Insolvency Act

325. Requirements for applications made by debtors

Edition: 2022-12-31 · In force

(1)The Official Receiver may refuse an application for a summary instalment order if the application does not comply with subsection (2).

(2)An application does not comply with this subsection unless it—

(a)is in the form prescribed by the insolvency regulations for the purposes of this section;

(b)states—

(i)that the debtor proposes to pay the creditors in full; or

(ii)the proportion of the outstanding debt that the debtor proposes to pay;

(c)states the total amount of the weekly or other instalments that the debtor proposes to pay;

(d)states—

(i)the name and address of the debtor's proposed supervisor and annex the written consent of that person to be supervisor; or

(ii)if the debtor claims that a supervisor is not necessary, the debtor's reasons for making that claim; and

(e)includes the following information:

(i)the debtor's full name and address;

(ii)details of the debtor's property;

(iii)the names and addresses of each creditor;

(iv)the amount and nature of each of the creditors' debts;

(v)whether any of the debts are secured and the value of the charge or security right;

(vi)whether any of the debts are guaranteed by any person;

(vii)the amount of the debtor's earnings;

(viii)the name and address of the debtor's employer (if any);

(ix)any other matter that may be prescribed by the insolvency regulations for the purposes of this subsection.