Section 112E — Tribunals, Courts and Enforcement Act 2007: Repayment requirement

Repayment requirement 112E 1 An administration order must, during the currency of the order, impose a repayment requirement on the debtor.

2 A repayment requirement is a requirement for the debtor to repay the scheduled debts.

3 The repayment requirement may provide for the debtor to repay a particular scheduled debt in full or to some other extent.

4 The repayment requirement may provide for the debtor to repay different scheduled debts to different extents.

5 In the case of a new debt scheduled to the order in accordance with section 112D, the repayment requirement may provide that no due repayment in respect of the new debt is to be made until the debtor has made all due repayments in respect of declared debts.

6 The repayment requirement must provide that the due repayments are to be made by instalments.

7 It is for the ... county court to decide when the instalments are to be made.

8 But the ... county court is to determine the amount of the instalments in accordance with repayment regulations.

9 Repayment regulations are regulations which make provision for instalments to be determined by reference to the debtor's surplus income.

10 The repayment requirement may provide that the due repayments are to be made by other means (including by one or more lump sums) in addition to the instalments required in accordance with subsection (6).

11 The repayment requirement may include provision in addition to any that is required or permitted by this section.

12 In this section— “ declared debt ” has the same meaning as in section 112C (and for this purpose it does not matter whether a declared debt is scheduled to the administration order when it is made, or afterwards); “ due repayments ” means repayments which the repayment requirement requires the debtor to make; “ new debt ” has the same meaning as in section 112D.