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Bankruptcy (Scotland) Act 1985 (repealed)
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Changes over time for: Section 5D
Version Superseded: 30/11/2016
Alternative versions:
- 30/06/2014- Amendment
- 01/01/2015
Point in time - 30/11/2016- Amendment
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Bankruptcy (Scotland) Act 1985 (repealed), Section 5D is up to date with all changes known to be in force on or before 23 May 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[F15DAssessment of debtor’s contributionU.K.
(1)The Scottish Ministers may by regulations specify a method (the “common financial tool”) to be used to assess an appropriate amount of a living debtor’s income to be paid to a trustee after the sequestration of the debtor’s estate (the “debtor’s contribution”).
(2)Regulations under subsection (1) may in particular—
(a)prescribe a method for assessing a debtor’s financial circumstances (including the debtor’s assets, income, liabilities and expenditure),
(b)prescribe a method for determining a reasonable amount of expenditure for a debtor after the sequestration of the debtor’s estate,
(c)prescribe the proportion of a debtor’s income that is to constitute the debtor’s contribution,
(d)prescribe that a method determined by another person is to be used (with or without modification in accordance with regulations made under subsection (1)) as the common financial tool.
(3)The common financial tool must ensure that the amount of reasonable expenditure for a debtor is not less than the total amount of any income received by the debtor by way of guaranteed minimum pension (within the meaning of the Pension Schemes Act 1993 (c.48)).
(4)The common financial tool must ensure that an amount is allowed for—
(a)aliment for the debtor,
(b)the debtor’s relevant obligations.
(5)The “debtor’s relevant obligations” are—
(a)any obligation of aliment owed by the debtor (“obligation of aliment” having the same meaning as in the Family Law (Scotland) Act 1985 (c.37)),
(b)any obligation of the debtor to make a periodical allowance to a former spouse or former civil partner, and
(c)any obligation of the debtor to pay child support maintenance under the Child Support Act 1991 (c.48).
(6)The amount allowed for the debtor’s relevant obligations referred to in paragraphs (a) and (b) of subsection (5) need not be sufficient for compliance with a subsisting order or agreement as regards the aliment or periodical allowance.]
Textual Amendments
F1S. 5D inserted (30.6.2014) by Bankruptcy and Debt Advice (Scotland) Act 2014 (asp 11), ss. 3(1), 57(2); S.S.I. 2014/172, art. 2, sch.
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