Rule 3 - Definitions

Personal guarantor insolvency framework clarifies definitions and service rules for initiating insolvency resolution proceedings under the Code.

Definitions set key terms for insolvency proceedings against personal guarantors: Adjudicating Authority identifies the competent tribunal; Code and electronic form are adopted by reference; 'form' means appended forms; 'guarantor' is a debtor whose invoked guarantee to a corporate debtor is unpaid; service may be effected by registered post, courier or electronic means with an acknowledgement, and where those modes fail documents may be affixed conspicuously; undefined terms take their meanings from the Code.