Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 15 · Debt Repayment Scheme
292. Commencement and administration of debt repayment scheme
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A debt repayment scheme starts on the date the debtor's debt repayment plan comes into effect. The official assignee must run all such schemes and may charge prescribed fees. When a scheme starts, the official assignee must move any leftover deposit from the creditor who applied for bankruptcy into a scheme account to cover scheme costs.
Summary · Drafted with AI, checked against the official text on 30 Sep 2026.
A debt repayment scheme commences in respect of a debtor on the date on which a debt repayment plan comes into effect under section 291(8) in respect of that debtor.
debt
“debt” means any debt, or any liability to pay money, that is unsecured, present, certain, and of an amount that is fixed or liquidated;
The Official Assignee —
Official Assignee
“Official Assignee” means the Official Assignee appointed under section 16(1) and includes a Deputy Official Assignee, a Senior Assistant Official Assignee and an Assistant Official Assignee;
must administer all debt repayment schemes under this Part; and
may charge such fees as may be prescribed in respect of such administration.
Upon the commencement of a debt repayment scheme in respect of a debtor, the Official Assignee must pay out from the Bankruptcy Estates Account and into the Debt Repayment Schemes Account the balance of any deposit paid by the applicant creditor to the Official Assignee in respect of the relevant bankruptcy application made against the debtor, for the purpose of discharging the costs and expenses incurred by the Official Assignee in the administration of the scheme.
debtor
“debtor” means the individual to whom a debt repayment scheme applies under this Part;