Subject to subsection (3) below, if it appears to the court just to do so—
(a) on an application for an enforcement order; or
(b) on an application made by a debtor or hirer under this paragraph after service on him of—
(i) a default notice, or
(ii) a notice under section 76(1) or 98(1); or
(bza) on an application made by a debtor under this paragraph after the creditor has informed the debtor of the creditor's intention—
(i) to enforce a term of a regulated deferred payment credit agreement by—aademanding earlier payment of any sum,bbtreating any right conferred on the debtor by the agreement as terminated, restricted or deferred, or
(ii) to terminate a regulated deferred payment credit agreement, or
(ba) on an application made by a debtor or hirer under this paragraph after he has been given a notice under section 86B or 86C; or
(c) in an action brought by a creditor or owner to enforce a regulated agreement or any security, or recover possession of any goods or land to which a regulated agreement relates,
the court may make an order under this section (a "time order ").
A time order shall provide for one or both of the following, as the court considers just—
(a) the payment by the debtor or hirer or any surety of any sum owed under a regulated agreement or a security by such instalments, payable at such times, as the court, having regard to the means of the debtor or hirer and any surety, considers reasonable;
(b) the remedying by the debtor or hirer of any breach of a regulated agreement (other than non-payment of money) within such period as the court may specify.
Where in Scotland a time to pay direction or a time to pay order has been made in relation to a debt, it shall not thereafter be competent to make a time order in relation to the same debt.