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Bankruptcy (Scotland) Act 2016

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This is the original version (as it was originally enacted).

6Sequestration of other estates

(1)The estate belonging to any of the following (or held for or jointly by, as the case may be, the trustees, partners or members of any of the following) may be sequestrated—

(a)a trust in respect of debts incurred by it,

(b)a partnership (including a dissolved partnership),

(c)a body corporate,

(d)an unincorporated body,

(e)a limited partnership (including a dissolved limited partnership) within the meaning of the Limited Partnerships Act 1907.

(2)But it is not competent to sequestrate the estate of any of the following—

(a)a company registered under the Companies Act 2006,

(b)a limited liability partnership, or

(c)any other entity if it is an entity in respect of which an enactment provides, expressly or by implication, that sequestration is incompetent.

(3)The sequestration of a trust estate in respect of debts incurred by the trust is—

(a)by debtor application made by a majority of trustees, with the concurrence of a qualified creditor or qualified creditors, or

(b)on the petition of—

(i)a temporary administrator,

(ii)a member State liquidator appointed in main proceedings, or

(iii)a qualified creditor or qualified creditors, if the trustees as such are apparently insolvent.

(4)The sequestration of the estate of a partnership is—

(a)by debtor application made by the partnership where the partnership is apparently insolvent,

(b)by debtor application made by the partnership with the concurrence of a qualified creditor or qualified creditors, or

(c)on the petition of—

(i)a temporary administrator,

(ii)a member State liquidator appointed in main proceedings,

(iii)a trustee acting under a trust deed, or

(iv)a qualified creditor or qualified creditors, if the partnership is apparently insolvent.

(5)For the purposes of an application under subsection (4)(a), section 16(4) is to be read as if—

(a)the word “either”, and

(b)the words “or if any of the partners is apparently insolvent for a debt of the partnership”,

were omitted.

(6)A petition under subsection (4)(c) may be combined with a petition for the sequestration of the estate of any of the partners as an individual where that individual is apparently insolvent.

(7)The sequestration of the estate of a body corporate or of an unincorporated body is—

(a)by debtor application made by a person authorised to act on behalf of the body, with the concurrence of a qualified creditor or qualified creditors, or

(b)on the petition of—

(i)a temporary administrator,

(ii)a member State liquidator appointed in main proceedings, or

(iii)a qualified creditor or qualified creditors, if the body is apparently insolvent.

(8)The application of this Act to the sequestration of the estate of a limited partnership is subject to such modifications as may be prescribed.

(9)Subsections (3)(a) of section 8 and (3) to (6) of section 10 apply for the purposes of this section as they apply for the purposes of their respective sections.

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