Personal Insolvency Act 2012

Prescribed Financial Statement.

136.— (1) The Insolvency Service, with the consent of the Minister may by regulations prescribe a form (in this Act referred to as a “Prescribed Financial Statement”) to be used by persons—

(a) in an application for a Debt Relief Notice,

(b) in an application for a protective certificate under Chapter 3 or 4,

(c) making a proposal for a Debt Settlement Arrangement, or

(d) making a proposal for a Personal Insolvency Arrangement,

which form shall provide for the provision of detailed information relating to the income, assets, liabilities and necessary household expenditure incurred by such persons.

(2) In making regulations under this section the Insolvency Service may—

(a) prescribe different forms for different circumstances,

(b) prescribe descriptions of income, assets, liabilities and expenditure in respect of which information is to be provided in the completion of a prescribed form including the income, assets and liabilities of persons ordinarily residing with the debtor insofar as that information is reasonably available to the debtor,

(c) provide that personal data and information relating to domestic support orders and sensitive information relating to the health of the debtor and persons residing with the debtor need not be individually particularised in such form where those particulars have been furnished to the approved intermediary or personal insolvency practitioner concerned and to the Insolvency Service.

(3) A Prescribed Financial Statement made under this Act shall be verified by means of a statutory declaration made under the Statutory Declarations Act 1938 .