Individual Voluntary Arrangement definition

Individual Voluntary Arrangement means an arrangement made under the provisions of Part VIII of the Insolvency Act 1986.
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Individual Voluntary Arrangement means an arrangement made under the provisions of the Insolvency Act 1986, any successor thereof or any legislation in any jurisdiction outside England and Wales to the same effect.
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Individual Voluntary Arrangement means a voluntary arrangement pursuant to Chapter II of Part VIII of the 1989 Order;
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Examples of Individual Voluntary Arrangement in a sentence

  • If you are a sole trader and you enter into an Individual Voluntary Arrangement (IVA) or a Debt Arrangement Scheme (DAS), in connection with your business, you must tell us using your SMS account within 20 working days.

  • Charging Order information may also be provided by the Land Registry.Bankruptcies, Individual Voluntary Arrangement, debt relief orders and similar eventsWe obtain data about insolvency related events that happen to customers and may also obtain this type of data about businesses.

  • There is a procedure by which the partnership business can be wound up (a little like the winding up of a company, discussed below), while individual partners may become bankrupt or subject to an Individual Voluntary Arrangement.

  • So if he or she has a poor credit record, becomes bankrupt, or enters into an Individual Voluntary Arrangement (or similar arrangement in Scotland), it might affect your chances of getting a loan or other credit, both as a partner and as an individual.

  • You enter into an Individual Voluntary Arrangement with your creditors or have a Bankruptcy petition presented against you.

  • Where an individual has been declared bankrupt or been subject to an Individual Voluntary Arrangement (particularly if it is recent), it is likely that an application for that individual to be approved as a HoFA will be refused as the role requires both financial capability as well as probity.

  • An Individual Voluntary Arrangement (IVA) is a statutory contract between a debtor and his or her creditors under which an insolvency practitioner will have powers and duties.

  • The PD model is built on a default definition of six or more months in arrears in the next twelve months, or earlier if there is an indication that the borrower is unlikely to repay (e.g. if the borrower is less than six months in arrears but has been made bankrupt or has entered into an Individual Voluntary Arrangement).

  • Where we are looking at progressing formal debt solutions like an Individual Voluntary Arrangement (IVA) then statutory anti-money laundering checks may be undertaken by the Insolvency Practitioner.

  • Where the debt is no longer collectable by the Council e.g. bankruptcy, Debt Relief Order, Individual Voluntary Arrangement, the Council can assess the behaviour that led to the uncollectable debt and reserves the right to exclude, suspend or reduce the priority banding of an applicant for 1-3 years, taking into account the amount of uncollectable debt and the behaviour that led to it.


More Definitions of Individual Voluntary Arrangement

Individual Voluntary Arrangement means a voluntary arrangement under Part 8 of the Insolvency Act 1986;
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Related to Individual Voluntary Arrangement

  • Individual Agreement means an employment, consulting or similar agreement between a Participant and the Company or one of its Subsidiaries or Affiliates.

  • Societal benefits charge means a charge imposed by an electric

  • Disability Support Pension means the Commonwealth pension scheme to provide income security for persons with a disability as provided under the Social Security Act 1991, as amended from time to time, or any successor to that scheme.

  • Change in Control Agreement means a written Change in Control Agreement between an employee and the Company or an Affiliate.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Selective contracting arrangement means an arrangement in which the NJ FamilyCare Program participates in selective contracting with one or more providers, and which arrangement contains reasonable benefit differentials, including, but not limited to, predetermined fee or reimbursement rates for covered benefits applicable to participating and nonparticipating providers.

  • Change of Control Agreement means the Change of Control letter agreement between the Company and the Executive of even date herewith.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Simplified and/or aggregate billing arrangement means a billing arrangement providing additional medical gap benefits.

  • Eligible Termination means the involuntary termination of Participant’s employment without Cause, provided that at the time of such termination Participant is a Senior Officer and has completed at least ten (10) years of service as a Senior Officer.

  • Elective Contribution means the Employer's contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.6 shall be considered an Elective Contribution for purposes of the Plan. Any such contributions deemed to be Elective Contributions shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the discrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Waiver eligibility span means the twelve-month period following either an individual's initial waiver enrollment date or a subsequent eligibility re- determination date.

  • Qualifying Control Agreement means an agreement, among a Loan Party, a depository institution or securities intermediary and the Administrative Agent, which agreement is in form and substance acceptable to the Administrative Agent and which provides the Administrative Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described therein.

  • referral arrangement means any arrangement in which a registrant agrees to pay or receive a referral fee;

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Covered agreement means an agreement entered into pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, 31 U.S.C. 313 and 314, that is currently in effect or in a period of provisional application and addresses the elimination, under specified conditions, of collateral requirements as a condition for entering into any reinsurance agreement with a ceding insurer domiciled in this state or for allowing the ceding insurer to recognize credit for reinsurance.

  • Special benefit means a particular and distinct benefit over and above general benefits conferred on real property located in the district or to the public at large. General enhancement of property value does not constitute “special benefit.”

  • Compensation Arrangement means any direct or indirect compensatory payment or other financial agreement, arrangement or understanding with any person or entity other than the Corporation, including any agreement, arrangement or understanding with respect to any direct or indirect compensation, reimbursement or indemnification in connection with candidacy, nomination, service or action as a nominee or as a director of the Corporation;

  • Salary Reduction Agreement means an agreement between a dis- trict and an employee to reduce the employee’s salary for the pur- pose of making direct contributions to or purchases of a qualified investment product. Art. 6228a-5, Sec. 4(5), Tex. Rev. Civ. Stat.

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Termination Benefit means the benefit set forth in Article 7.

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Continuing care retirement community means a residential

  • Security Based Compensation Arrangement means a stock option, stock option plan, employee stock purchase plan or any other compensation or incentive mechanism involving the issuance or potential issuance of Shares to Directors, officers, Employees and/or service providers of the Corporation or any subsidiary of the Corporation, including a share purchase from treasury which is financially assisted by the Corporation by way of a loan, guarantee or otherwise;