Regulation 19 Grounds for revocation: legal persons and other entities

(1)

In regulation 42(1) (grounds for revocation)—

(a)

omit “or” after each of sub-paragraphs (b) and (c); and

(b)

at the end of sub-paragraph (d) insert—

“; or

(e)
in the case of a debtor which is a legal person, trust or unincorporated body of persons—

(i)
the format of that debtor changes during the period of the debt payment programme;

(ii)
a money adviser is unable to make a declaration of viability in accordance with regulation 12(3)(a) and 12A(a) because the money adviser considers the debtor no longer meets the requirements contained in regulation 22A(7)(c); or

(iii)
the consent of an individual who consented under regulation 22A(2)(a), (3), (4) or (5) is withdrawn”.

(2)

After regulation 42(3) insert—

“(4)
In this regulation, “the format of that debtor changes” means—

(a)
in the case of a partnership or limited partnership with less than 5 partners, membership of the partnership changes;

(b)
in the case of a trust with less than 5 trustees, when one of the trustees is divested of his interest in the trust;

(c)
in the case of a corporate body (other than a company registered under the Companies Act 2006) or an unincorporated body of persons, where there is a material change in the objects or membership of the body.”.