A moratorium commences on the effective date1 for a debt relief order2 in relation to each qualifying debt3 specified in the order ('a specified qualifying debt')4. During the moratorium, the creditor to whom a specified qualifying debt is owed5 has no remedy in respect of the debt6, and may not commence a creditor's petition in respect of the debt or otherwise commence any action or other legal proceedings against the debtor7 for the debt, except with the permission of the court8 and on such terms as the court may impose9.
If on the effective date a creditor to whom a
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You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or transaction•in the form of a document, notwithstanding the form of the underlying document, fact, event or transactionThe purpose of the notarial act is
Disposal and devolutionThe equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:•transfer, lease or mortgage inter vivos, or•by will (it passes on intestacy)No cloggingIt is a fundamental principle of a mortgage that there must be no clog
This Practice Note considers the different categories of contractual damages that may be available for financial loss (pecuniary loss), ie expectation-based damages, reliance-based damages and gains-based damages.For guidance on contractual damages generally, see Practice Note: Contractual
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