Companies (Miscellaneous Provisions) Act 2013

Amendment of Personal Insolvency Act 2012

9. The Personal Insolvency Act 2012 is amended—

(a) in section 25, by substituting the following definition for the definition of “debt”:

“ ‘debt’, in relation to a debtor, means a debt for a liquidated sum that, on the application date, is payable either immediately or at some certain future time;”,

(b) in section 26, by deleting subsection (4),

(c) in section 27(6), by substituting the following for paragraph (a):

“(a) the information contained in the debtor’s Prescribed Financial Statement is true and accurate in all material respects, and”,

(d) in section 43(3)(b), by substituting the following for subparagraph (v):

“(v) the procedural requirements specified in this Chapter were not complied with;

(vi) the specified debtor, by his or her conduct within the period of 6 months ending on the application date, arranged his or her financial affairs primarily with a view to being or becoming eligible for the issue of a Debt Relief Notice.”,

and

(e) in section 44(3), by substituting the following for paragraph (f):

“(f) the procedural requirements specified in this Chapter were not complied with;

(g) the specified debtor, by his or her conduct within the period of 6 months ending on the application date, arranged his or her financial affairs primarily with a view to being or becoming eligible for the issue of a Debt Relief Notice.”.