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Bankruptcy (Scotland) Act 2016

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This is the original version (as it was originally enacted).

135Further provision as to procedure after end of accounting period

(1)The trustee in the sequestration must pay to the creditors their dividends in accordance with the scheme of division on—

(a)the expiry of the 8 weeks mentioned in section 134(1), or

(b)if there is an appeal under that subsection, on the final determination of the last such appeal.

(2)There must be deposited by the trustee, in an appropriate bank or institution, any dividend—

(a)allocated to a creditor but not cashed or uplifted, or

(b)dependent on a claim in respect of which an amount has been set aside under subsection (5) or (7) of section 131.

(3)If a creditor’s claim is revalued, the trustee may—

(a)in paying any dividend to that creditor, make such adjustment to it as the trustee considers necessary to take account of that revaluation, or

(b)require the creditor to repay to the trustee the whole or part of a dividend already paid to the creditor.

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