# The Debt Arrangement Scheme (Scotland) Amendment Regulations 2014, Regulation 7: Functions and duty of a money adviser


In regulation 12 (functions and duty of a money adviser)—
(a) in paragraph (3), after “to a debtor” where it first occurs insert “or advises a debtor which is a legal person, trust or unincorporated body of persons”;
(b) in both heads (i) and (ii) of paragraph (3)(b), after “adviser” insert “or any nominated person under regulation 22A(7)(b)”;
(c) after paragraph (3)(b)(ii)—
(i) omit “and”; and
(ii) insert—
“(iia) on any resignation, the full name and business address of the replacement money adviser or nominated person; and”; and
(d) after regulation 12 insert—
“Additional functions and duty of a money adviser: legal persons and other entities
12A. Where the debtor is a legal person, trust or unincorporated body of persons a money adviser must—
(a) in any review under regulation 12(3)(a) include a declaration of viability;
(b) if unable to make such a declaration because the money adviser considers the debtor does not meet the requirements contained in regulation 22A(7)(c), apply as soon as reasonably practicable for revocation under regulation 41; and
(c) on becoming aware of information which causes the adviser to believe that a ground for revocation under regulation 42(1) is met, apply as soon as reasonably practicable for revocation under regulation 41.”.

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Source: https://www.legislation.gov.uk/sdsi/2014/9780111024416/regulation/7 (the official version)
Page: https://openlegislation.uk/draft-debt-arrangement-scheme-scotland-amendment-regulations-2014/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.