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Bankruptcy and Diligence etc. (Scotland) Act 2007

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This is the original version (as it was originally enacted).

15Debtor applications by low income, low asset debtors

This section has no associated Explanatory Notes

(1)In section 5 of the 1985 Act, in subsection (2B)(c)—

(a)the word “either” is repealed; and

(b)after sub-paragraph (i) insert—

(ia)is unable to pay his debts and each of the conditions in section 5A of this Act is met;.

(2)After section 5 of that Act insert—

5ADebtor applications by low income, low asset debtors

(1)The conditions referred to in section 5(2B)(c)(ia) of this Act are as follows.

(2)The debtor’s weekly income (if any) on the date the debtor application is made does not exceed £100 or such other amount as may be prescribed.

(3)The debtor does not own any land.

(4)The total value of the debtor’s assets (leaving out of account any liabilities) on the date the debtor application is made does not exceed £1000 or such other amount as may be prescribed.

(5)The Scottish Ministers may by regulations—

(a)make provision as to how the debtor’s weekly income is to be determined;

(b)provide that particular descriptions of income are to be excluded for the purposes of subsection (2) above;

(c)make provision as to how the value of the debtor’s assets is to be determined;

(d)provide that particular descriptions of asset are to be excluded for the purposes of subsection (4) above;

(e)make different provision for different classes or description of debtor;

(f)add further conditions which must be met before a debtor application may be made by virtue of section 5(2B)(c)(ia) of this Act; and

(g)where such further conditions are added—

(i)remove; or

(ii)otherwise vary,

those conditions..

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