Varying, Terminating or Setting Aside a Personal Insolvency Agreement:
1.Debtor's can make a written request to their trustee to vary the terms of the agreement. the trustee sends a notice of the proposed variation to the creditors.If none abject in writing the terms will be varied. If a creditor objects, a creditors meeting can be called to consider the proposed variation.
2.Creditors with the debtor's written consent, can vary the terms of an agreement by passing a special resolution.
3.An agreement can be terminated by the occurrence of an event specified in the agreement as causing termination.
4.An agreement can also be terminated by a resolution of the creditors where the trustee is satisfied that the debtor is not complying with their obligations.
5. The court can set aside or terminate an agreement in certain circumstances.
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