Commentary on Sections Discharge following sequestration Section 18 – Repeal of discharge on composition
37.This section repeals section 56 (‘discharge on composition’), section 56K (‘effect of discharge on approval of offer of composition’) of and schedule 4 to the 1985 Act. Changes made by this section provide for the removal from sequestration of the option for the debtor to propose a composition settlement (a debt relief settlement where debtors must offer partial repayment of no less than 25 pence in the pound) with the creditors in return for a final discharge of their claims.