Regulation 15 Functions and duty of a payments distributor

(1)

It is a function of a payments distributor–

(a)

to assist a money adviser with, and advise on, payments distribution;

(b)

to distribute sums received by the distributor in accordance with the debt payment programme, or any agreement for voluntary payment of a continuing liability;

(c)

to provide payment and distribution reports to money advisers, and to creditors;

(d)

subject to paragraph (2), to provide a facility for voluntary payment by a debtor of a continuing liability; and

(e)

to provide information to the DAS administrator about the exercise of a function of a payments distributor.

(2)

Where a payments distributor is not providing the facility specified in paragraph (1)(d), the distributor may elect in respect of each period of approval under regulation 13(5), or part of a period if an election is made other than at the start of the period, whether or not to provide that facility.

(3)

A payments distributor shall have regard to guidance issued by the DAS administrator when carrying out a function of a distributor.