Regulation 4 Amendment of the 2002 Regulations

In regulation 39 substitute for paragraph (2) the following–

“(2)

In Northern Ireland—

(a)

there shall not be treated as part of a bankrupt’s estate or claimed for his estate under Article 280 or 283 of the Insolvency (Northern Ireland) Order 1989^f1 any sum payable to an eligible student by way of a loan and which he receives or is entitled to receive after the commencement of the bankruptcy, whether his entitlement arises before or after the commencement of his bankruptcy; and

(b)

there shall not be included in a person’s bankruptcy debts any debt or liability to which he is or may become subject in respect of any sum payable to an eligible student by way of a loan and which he receives or is entitled to receive—

(i)

in the case of a bankruptcy commencing before 1st March 2005, after the commencement of the bankruptcy; or

(ii)

in the case of a bankruptcy commencing on or after 1st March 2005, before or after the commencement of the bankruptcy.”.