BANKRUPTCY REGULATIONS 2021 (F2021L00261) - REG 55 Presentation of debt agreement proposal

BANKRUPTCY REGULATIONS 2021 (F2021L00261) - REG 55

             (1)  This section applies if a debtor intends to give the Official Receiver a debt agreement proposal under subsection 185C(1) of the Act and the debtor is:

                     (a)  unable to read the relevant material, because the debtor:

                              (i)  is blind or has low vision; or

                             (ii)  is illiterate or partially literate; or

                            (iii)  is insufficiently familiar with the English language; or

                     (b)  unable to sign the debt agreement proposal because of a physical incapacity.

             (2)  The debt agreement proposal may be signed on behalf of the debtor by another person, who must also sign a statement:

                     (a)  if subparagraph (1)(a)(i) or (ii) applies--that the person has read the relevant material to the debtor; or

                     (b)  if subparagraph (1)(a)(iii) applies--that the person has interpreted the relevant material to the debtor in a language with which the person and the debtor are familiar; or

                     (c)  if paragraph (1)(b) applies--that the person believes that the debtor has read and understood the relevant material.

             (3)  In this section:

"relevant material " means the debt agreement proposal and the information prescribed by section 54.