Part 8Attachment of money

Money attachment

174Money attachment

(1)

There is to be a form of diligence over money owned by a debtor to be known as money attachment.

(2)

Money attachment is competent to enforce payment of a debt but only if—

(a)

the debt is constituted by a decree or document of debt;

(b)

the debtor has been charged to pay the debt;

(c)

the period for payment specified in the charge has expired without payment being made; and

(d)

where the debtor is an individual, the creditor has, no earlier than 12 weeks before executing the money attachment, provided the debtor with a debt advice and information package.

(3)

Money attachment is not competent in relation to money—

(a)

kept within a dwellinghouse; or

(b)

in relation to which arrestment is competent.