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Amendment of section 112 of Act of 2012
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85. Section 112 of the Act of 2012 is amended by substituting the following for subsection (1):
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“(1) Where a Personal Insolvency Arrangement is approved at a creditors’ meeting in accordance with section 110, the personal insolvency practitioner shall as soon as practicable after the meeting has concluded notify the Insolvency Service and each creditor concerned, which notification shall be accompanied by—
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(a) a certificate with the result of the vote taken at the creditors’ meeting, identifying the proportions of the respective categories of votes cast by those voting at the creditors’ meeting and stating that the requisite percentage of creditors referred to in section 110(1) has approved the proposal for a Personal Insolvency Arrangement,
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(b) a copy of the approved Personal Insolvency Arrangement, and
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(c) a statement by the personal insolvency practitioner to the effect that he or she is of the opinion that—
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(i) the debtor satisfies the eligibility criteria for the proposal of a Personal Insolvency Arrangement specified in section 91,
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(ii) the approved Personal Insolvency Arrangement complies with the mandatory requirements referred to in section 99(2), and
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(iii) the approved Personal Insolvency Arrangement does not contain any terms that would release the debtor from an excluded debt or an excludable debt (other than a permitted debt) or otherwise affect such a debt.”.
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