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The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020
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Draft Legislation:
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 No. 1311
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations establish a debt respite scheme.
These Regulations make provision for two types of moratorium available to eligible debtors domiciled or ordinarily resident in England or Wales, namely a breathing space moratorium and a mental health crisis moratorium.
Part 1 makes provision relevant to any moratorium under these Regulations, including the effect of a moratorium and the rights of creditors to request a review of a moratorium and to apply to the county court to cancel the moratorium.
Parts 2 and 3 make provision concerning a breathing space moratorium and a mental health crisis moratorium respectively.
Part 4 provides for the administration of the debt respite scheme by the Secretary of State.
A full impact assessment of the effect that this instrument will have on the costs of business, the voluntary sector and the public sector is available from HM Treasury, 1 Horse Guards Road, London SW1A 2HQ and is published alongside this instrument at www.legislation.gov.uk.
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