46. Debt Restructuring Arrangements: Eligibility Criteria

A debtor shall be eligible for a Debt Restructuring

Arrangement when such debtor meets all of the following criteria:-

the debtor is unable, or is likely to be unable to pay some or all of his or her debts as they become due;

the debtor is resident in Sri Lanka; or at any time within three years before the date of the making of a proposal for a Debt Restructuring

the debtor is not currently a bankrupt debtor;

is not subject to a Debt Rehabilitation Order under Part V.