(1)The supervising authority may approve one or more debt management schemes.
(2)Regulations may make provision about any or all of the following—
(a)conditions that must be met before the supervising authority may approve a debt management scheme;
(b)considerations that the supervising authority must, or must not, take into account in deciding whether to approve a debt management scheme.
(3)Regulations under this section may, in particular, make provision about conditions or considerations that relate to any matter listed in Schedule 21.
(4)The supervising authority may approve a debt management scheme whether a body is—
(a)operating the scheme at the time of the approval, or
(b)proposing to operate the scheme from a time in the future.
(1)Regulations may specify a procedure for making an application for approval of a debt management scheme.
(2)Regulations under this section may, in particular, specify a procedure that requires any or all of the following—
(a)an application to be made in a particular form;
(b)information to be supplied in support of an application;
(c)a fee to be paid in respect of an application.
(1)The approval of a debt management scheme has effect subject to any relevant terms.
(2)Relevant terms are—
(a)the terms (if any) specified in regulations that relate to the approval, and
(b)the terms (if any) that the supervising authority includes in the approval.
(3)Relevant terms may, in particular, deal with all or any of the following—
(a)the start of the approval;
(b)the expiry of the approval;
(c)the termination of the approval, including termination because of the breach of some other term.
(4)Relevant terms may, in particular, impose requirements on the scheme operator.
(5)Relevant terms may, in particular, relate to any matter listed in Schedule 21.
(6)Regulations may make provision about terms that the supervising authority must, or must not, include in an approval.