Regulation 5 Approved money adviser for legal persons and other entities

For regulation 7(3) (debtor to have approved money adviser), substitute—

“(3)

The money adviser who advises a debtor and intends to resign must assist a debtor in finding a replacement money adviser before the money adviser resigns.”.

After regulation 8 (approved categories of money advisers), insert—

“Approved money advisers: legal persons and other entities

8A.

Where the debtor is a legal person, trust or unincorporated body of persons, the money adviser who advises the debtor must be a money adviser in the category specified in regulation 8(a).”.