PART 8REVOCATION OF DEBT PAYMENT PROGRAMMES

Grounds for revocation42

1

A debt payment programme may be revoked by the DAS Administrator (whether or not on an application under regulation 41) where—

a

a debtor fails without reasonable cause to satisfy a condition under regulation 27 or 28;

b

a debtor makes a statement in an application under these Regulations which the debtor knows to be untrue; or

c

a payment to be paid under the programme becomes due, and there remains unpaid a sum, due in respect of previous payments so due, of not less than the aggregate of two such payments; or

d

in the case of a joint debt payment programme, conditions in regulation 22(1)(b) or (2) no longer apply.

2

If the DAS Administrator proposes to revoke a debt payment programme it must give written notice of that proposal to—

a

the debtor;

b

each creditor who is taking part in the programme;

c

any creditor who has made an application for variation of the programme; and

d

any continuing money adviser or money adviser who has made an application for revocation on behalf of the debtor,

and is not to implement the proposal until the expiry of a period of at least 4 weeks after the date on which notice is given.

3

A continuing money adviser given notice under paragraph (2) must notify all creditors taking part in the debt payment programme of the proposal to revoke the programme.