Bankruptcy and Diligence etc. (Scotland) Act 2007

25 (1) Section 26 (provisions relating to termination of interim trustee’s functions) is amended as follows.

(2) Before subsection (1), insert—

“(A1) This section applies where a replacement trustee is appointed under section 25 of this Act.”.

(3) In subsection (1), for the words from “Where” to “office” substitute “The original trustee, shall, on the appointment of the replacement trustee”.

(4) In subsection (2)—

(a) for the words from “confirmation” to “interim”, where it first occurs, substitute “appointment of the replacement trustee, the original”; and

(b) in paragraph (b), for “permanent”, where it first occurs, substitute “replacement”.

(5) After subsection (2), insert—

“(2A) Where the original trustee was appointed under section 2(5) of this Act as the interim trustee in the sequestration, his accounts and the claim referred to in subsection (2)(a) above shall include accounts and a claim for the period of his appointment as interim trustee.”.

(6) In subsection (3)—

(a) in paragraph (a)(ii), for “interim” substitute “original”;

(b) in paragraph (b)(i), for “interim”, where it first occurs, substitute “original”; and

(c) in paragraph (b)(ii)—

(i) for “interim” substitute “original”; and

(ii) for “permanent” substitute “replacement”.

(7) In subsection (4)—

(a) for “interim” substitute “original”; and

(b) for “permanent” substitute “replacement”.

(8) In subsection (5)—

(a) for “permanent” substitute “replacement”;

(b) for “confirmed in office” substitute “appointed”;

(c) for “confirmation” substitute “appointment”; and

(d) for “interim” substitute “original”.

(9) In subsection (5A), for “interim” substitute “original”.

(10) The heading to that section becomes “Provisions relating to termination of original trustee’s functions”.