36. Protection of a reasonable income

Under any personal insolvency procedure, a debtor shall not be required to make contributions from the protected income, which for the purposes of this Act, means the income of a debtor necessary for meeting the reasonable needs of the debtor and dependants of the debtor.

For the purposes of this Act, and subject to subsection (6), the following amounts shall constitute a debtor’s protected income:-

For the purposes of this Act, and subject to subsection (5), the debtor’s monthly surplus income is, unless under exceptional circumstances, the amount by which a debtor’s monthly income exceeds the debtor’s protected income.

Where exceptional circumstances particular to the debtor and the debtor's dependants mean that their reasonable needs are greater than would be the case in the absence of such exceptional circumstances —

For the purposes of this Act, the debtor’s income comprises every payment in the nature of income which is from time to time made to the debtor or to which the debtor from time to time becomes entitled, including any payment in respect of the carrying on of any business or in respect of any office or employment, and, subject to section 35 any payment under a provident fund, employees trust fund or pension established for the benefit of employees.

The Authority may from time to time issue guidelines on the calculation of the income necessary for meeting the reasonable needs of the debtor and the debtor’s dependants in the circumstances specified in subsection (4).