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The Bankruptcy and Protected Trust Deeds (Miscellaneous Amendments) (Scotland) Regulations 2017

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Citation and commencement

1.  These Regulations may be cited as the Bankruptcy and Protected Trust Deeds (Miscellaneous Amendments) (Scotland) Regulations 2017 and come into force on 1st May 2017.

Amendment of the Bankruptcy (Scotland) Regulations 2016

2.—(1) The Bankruptcy (Scotland) Regulations 2016(1) are amended as follows.

(2) For regulation 22 (conversion of foreign currency claims) substitute—

22.  For the purposes of sections 48(1)(a) and 126(5) of the Act, the manner of conversion into sterling of the amount of a claim stated in foreign currency is to be at a single exchange rate for that currency determined by the trustee with reference to the exchange rates prevailing at the close of business on the date of sequestration(2)..

(3) In schedule 1 (forms)—

(a)in Form 1 (debtor application), in the Statement of Undertakings, in undertaking 2, for “award” substitute “application”;

(b)in Form 13 (Statement of Undertakings), after “that” in the third line of undertaking 11, insert “date”;

(c)in Form 26 (debtor certificate of discharge (where the Accountant in Bankruptcy is the trustee))—

(i)for the title to the notes, for “Debtor certificate of discharge” substitute “Debtor certificate of discharge (where the Accountant in Bankruptcy is the trustee)”; and

(ii)in the notes at the third bullet point of (1), for “district court” substitute “justice of the peace court (or a district court)”; and

(d)in Form 27 (Debtor Certificate of Discharge (debtor to whom section 2(2) applies)), for “1985 (as amended)” substitute “2016”.

Amendment of the Protected Trust Deeds (Forms) (Scotland) Regulations 2016

3.—(1) The Protected Trust Deeds (Forms) (Scotland) Regulations 2016(3) are amended as follows.

(2) In the schedule—

(a)in the list of forms to be used in connection with protected trust deeds, in column 3 of the Table, in the entry for Form 3, for “and (i)” substitute “, section 171(1)(i)”;

(b)in Form 1B (agreement in respect of heritable property), in the third bullet point, for “if” substitute “of”;

(c)in Form 2 (statement of claim by creditors in trust deed), in the notes, for “to so” substitute “to do so”; and

(d)in the heading to Form 3 (trust deed protection proposal and trustee’s application) for “Section 170(1)(e) and (i)” substitute “Sections 170(1)(e), 171(1)(i)”.

PAUL WHEELHOUSE

Authorised to sign by the Scottish Ministers

St Andrew’s House,

Edinburgh

26th April 2017

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