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Bankruptcy and Diligence etc. (Scotland) Act 2007

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Bankruptcy and Diligence etc. (Scotland) Act 2007, Section 177 is up to date with all changes known to be in force on or before 21 January 2019. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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177Removal of money attachedS

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(1)The [F1officer of court] must attach and remove, from the place in which it is found, such money, the value of which in the opinion of the officer does not exceed a sum equal to the sum mentioned in subsection (2) below (in this Part, the “sum recoverable by the money attachment”).

(2)That sum is—

(a)the sum for the payment of which the charge was served, together with any interest accruing after such service and before the money attachment ceases to have effect; and

(b)all expenses which are chargeable against the debtor by virtue of the money attachment.

(3)Where cash in a currency other than sterling is attached, the [F2officer of court] must, as soon as reasonably practicable after attaching it, convert that cash into sterling.

(4)The [F2officer of court] must take all reasonable steps to obtain the highest amount for such cash as is practicable.

(5)The [F2officer of court] must deposit any cash attached and any proceeds of converting cash in a currency other than sterling in a bank account.

(6)The [F2officer of court]

(a)need not attach any banking instruments other than cheques unless instructed to do so by the creditor; and

(b)is not liable to the creditor for any loss caused by the failure to attach any such instruments unless so instructed.

(7)The [F2officer of court] must, subject to section 180(1) of this Act, value any instruments attached at the price which they are likely to fetch on the open market.

(8)Where any instruments are attached, the [F2officer of court] must ensure that they are kept in a secure place.

(9)In this Part, any reference to money being attached includes a reference to it being removed under subsection (1) above.

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