8(1)Where the estate of a person is sequestrated—
(a)property for the time being subject to a freezing order made before the date of sequestration (within the meaning of section [F1 22(7) of the 2016 ] Act); and
(b)any proceeds of property realised by virtue of paragraph 5(2) above for the time being in the hands of a receiver appointed under that paragraph,
is excluded from the debtor’s estate for the purposes of that Act.
(2)Where an award of sequestration is made before a freezing order is made, the powers conferred on a receiver appointed under paragraph 5(2) above shall not be exercised in relation to—
(a)property for the time being comprised in the whole estate of the debtor (within the meaning of section [F279(1) of the 2016] Act);
(b)any income of the debtor which has been ordered under section [F390 ] of that Act to be paid to the permanent trustee; or
(c)any estate which under section [F479(4) or 86(5) of that Act vests in the trustee in the sequestration];
and it shall not be competent to submit a claim in relation to the freezing order to the interim trustee in accordance with section [F546 of that Act or the trustee in the sequestration in accordance with section 122] of that Act.
(3)Nothing in the [F62016 ] Act shall be taken as restricting, or enabling the restriction of, the exercise of the powers conferred on a receiver so appointed.
(4)Where, during the period before sequestration is awarded, an interim trustee stands appointed under section [F754(1) of the 2016 ] Act and any property in the debtor’s estate is subject to a freezing order, the powers conferred on the interim trustee by virtue of that Act do not apply to property for the time being subject to the freezing order.
F8(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in sch. 6 para. 8(1)(a) substituted (30.11.2016) by Bankruptcy (Scotland) Act 2016 (asp 21), s. 237(2), sch. 8 para. 17(2)(a) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2
F2Words in sch. 6 para. 8(2)(a) substituted (30.11.2016) by Bankruptcy (Scotland) Act 2016 (asp 21), s. 237(2), sch. 8 para. 17(2)(c) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2
F3Word in sch. 6 para. 8(2)(b) substituted (30.11.2016) by Bankruptcy (Scotland) Act 2016 (asp 21), s. 237(2), sch. 8 para. 17(2)(d) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2
F4Words in sch. 6 para. 8(2)(c) substituted (30.11.2016) by Bankruptcy (Scotland) Act 2016 (asp 21), s. 237(2), sch. 8 para. 17(2)(e) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2
F5Words in sch. 6 para. 8(2) substituted (30.11.2016) by Bankruptcy (Scotland) Act 2016 (asp 21), s. 237(2), sch. 8 para. 17(2)(b) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2
F6Word in sch. 6 para. 8(3) substituted (30.11.2016) by Bankruptcy (Scotland) Act 2016 (asp 21), s. 237(2), sch. 8 para. 17(2)(f) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2
F7Words in sch. 6 para. 8(4) substituted (30.11.2016) by Bankruptcy (Scotland) Act 2016 (asp 21), s. 237(2), sch. 8 para. 17(2)(g) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2
F8Sch. 6 para. 8(5) omitted (30.11.2016) by virtue of Bankruptcy (Scotland) Act 2016 (asp 21), s. 237(2), sch. 8 para. 17(2)(h) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2