Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 21 · Bankruptcy Miscellaneous Provisions
435. Debt Repayment Scheme Assistance Fund
Feedback & supportThe Official Assignee must maintain and administer a fund to be known as the Debt Repayment Scheme Assistance Fund (called in this section the Fund) in accordance with such regulations as may be prescribed.
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;
The following are to be paid into the Fund:
all moneys mentioned in section 434(4);
all costs and fees recovered by the Official Assignee in any proceedings under Part 15 in which moneys from the Fund were applied.
The Fund may be applied by the Official Assignee for such purposes as may be prescribed.
The Minister may from time to time pay such sums of moneys out of the Fund and into the Consolidated Fund as the Minister may determine.
Minister
“Minister” means —(a)except as provided in paragraph (b), the Minister charged with the responsibility for administration of affairs of insolvent persons and insolvent companies; and(b)for the purposes of sections 124(1)(g) and (2)(c), 125(5), 127(3) and 198, the Minister charged with the responsibility for registration of companies;
If any claimant makes any demand against the Official Assignee for any amount of unclaimed moneys paid into the Fund under subsection (2)(a), the Minister may direct that payment of that amount, free of interest, be made to the claimant out of the Consolidated Fund.