Personal Insolvency (Amendment) Act 2015

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Amendment of section 115 of Principal Act

20. Section 115 of the Principal Act is amended—

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

“(iv) proposal for a Personal Insolvency Arrangement, as the case may be—

(I) has been approved by the requisite proportions of creditors referred to in section 110(1),

(II) is one to which section 108(8)(a) (as amended by section 15 (b) of the Personal Insolvency (Amendment) Act 2015) applies, or

(III) has been approved or, as the case may be, deemed to have been approved in accordance with section 111A(7) (inserted by section 17 of the Personal Insolvency (Amendment) Act 2015),”,

and

(b) by the substitution of the following for subsection (5) (as amended by section 87 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 112(1)(a)(i) (as amended by section 18 (a) of the Personal Insolvency (Amendment) Act 2015) as evidence that the proposal for a Personal Insolvency Arrangement has been approved by the requisite proportions of creditors referred to in section 110(1),

(b) the certificate of the personal insolvency practitioner referred to in section 112(1)(a)(ii) (as amended by section 18 (a) of the Personal Insolvency (Amendment) Act 2015) as evidence that the proposal for a Personal Insolvency Arrangement is one to which section 108(8)(a) (as amended by section 15 (b) of the Personal Insolvency (Amendment) Act 2015) applies,

(c) the certificate of the personal insolvency practitioner referred to in section 112(1A) (inserted by section 18 (b) of the Personal Insolvency (Amendment) Act 2015) as evidence that the Personal Insolvency Arrangement has been approved or, as the case may be, deemed to have been approved in accordance with section 111A(7)(inserted by section 17 of the Personal Insolvency (Amendment) Act 2015), and

(d) the statement of the personal insolvency practitioner referred to in section 112(1)(c) (inserted by section 85 of the Courts and Civil Law (Miscellaneous Provisions) Act 2013 ) or, as the case may be, section 112(1A)(c) (inserted by section 18 (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.”.