116. Effect of Personal Insolvency Arrangement.

(1) Upon a Personal Insolvency Arrangement being registered in the Register of Personal Insolvency Arrangements it shall have effect according to its terms and remain in effect until -

(a) it is completed in accordance with its terms or the terms of any variation made, or

(b) it is terminated in accordance with this Chapter.

(2) While a Personal Insolvency Arrangement is in effect, the following shall be parties to it and, subject to this Act, shall be bound by its terms -

(a) the debtor, and

(b) in respect of every specified debt, the creditor concerned.

(3) Where a Personal Insolvency Arrangement is in effect, a creditor who is bound by it shall not, in relation to a specified debt -

(a) initiate any legal proceedings;

(b) take any step to prosecute legal proceedings already initiated;

(c) take any step to secure or recover payment;

(d) execute or enforce a judgment or order of a court or tribunal against the debtor;

(e) take any step to enforce security held by the creditor;

(f) tak

…