Section 112AD — Tribunals, Courts and Enforcement Act 2007: Calculating the debtor's qualifying debts

Calculating the debtor's qualifying debts 112AD 1 The total amount of a debtor's qualifying debts is to be calculated in accordance with subsections (2) and (3).

2 All of the debtor's qualifying debts which have arisen before the calculation must be taken into account (whether or not the debts are already due at the time of the calculation).

3 Regulations must make further provision about how the total amount of a debtor's qualifying debts is to be calculated.

4 Regulations may make provision about how the amount of any particular qualifying debt is to be calculated.

5 That includes the calculation of the amount of a debt for these purposes—

a calculating the total amount of the debtor's qualifying debts;

b scheduling the debt to an administration order.