In paragraph 3 of Schedule 1 to the 1985 Act (debts depending on contingency)—
(a)in sub-paragraph (2), for “sheriff”, in both places where it occurs, substitute “ Accountant in Bankruptcy ”, and
(b)for sub-paragraph (3), substitute—
“(3)An interested person may apply to the Accountant in Bankruptcy for a review of a valuation under sub-paragraph (2) by the trustee.
(4)An application under sub-paragraph (3) must be made before the expiry of the period of 14 days beginning with the day of the valuation.
(5)If an application under subsection (3) is made, the Accountant in Bankruptcy must—
(a)take into account any representations made by an interested person before the expiry of the period of 21 days beginning with the day on which the application is made, and
(b)confirm or vary the valuation before the expiry of the period of 28 days beginning with the day on which the application is made.
(6)An interested person may appeal to the sheriff against a decision by the Accountant in Bankruptcy under subsection (5)(b) before the expiry of the period of 14 days beginning with the day of the decision.
(7)The Accountant in Bankruptcy may refer a case to the sheriff for a direction before making a decision under sub-paragraph (5)(b).
(8)An appeal to the sheriff under sub-paragraph (6) may not be made in relation to a matter on which the Accountant in Bankruptcy has applied to the sheriff for a direction under sub-paragraph (7).”.
Commencement Information
I1S. 37 in force at 1.4.2015 by S.S.I. 2014/261, art. 3 (with arts. 4-7, 12) (as amended by S.S.I. 2015/54, art. 2)