the debtor agrees to undertake a financial education course.

3

The trustee must decide whether to issue a notification under subsection (1)—

a

before the end of the period of 6 months beginning with the date of award of sequestration, and

b

in a case where section 54F applies, as soon as reasonably practicable after the trustee ascertains the whereabouts of the debtor or the debtor makes contact with the trustee.

4

A debtor must not be required to undertake or, as the case may be, complete the financial education course specified by the trustee if, in the opinion of the trustee—

a

the debtor is unable to participate in the course as a result of the debtor's health (including by reason of disability or physical or mental illness), or

b

the debtor has completed a financial education course in the period of 5 years ending on the date on which the sequestration of the debtor's estate was awarded.

5

Regulations under subsection (1) may in particular—

a

prescribe the content, format and method of delivery of a course,

b

prescribe different courses for different circumstances,

c

make provision for particular courses to be specified by a trustee where particular circumstances in subsection (2) apply.