50. Preparation and contents of the proposal.

A proposal for an individual voluntary arrangement (IVA)1 must identify the debtor2, explain why the debtor thinks an IVA is desirable, explain why the creditors are expected to agree to an IVA and must be authenticated and dated by the debtor3.

The proposal must set out the following so far as known to the debtor4:

  1.  

    (1)     in relation to assets:

    1.  

      (a)     the debtor's assets, with an estimate of their respective values;

    2.  

      (b)     which assets are charged and the extent of the charge;

    3.  

      (c)     which assets are to be excluded from the IVA; and

    4.  

      (d)     particulars of any property to be