The Principal Act is amended by the insertion of the following after section 74:

"74A.

(1) Where -

(a) a personal insolvency practitioner has prepared a proposal for a Debt Settlement Arrangement and the debtor has consented to that proposal, and

(b) only one creditor would be entitled to vote at a creditors' meeting held under this Chapter (whether in respect of one or more debts),

the procedures specified in this section, and not those specified in sections 70, 72 and 73, shall apply in relation to the approval by that creditor of the proposal for a Debt Settlement Arrangement.

(2) A personal insolvency practitioner referred to in subsection (1) shall -

(a) give written notice to the creditor that the proposal for a Debt Settlement Arrangement has been prepared and that the creditor may, within the period specified in subsection (6)(a), notify the personal insolvency practitioner in writing of his or her approval or otherwise of that proposal,

(b) ensure that the notice referred to in paragraph (a) is accompanied by a copy of each of the documents referred to in section 71, and

(c) lodge a copy of the notice referred to in paragraph (a) and the documents referred to in paragraph (b) with the Insolvency Service.