Statute
Section 117U — Tribunals, Courts and Enforcement Act 2007: Expressions relating to debts
Text of the provision Official document
Expressions relating to debts 117U 1 All debts are qualifying debts, except for the following—
a any debt secured against an asset;
b any debt of a description specified in regulations.
2 A business debt is any debt (whether or not a qualifying debt) which is incurred by a person in the course of a business.
3 Only debts that have already arisen are included in references to debts; and accordingly such references do not include any debt that will arise only on the happening of some future contingency.
Official source: legislation.gov.uk
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