No Asset Procedure discharge date

A No Asset Procedure (NAP) typically lasts for a period of 12 months. The Bill proposes to extend the period of the NAP where the Official Assignee receives an objection or information from a creditor and other interested parties about a debtor’s entry to the NAP shortly before the expected discharge date. The Official Assignee can extend the period of the NAP by up to 25 working days to allow time for an objection or information to be properly considered and for the debtor to be given an opportunity to provide further information.

This change is proposed to apply to all NAPs that remain undischarged at the date of enactment and to all new NAPs that are entered into after the date of enactment.

For more information about NAPs, please visit our NAP section.