Part 5: Debt Management and Relief Schedule 18: Schedule 4ZA to the Insolvency Act 1986 Schedule 21 – Regulations under sections 111 and 113 Section 127: Alternatives to termination
608.This section allows regulations to provide for alternatives to termination of an approval. Such regulations may provide for the transfer of the operation of a scheme to another body (to include transfer of the scheme from the scheme operator to the supervising authority itself). Such a transfer might be appropriate in order to protect debtors and creditors where, for example, the operator of the scheme no longer meets the terms of approval, but the scheme itself does comply with any relevant terms.