Commentary on Sections Schedule 1 (‘minimal asset’ debtors with few assets)
102.Schedule 1 is introduced by section 5(2) and introduces a new Schedule A1 (‘Debtors to whom section 5(2ZA) applies: application of Act’) to the 1985 Act to provide for its application to ‘minimal asset’ debtors. It includes provision for how that ‘minimal asset’ status modifies sequestration for the operation of the MAP, AiB’s duty to consider whether that status ceases to apply, the debtor’s right of appeal against such a decision and the modification of certain provisions of the 1985 Act where that status has ceased to apply.