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This is the original version (as it was originally enacted).

188Redemption of banking instrument

This section has no associated Explanatory Notes

(1)The debtor may, before the expiry of the period of 14 days beginning with the date on which the report of money attachment is made, redeem a banking instrument attached by the money attachment.

(2)The debtor may not redeem an instrument in relation to which an order under section 181(3) of this Act has been made.

(3)The amount for which such an instrument may be redeemed is the value of the instrument specified in the report of money attachment.

(4)The judicial officer must, on receiving payment from the debtor for the redemption of an attached instrument—

(a)grant a receipt in (or as nearly as may be in) the form prescribed by Act of Sederunt to the debtor; and

(b)report the redemption to the sheriff as soon as is reasonably practicable.

(5)The money attachment ceases, on the grant of such a receipt, to have effect in relation to the redeemed instrument.

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