Section 112Y — Tribunals, Courts and Enforcement Act 2007: Failure to take account of all qualifying debts

Failure to take account of all qualifying debts 112Y 1 This section applies if—

a an administration order has been made, but b it becomes apparent that the total amount of the debtor's qualifying debts was not properly calculated for the purposes of section 112B(6), because of an undeclared debt.

2 A debt is undeclared if it ought to have been, but was not, taken into account in the calculation for the purposes of section 112B(6).

3 If these conditions are met—

a the undeclared debt is due (whether it became due before or after the making of the order);

b the total debt is less than, or the same as, the prescribed maximum; the ... county court must schedule the undeclared debt to the order.

4 If these conditions are met—

a the undeclared debt is not due;

b the total debt is less than, or the same as, the prescribed maximum; the ... county court must schedule the undeclared debt to the order when the debt becomes due.

5 If the total debt is more than the prescribed maximum, the ... county court must revoke the administration order (whether or not the undeclared debt is due).

6 In this section “ total debt ” means the total amount of the debtor's qualifying debts (including the undeclared debt).

7 Subsections (3) and (4) are subject to section 112AG(5).