Part IX Judicial Control

Extension of time

F1129ADebtor or hirer to give notice of intent etc. to creditor or owner

(1)

A debtor or hirer may make an application under section 129(1)(ba) in relation to a regulated agreement only if—

(a)

following his being given the notice under section 86B or 86C, he gave a notice within subsection (2) to the creditor or owner; and

(b)

a period of at least 14 days has elapsed after the day on which he gave that notice to the creditor or owner.

(2)

A notice is within this subsection if it—

(a)

indicates that the debtor or hirer intends to make the application;

(b)

indicates that he wants to make a proposal to the creditor or owner in relation to his making of payments under the agreement; and

(c)

gives details of that proposal.