PART 1Application or petition for sequestration

Applications and petitions

I14Money advice

1

An application for the sequestration of a living debtor's estate may not be made unless the debtor has obtained from a money adviser advice on—

a

the debtor's financial circumstances,

b

the effect of the proposed sequestration,

c

the preparation of the application, and

d

such other matters as may be prescribed.

2

In this Act, “money adviser” means a person who—

a

is not an associate of the debtor, and

b

is of a prescribed description or falls within a prescribed class.