Section 128 — Tribunals, Courts and Enforcement Act 2007: Effects of end of approval

Effects of end of approval 128 1 Regulations may make provision about the effects if the approval of a debt management scheme comes to an end.

2 Regulations under this section may, in particular, make provision about the treatment of debt repayment plans arranged for non-business debtors before the scheme came to an end.

3 That includes provision to treat a plan—

a as though the approval had not come to an end, or b as though the plan had been made in accordance with a different approved scheme.

4 Regulations under this section may, in particular, make provision about cases where, at the time the scheme comes to an end, the scheme operator is in breach of a relevant obligation.

5 That includes provision to ensure that the operator is not released from the relevant obligation by virtue of the termination.

6 In subsections (4) and (5) “ relevant obligation ” means any obligation (including a requirement or condition) however arising, that relates to—

a the scheme in question (including its operation),

b the approval of that scheme, or c the termination of that approval.