Debt Arrangement Scheme (Scotland) Amended Regulations 2013

Introduction Items for discussion: Revised DAS legislation implemented 2 July 2013 Summary of DAS Review Board Summary of DASH user group discussion IT development update

Key regulation amendments Freeze interest, fees and charges earlier at the application stage. Clarify when the DAS Administrator can correct errors Improve access for joint applications Composition Review process (regulation 47) More flexible payment break duration

DAS Review Board Representation on board: AiB staff Executive staff from Money Advice and Citizens Advice Scotland HMRC BBA (British Banking Association) IPA/ICAS ABCUL (Credit Unions)

DAS Review Board Main points of discussion in last few meetings: Creditor Engagement Strategy of DAS team New Legislation, before and after Best practices, job shadowing Feedback from DAS team visits to stakeholders invited discussion on secured debt and diligence Selling on of debts Introduction of the DAS newsletter Minutes published on DAS website

DASH User group Representation on board included AiB staff, Major Creditors, Money Advisors & Payments Distributors First meeting held March Meetings specifically deal with grass root system issues Fed into DAS system requirements paper Third meeting considered the requirements paper and suggested amendments.

IT Development Update Initial upgrades to accommodate 2013 regulations. Paper approved by AiB Board in consultation with PD Panel members, DAS Review Board and DASH user group. Currently with AiB IT developers for investigation.

IT Development Update Proposed upgrades include: Return variation facility Creditor letters Data download Missed payment notification Auto-save Underpayments Variation screen update Revocation screen update Spellcheck Case lock

Growth of DAS 1170 DPPs approved between July – September 2013 (5.4% increase from Q2, 2012/13) 400% increase in DAS DPPs since % reduction in revocation applications from April-June to July– September 2013 (547) 1% reduction in variation applications from April-June to July-September 2013 (605) DAS repaid £7.2 million this quarter (£1.6 million more than same quarter last year)

AIB DAS Administrator Team Contact details Telephone: Fax: Mail: DAS Team 1 Pennyburn Road Kilwinning Ayrshire KA13 6SA

Kelly Quigley, Head of DAS and Insolvency Registrations , 1 Pennyburn Road, Kilwinning, Ayrshire, KA13 6SA T F W THANK YOU