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The Debt Arrangement Scheme (Scotland) Regulations 2011

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Interpretation: debt

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3.—(1) In these Regulations, “debt” includes any sum due by a debtor—

(a)constituted by—

(i)decree or document of debt;

(ii)judicial or contractual interest;

(iii)charges or penalties due under a contract on any default in respect, or breach of, that contract;

(iv)lease or tenancy agreement;

(v)enactment;

(b)secured by a standard security, to the extent that the sum is arrears of a periodic payment due to be paid under a loan agreement so secured;

(c)recoverable from the debtor as enforcement expenses.

(2) In these Regulations, “debt” excludes any sum due by a debtor—

(a)to the extent it is secured by a standard security, other than where that sum is included under paragraph (1)(b);

(b)as a liability for the purpose of section 17(2B) of the Legal Aid (Scotland) Act 1986(1).

(1)

Subsection (2B) was inserted by the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (c.40), Schedule 8, paragraph 36.

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