Statutory meeting of creditors and confirmation of permanent trustee
24 Election of permanent trustee.
F11
At the statutory meeting, the creditors shall, at the conclusion of the proceedings under section 23(3) of this Act, proceed to the election of the permanent trustee.
2
None of the following persons shall be eligible for election as permanent trustee, nor shall anyone who becomes such a person after having been elected as permanent trustee be qualified to continue to act as permanent trustee—
a
the debtor;
b
a person who is not qualified to act as an insolvency practitioner or who, though qualified to act as an insolvency practitioner, is not qualified to act as such in relation to the debtor;
c
a person who holds an interest opposed to the general interests of the creditors;
d
a person who resides outwith the jurisdiction of the Court of Session.
F2e
a person who has not given an undertaking, in writing, to act as permanent trustee;
f
the Accountant in Bankruptcy.
3
The following persons shall not be entitled to vote in the election of the permanent trustee—
a
anyone acquiring a debt due by the debtor, otherwise than by succession, after the date of sequestration;
b
any creditor to the extent that his debt is a postponed debt.
F23A
In any case where the Accountant in Bankruptcy is the interim trustee, if—
a
no creditor entitled to vote in the election of the permanent trustee attends the statutory meeting; or
b
no permanent trustee is elected,
the Accountant in Bankruptcy shall forthwith report the proceedings at the statutory meeting to the sheriff and section 25A of this Act shall apply.
3B
Where a report is made in pursuance of subsection (3A) above, the Accountant in Bankruptcy may apply to the sheriff for the grant of a certificate for the summary administration of the sequestration of the debtor’s estate.
4
F2In any case where the Accountant in Bankruptcy is not the interim trustee,if no creditor entitled to vote in the election of the permanent trustee attends the statutory meeting or if no permanent trustee is elected, the interim trustee shall forthwith—
a
so notify the Accountant in Bankruptcy; and
b
report the proceedings at the statutory meeting to the sheriff, who shall thereupon appoint the interim trustee as the permanent trustee.
F24A
Where a report is made in pursuance of subsection (4) above, the interim trustee may apply to the sheriff for the grant of a certificate for the summary administration of the sequestration of the debtor’s estate.
5
Where subsection (4) above applies, the provisions of this Act shall have effect as regards the sequestration subject to such modifications, and with such further provisions, as are set out in Schedule 2 to this Act.