The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014

Common Financial Tool: consequential amendments, all debts due

8.—(1) In regulation 12(1) (functions and duty of a money adviser)—

(a) after “money adviser” insert “, using the Common Financial Tool in the case of a debt payment programme for an individual,”; and

(b) at the end of sub-paragraph (d) insert “, in accordance with the Common Financial Tool in the case of a debt payment programme for an individual”.

(2) At the end of regulation 12(3)(a) insert “(in accordance with the Common Financial Tool in the case of a debt payment programme for an individual)”.

(3) After regulation 20(2) (application for approval)—

(a) insert—

“(2A) The debt payment programme applied for under paragraph (1) must provide for the payment of all debts due by the debtor at the time of making the application which a debt payment programme can provide for payment of, subject to regulation 22A(8)(b).”;

(b) after paragraph (2A) so inserted, insert—

“(2B) Where the debtor is an individual the application must also contain—

(a) the statement of income and expenditure in form 1 as at that date completed in the style and format of the Common Financial Statement; and

(b) a statement—

(i) that the proposed payments are in accordance with the Common Financial Tool as assessed by the money adviser; and

(ii) any evidence or explanation required in applying that tool.”; and

(c) after paragraph (2B) so inserted, insert—

“(2C) Where the debtor is a charity the application must also contain evidence that it has been intimated to OSCR.”.

(4) In regulation 24 (approval of agreed programmes)—

(a) in paragraph (1), for “The” substitute “Subject to paragraph (1A), the”; and

(b) after regulation 24(1) insert—

“(1A) In the case of a debt payment programme for an individual, the debt payment programme may only be approved in accordance with the Common Financial Tool.”.

(5) Before regulation 25(2)(a) (approval by the DAS Administrator) insert—

“(za) where the debtor is an individual, the Common Financial Tool;

(zb) where the debtor is an individual, any statement and evidence required under regulation 20(2B) to satisfy the DAS Administrator in applying the Common Financial Tool;”.

(6) Before Schedule 1, insert Schedule A1 set out in Schedule 1 to these Regulations.