Personal Insolvency (Amendment) Act 2015

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Amendment of section 78 of Principal Act

10. Section 78 of the Principal Act is amended—

(a) in subsection (2), by the substitution of the following for paragraph (a) (iv):

“(iv) proposal for a Debt Settlement Arrangement, as the case may be—

(I) has been approved by the requisite proportion of creditors referred to in section 73(6),

(II) is one to which section 73(7) applies, or

(III) has been approved or, as the case may be, deemed to have been approved in accordance with section 74A(7) (inserted by section 7 of the Personal Insolvency (Amendment) Act 2015),”,

and

(b) by the substitution of the following for subsection (5) (as amended by section 73 of the Courts and Civil Law (Miscellaneous Provisions) Act 2013 ):

“(5) For the purposes of subsection (2), the appropriate court may accept—

(a) the certificate of the personal insolvency practitioner referred to in section 75(1)(a)(i) (as amended by section 8 (a) of the Personal Insolvency (Amendment) Act 2015) as evidence that the proposal for a Debt Settlement Arrangement has been approved by the requisite proportion of creditors referred to in section 73(6),

(b) the certificate of the personal insolvency practitioner referred to in section 75(1)(a)(ii) (as amended by section 8 (a) of the Personal Insolvency (Amendment) Act 2015) as evidence that the proposal for a Debt Settlement Arrangement is one to which section 73(7) applies,

(c) the certificate of the personal insolvency practitioner referred to in section 75(1A) (inserted by section 8 (b) of the Personal Insolvency (Amendment) Act 2015) as evidence that the Debt Settlement Arrangement has been approved or, as the case may be, deemed to have been approved in accordance with section 74A(7) (inserted by section 7 of the Personal Insolvency (Amendment) Act 2015), and

(d) the statement of the personal insolvency practitioner referred to in section 75(1)(c) (as amended by section 71 of the Courts and Civil Law (Miscellaneous Provisions) Act 2013 ) or, as the case may be, section 75(1A)(c) (inserted by section 8 (b) of the Personal Insolvency (Amendment) Act 2015) as evidence of any matter referred to in subsection (2) which is the subject of that statement.”.