Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3)

Part 4 S Land attachment and residual attachment

Chapter 3 S Residual attachment

Termination, discharge etc. of residual attachment S

Prospective

139 Termination by payment etc. S

(1) Subject to subsection (2) below, if the full sum recoverable by the residual attachment is either paid or tendered to—

(a) the creditor;

(b) where one has been appointed, the appointed person; or

(c) [F1 an officer of court] or any other person who has authority to receive payment on behalf of the creditor,

the residual attachment ceases to have effect.

(2) Subsection (1) above does not apply unless the sum is paid or tendered before—

(a) where a satisfaction order authorising sale of the attached property is made, a contract of sale of the attached property is concluded; or

(b) in any other case, the attached property is otherwise disposed of.

Textual Amendments

F1 Words in s. 139(1)(c) substituted (31.1.2011) by Public Services Reform (Scotland) Act 2010 (asp 8), s. 134(7), Sch. 4 para. 25(a); S.S.I. 2011/30, art. 3(1)(3), Sch. 1