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Regulation 12 Functions and duty of a money adviserI1

Scotland

(1)

It is a function of a money adviser F1, using the Common Financial Tool in the case of a debt payment programme for an individual, to—

(a)

provide money advice to a debtor;

(b)

liaise with creditors on behalf of a debtor;

F2(c)

assist a debtor with, and advise on an application—

(i)

for approval, variation or revocation of a debt payment programme; or

(ii)

for review of a determination under regulation 47.

(d)

prepare and submit on behalf of a debtor an application under these Regulations F3, in accordance with the Common Financial Tool in the case of a debt payment programme for an individual;

(e)

provide, as required by the DAS Administrator, evidence of or information about the participation of a debtor in a debt payment programme (including the debtor’s consent to any application for approval, variation or revocation in relation to which the adviser provided money advice); and

(f)

act as a lay representative in a court, where the adviser has accepted instructions by a debtor to act.

F4(1A)

Where a money adviser—

(a)

provides ongoing advice to the debtor and carries out administrative functions during the period of the debt payment programme; or

(b)

advises a debtor which is a legal person, trust or unincorporated body of persons,

(“a continuing money adviser”), it is also a function of that adviser to carry out the functions in paragraph (3).

F5(2)

A money adviser must not charge a fee for the adviser’s services to a debtor who is an individual.

(3)

F6The functions of a continuing money adviser referred to in paragraph (1A) are, following the submission of an application under these Regulations—

(a)

to review a debt payment programme in every twelfth month of operation F7(in accordance with the Common Financial Tool in the case of a debt payment programme for an individual); F8...

(b)

as soon as reasonably practicable to provide written notice to the DAS Administrator of—

(i)

any appointment or resignation of the adviser F9or any nominated person under regulation 22A(7)(b);

(ii)

on any resignation, why the money adviser F10or any nominated person under regulation 22A(7)(b) ceased to act; F11...

F12(iia)

on any resignation, the full name and business address of the replacement money adviser or nominated person; and

(iii)

any change of the debtor’s address F13; and

(c)

provide, as required by the DAS Administrator, information about the amount charged as a fee to a debtor for the adviser’s services in a debt payment programme.

(4)

Where there is no continuing money adviser for a debt payment programme under paragraph F14(1A), the DAS Administrator—

(a)

must in every twelfth month of the operation of the programme, invite the debtor to provide a statement of the debtor’s current financial circumstances; and

(b)

may, on receipt, notify the debtor that the debtor may wish to take the advice of a money adviser on a review of the programme.

(5)

A money adviser must have regard to guidance issued by the DAS Administrator when carrying out a function of an adviser.

Annotations

Textual amendments

F1

Words in reg. 12(1) inserted (1.4.2015) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014 (S.S.I. 2014/294), regs. 1(3), 8(1)(a) (with reg. 23(1)-(3))

F2

Reg. 12(1)(c) substituted (2.7.2013) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2013 (S.S.I. 2013/225), regs. 1(2), 16(2) (with reg. 20(2))

F3

Words in reg. 12(1)(d) inserted (1.4.2015) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014 (S.S.I. 2014/294), regs. 1(3), 8(1)(b) (with reg. 23(1)-(3))

F4

Reg. 12(1A) inserted (4.11.2019) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2019 (S.S.I. 2019/315), regs. 1, 4(2)(a) (with reg. 13)

F5

Reg. 12(2) substituted (4.11.2019) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2019 (S.S.I. 2019/315), regs. 1, 4(2)(b) (with reg. 13)

F6

Words in reg. 12(3) substituted (4.11.2019) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2019 (S.S.I. 2019/315), regs. 1, 4(2)(c) (with reg. 13)

F7

Words in reg. 12(3)(a) inserted (1.4.2015) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014 (S.S.I. 2014/294), regs. 1(3), 8(2) (with reg. 23(1)-(3))

F8

Word in reg. 12(3) omitted (2.7.2013) by virtue of The Debt Arrangement Scheme (Scotland) Amendment Regulations 2013 (S.S.I. 2013/225), regs. 1(2), 6(3)(i) (with reg. 20(1))

F9

Words in reg. 12(3)(b)(i) inserted (11.12.2014) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014 (S.S.I. 2014/294), regs. 1(2), 7(b)

F10

Words in reg. 12(3)(b)(ii) inserted (11.12.2014) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014 (S.S.I. 2014/294), regs. 1(2), 7(b)

F11

Word in reg. 12(3)(b) omitted (11.12.2014) by virtue of The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014 (S.S.I. 2014/294), regs. 1(2), 7(c)(i)

F12

Reg. 12(3)(b)(iia) inserted (11.12.2014) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014 (S.S.I. 2014/294), regs. 1(2), 7(c)(ii)

F13

Reg. 12(3)(c) and word inserted (2.7.2013) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2013 (S.S.I. 2013/225), regs. 1(2), 6(3)(ii) (with reg. 20(1))

F14

Word in reg. 12(4) substituted (4.11.2019) by The Debt Arrangement Scheme (Scotland) Amendment Regulations 2019 (S.S.I. 2019/315), regs. 1, 4(2)(d) (with reg. 13)

Commencement

I1

Reg. 12 in force at 1.7.2011, see reg. 1