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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 25 June 2021 - onwards
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54. Statement to be prepared by personal insolvency practitioner.

On receipt of an instruction under section 53, the personal insolvency practitioner shall complete a statement confirming that he or she is of the opinion that -

(a) the information contained in the debtor's Prescribed Financial Statement is complete and accurate;

(b) the debtor is eligible under section 57 or 91, as the case may be, to make a proposal for a Debt Settlement Arrangement or Personal Insolvency Arrangement, as the case may be;

(c) having considered the Prescribed Financial Statement completed by the debtor, there is no likelihood of the debtor becoming solvent within the period of 5 years commencing on the date on which the statement is made;

(d) having regard to the debtor's circumstances as set out in the Prescribed Financial Statement, it is appropriate for the debtor to make a proposal for a Debt Settlement Arrangement as there is a reasonable prospect that the debtor entering into such an arrangement would facilitate the debtor becoming solvent within a period of not

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