Financial Services Bill

Insert the following new Clause—

“Amendment of Tribunals, Courts and Enforcement Act 2007

In section 124 of the Tribunals, Courts and Enforcement Act 2007 (charges by operator of approved scheme), omit subsections (1) and (2) and insert—

“(1) The operator of an approved scheme may recover its charges from debtors or affected creditors (or both).

(2) In this section—

“charges” means the costs which the operator incurs, taking one year with another, in connection with the approved scheme along with any charges made by the operator, so far as those costs and charges are reasonable;

“debtors” means—

(a) debtors who make requests for debt repayment plans to be arranged in accordance with the approved scheme, and

(b) debtors for whom debt repayment plans are arranged in accordance with the approved scheme.””