See www.lobbying.scot St Andrew’s House, Regent Road, Edinburgh EH1 3DG www.gov.scot ANNEX STATUTORY DEBT SOLUTIONS AND DILIGENCE: REFORM OVERVIEW Scottish Government approach to taking forward recommendations consulted on in “Scotland’s statutory debt solutions and diligence: policy review” Take forward through primary legislation Proposal 1.1 – bring forward proposals for a mental health moratorium Proposal 5.3 – exceptional attachment: extend redemption period from 7 days to 14 days where assets are not removed from the premises Proposal 5.6 – diligence on the dependence – ensure the Debt Advice and Information Pack (DAIP) is issued when an application is submitted Proposal 5.7 – money attachment: remove restrictions on when it can be executed Proposal 5.8 – introduce 21 day period for employers to confirm success of earnings arrestment Proposal 5.9 – introduce requirement for banks to report where a bank arrestment is unsuccessful within 21 days Take forward through secondary legislation Proposal 1.2 – requirement to provide an individual with a clear and succinct information leaflet for those considering a trust deed Proposal 2.1 – remove the minimum debt threshold for Minimal Asset Process (MAP) bankruptcy (DONE) Proposal 2.2 – remove MAP single asset threshold and uprate other asset thresholds Proposal 3.2 – Common Financial Tool (CFT): move from the Common Financial Statement to the Standard Financial Statement Proposal 3.3 – exclude one off support payments by government e.g. from the CFT when determining surplus income levels Proposal 3.5 – exclude mobility scooters from assets in bankruptcy and vesting with the trustee Proposal 3.7 – uprate vehicle thresholds Proposal 3.8 – put the PTD Protocol into legislation Proposal 4.8 – change the statutory rate of interest to the Bank of England base rate plus 2% - fixed at the date...