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PART THREE - QUESTIONS FOR CONSULTATION
1. Impact of Protected Trust Deeds on debts owed to Credit Unions
1a Do you think that cancelling debt in a Protected Trust Deed has a particularly harsh impact on Credit Unions?
1b If yes, what evidence do you have to support your comments?
1c Do you think that Protected Trust Deeds should give special protection to Credit Unions?
2. Impact of Protected Trust Deeds on debts owed to other creditors
2a Do you think that cancelling debt in a Protected Trust Deed has a particularly harsh impact on any other creditor?
2b If yes, what other creditors are affected?
2c Do you think that Protected Trust Deeds should give special protection to any other type of creditor and which ones?
3. Impact of Protection on other creditors
3a Do you think that introducing special protection for credit unions (or another type of creditor) would unduly harm the interests of the rest of the creditors?
3b If yes, what evidence do you have to support your comments?
4. Appropriate type of Protection
4a Which of the following options do you think would be the most appropriate?
Option 1 (Do Nothing) -The intended reform of Protected Trust Deeds will be sufficient to protect the interests of all creditors, including Credit Unions.
Option 2 (Debts not Cancelled) - Debts due to Credit Unions should not be cancelled by Protected Trust Deeds.
4b Why do you think this option is most appropriate?
4c Do you have any other comments on these options that we should consider?
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