PART 8INDIVIDUAL VOLUNTARY ARRANGEMENTS (IVA)
CHAPTER 6Action following approval of an IVA
Termination or full implementation of the IVA8.31
1
Not more than 28 days after the full implementation or termination of the IVA the supervisor must deliver a notice that the IVA has been fully implemented or terminated to the debtor and the creditors bound by the IVA.
2
The notice must state the date the IVA took effect.
3
The notice must be accompanied by a copy of a report by the supervisor which—
a
summarises all receipts and payments in relation to the IVA;
b
explains any departure from the terms of the IVA as approved by the creditors; and
c
if the IVA has terminated, sets out the reasons why.
4
The supervisor must within the 28 days mentioned above—
a
deliver a copy of the notice and report to the Secretary of State; and
b
if the creditors were invited to consider the proposal following a report under section 256(1)(aa), file a copy of the notice and report with the court.
5
The supervisor must not vacate office until the notice and report have been delivered to the Secretary of State.