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Bankruptcy and Diligence etc. (Scotland) Act 2007

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Status:

Point in time view as at 06/04/2011. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Bankruptcy and Diligence etc. (Scotland) Act 2007, Section 13. Help about Changes to Legislation

13Requirement to hold money in interest bearing accountS

This section has no associated Explanatory Notes

In section 43 of the 1985 Act (money received by permanent trustee) —

(a)in subsection (1)—

(i)for “subsection (2)” substitute “ subsections (1A) and (2) ”; and

(ii)after “an” insert “ interest-bearing account in an ”; and

(b)after subsection (1), insert—

(1A)In any case where the Accountant in Bankruptcy is the trustee, subject to subsection (2) below, all money received by the Accountant in Bankruptcy in the exercise of his functions as trustee shall be deposited by him in an interest bearing account in the name of the debtor's estate or in the name of the Scottish Ministers in an appropriate bank or institution..

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