DSA Formulation
S.I. No. 416/2015 –
Personal Insolvency Act 2012 (Written Statement Disclosing All of the Debtor’s Financial Affairs) Regulations 2015.
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Notice of the making of this Statutory Instrument was published in
“Iris Oifigiúil” of 2nd October, 2015.
The Insolvency Service of Ireland, in exercise of the powers conferred on it by section 3 of the Personal Insolvency Act 2012 (No. 44 of 2012), hereby makes the following regulations:
Citation and Commencement
1. These Regulations may be cited as the Personal Insolvency Act 2012 (Written Statement Disclosing All of the Debtor’s Financial Affairs) Regulations 2015.
2. These Regulations come in to operation on 5 October 2015.
Written Statement Disclosing all of the Debtor’s Financial Affairs in Respect of a Debt Relief Notice
3. The information prescribed for the purposes of section 27(1)(a)(i), 27(1)(a)(ii), and 27(1)(b), of the Act shall be the following in so far as the debtor can reasonably ascertain and the relevant information is applicable to the debtor:
(a) the full name, address and telephone contact details of the debtor’s creditors;
(b) a full description of the debtor’s debts and other liabilities;
(c) whether each of these debts and other liabilities are secured debts or unsecured debts;
(d) the amount of each debt or other liability (including principal, interest, costs and arrears) due to each of the debtor’s creditors at the date of the written statement;
(e) any contingent and prospective debts or other liabilities of the debtor (including any guarantee or similar commitment signed by the debtor in respect of any other person) and the times at which such debts or other liabilities will become due for payment.
4. The information prescribed for the purposes of section 27(1)(a)(iii) and 27(1)(b) of the Act shall be the following in as far as the debtor can reasonably ascertain and the relevant information is applicable to the debtor:
(a) a full description and current market value of existing and prospective assets of the debtor;
(b) the address or location of these assets;
(c) whether these assets are held jointly or collectively with any other person and if held collectively, the debtor’s ownership percentage or other interest;
(d) the financial institution where any of these assets are held.
5. The debtor shall provide full details, including any documentary evidence, of the efforts made by him or her to reach an alternative repayment arrangement with his or her creditors or any of them, for the purposes of section 27(1)(a)(iv) of the Act.
6. A debtor shall provide full details of his or her monthly income and monthly expenditure for the purposes of section 27(1)(b) of the Act and such details shall include:
(a) where income or expenditure is received or made other than on an individual basis by the debtor, details of any joint or collective arrangements which apply in respect of such income or expenditure;
(b) an averaging of the income and expenditure on a monthly basis where the income is not received or the expenditure made on a monthly basis.
Written Statement Disclosing all of the Debtor’s Financial Affairs in Respect of the appointment of a Personal Insolvency Practitioner
7. The information prescribed for the purposes of section 49(1)(a)(i), 49(1)(a)(ii) and 49(1)(b) of the Act shall be the following in so far as the debtor can reasonably ascertain and the relevant information is applicable to the debtor:
(a) the full name, address and email or telephone contact details of the debtor’s creditors;
(b) a full description of the debtor’s debts and other liabilities;
(c) whether each of these debts and other liabilities are secured debts or unsecured debts;
(d) the amount of each debt or other liability (including principal, interest, costs and arrears) due to each of the debtor’s creditors at the date of the written statement;
(e) any contingent and prospective debts or other liabilities of the debtor (including any guarantee or similar commitment signed by the debtor in respect of any other person) and the times at which such debts or other liabilities will become due for payment.
8. The information prescribed for the purposes of section 49(1)(a)(iii), 49(1)(a)(iv) and 49(1)(b) of the Act shall be the following in as far as the debtor can reasonably ascertain and the relevant information is applicable to the debtor:
(a) a full description of the current and prospective assets of the debtor;
(b) the address or location of these assets;
(c) where the assets comprise real property, whether the debtor’s title is freehold, leasehold or other;
(d) whether these assets are held jointly or collectively with any other person and if held collectively, the debtor’s ownership percentage or other interest;
(e) the financial institution and account details where any of these assets are held;
(f) in the case of assets which may give rise to income to the debtor or are shares or other securities, the name and address of the obligor or issuer;
(g) the purchase date, original cost and current market value of each asset.
9. A debtor shall provide full details of his or her monthly income and monthly expenditure for the purposes of section 49(1)(b) of the Act and such details shall include:
(a) a breakdown as between the different items of income and expenditure;
(b) an averaging of the income and expenditure on a monthly basis where the income is not received or the expenditure made on a monthly basis;
(c) where income or expenditure is received or made, other than on an individual basis by the debtor, details of any joint or collective arrangements which apply in respect of such income or expenditure.
Revocation
10. The Personal Insolvency Act 2012 (Written Statement Disclosing All of the Debtor’s Financial Affairs) Regulations 2013 are revoked.
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GIVEN under the seal of the Insolvency Service of Ireland,
1 October 2015.
LORCAN O’CONNOR,
Director of the Insolvency Service of Ireland.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These Regulations prescribe the information to be contained in the written statement of a debtor who wishes to become a specified debtor or, as applicable, a party, as a debtor, to a Debt Settlement Arrangement or a Personal Insolvency Arrangement, disclosing all of his or here financial affairs, including information in relation to his or her creditors, debts and assets.
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S.I. No. 335/2013 –
Personal Insolvency Act 2012 (Procedures for the Conduct of Creditors’ Meetings) Regulations 2013.
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Notice of the making of this Statutory Instrument was published in
“Iris Oifigiúil” of 3rd September, 2013.
I, ALAN SHATTER, Minister for Justice and Equality, in exercise of the powers conferred on me by Sections 74 and 111 of the Personal Insolvency Act 2012 (No. 44 of 2012) hereby make the following regulations:
Citation and Purpose.
1. (1) These Regulations may be cited as the Personal Insolvency Act 2012 (Procedures for the Conduct of Creditors’ Meetings) Regulations 2013.
(2) These Regulations are made for the purposes of Section 74 and Section 111 of the Personal Insolvency Act 2012 (No. 44 of 2012).
Scope.
2. These Regulations apply to meetings of creditors called pursuant to Sections 70 , 82 , 106 and 119 of the Personal Insolvency Act 2012 .
Definitions.
3. In these Regulations, unless the context otherwise requires:
“Act” means the Personal Insolvency Act 2012 (No. 44 of 2012);
“chairperson” means the personal insolvency practitioner for the time being standing appointed pursuant to the Act in respect of the debtor (party, or who wishes to become party), to the Debt Settlement Arrangement or Personal Insolvency Arrangement the subject of the relevant creditors’ meeting;
“creditors’ meeting” means a meeting of creditors called pursuant to Sections 70, 82, 106 or 119 of the Act and includes any sitting following the adjournment thereof;
“electronic address” means any address or number used for the purposes of sending or receiving documents or information by electronic means; and
“instrument appointing a proxy” has the meaning given to it in regulation 6(2).
Venue.
4. (1) In fixing the venue for a creditors’ meeting, the chairperson shall have regard to the convenience of creditors.
(2) A creditors’ meeting shall be scheduled for commencement between 9 a.m. and 4 p.m. on a working day.
Voting.
5. Each creditor participating at a creditors’ meeting at which a vote is held shall be entitled, in respect of each debt owed to such creditor, to vote once only in respect of the relevant resolution. Upon request by the chairperson, he or she shall vote without undue delay by stating to the chairperson whether he or she is in favour of or against the relevant resolution (or words to the like effect).
Resolutions.
6. No resolution shall be passed at any meeting to which these Regulations apply save for a single resolution approving a Debt Settlement Arrangement or Personal Insolvency Arrangement or a variation of either such arrangement.
Proxies.
7. (1) Votes at a creditors’ meeting may be given either personally or by proxy.
(2) Every notice summoning a creditors’ meeting shall be accompanied by an instrument under which a creditor may appoint a proxy to attend such meeting and vote on such creditor’s behalf thereat (an instrument appointing a proxy), which instrument appointing a proxy shall be in the form set out in the Schedule to these Regulations or in such form, substantially to like effect, which the chairperson in his or her sole discretion shall allow.
(3) An instrument appointing a proxy shall be completed in writing under the hand of the creditor or, if such creditor is a company or other body corporate, under the hand of the secretary or other person duly authorised by the company or other body corporate.
(4) Each completed instrument appointing a proxy shall be delivered to the office of the personal insolvency practitioner for the time being standing appointed pursuant to the Act in respect of the debtor in respect of the proposed or, as applicable, existing Debt Settlement Arrangement or Personal Insolvency Arrangement the subject of the relevant creditors’ meeting, no later than 4 p.m. on the last working day before the day on which the creditors’ meeting is scheduled to be held. The address of such office shall be specified in the notice summoning the creditors’ meeting. Where such notice also specifies an electronic address for the delivery of a completed instrument appointing a proxy, such instrument may be delivered by electronic means to such office by sending a copy of such instrument to such electronic address.
(5) The chairperson may, unless evidence to the contrary is shown and the chairperson has notice of this evidence, accept a completed instrument appointing a proxy which has been delivered in accordance with these Regulations as evidence that the appointee named therein has been validly appointed by the creditor concerned.
Creditor abstinence not to be counted as vote.
8. Where a creditor abstains from voting at a creditors’ meeting, such abstinence shall not be counted as a vote by such creditor.
Chairperson to be physically present in State.
9. Nothing in these Regulations shall permit the chairperson to be outside the State during the holding of a creditors’ meeting.
SCHEDULE
INSTRUMENT APPOINTING A PROXY
IN THE MATTER OF A CREDITORS’ MEETING PURSUANT TO THE PERSONAL INSOLVENCY ACT 2012 AND THE PERSONAL INSOLVENCY ACT 2012 (PROCEDURES FOR THE CONDUCT OF CREDITORS’ MEETINGS) REGULATIONS 2013
AND IN THE MATTER OF ______________ [name of debtor] OF ______________ [address of debtor], A DEBTOR
______________ [name of proxy] of ______________ [address of proxy] is hereby appointed agent and proxy for the undersigned in the above matter, to represent and vote for the undersigned [in favour of (Yes)]/ [against (No)] / [in favour of (Yes) or against (No) as such proxy in his or her discretion shall determine]* the approval of a proposal at the creditors’ meeting to be held in respect thereof on ______________/______________/______________ [insert date of meeting], or at any adjournment of such meeting.
______________ [Signature of creditor]
______________ [Name in block capitals]
______________ [Signature of Witness]
______________ [Witness Name in block capitals]
Dated ______________/______________/______________
*Strike out whatever is not desired.
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GIVEN under my Official Seal,
30 August 2013.
ALAN SHATTER,
Minister for Justice and Equality.
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URL: http://www.bailii.org/ie/legis/num_reg/2013/0335.html