Bankruptcy (Scotland) Act 2016

Application for conversion to sequestration S

190 Application for conversion to sequestration S

(1) This section applies where a member State [F1 insolvency practitioner] proposes to apply to AiB for the conversion under [F2 Article 51 of the EU] insolvency proceedings regulation (conversion of [F3 secondary insolvency] proceedings) of a protected trust deed into sequestration.

(2) An affidavit complying with section 191 must be—

(a) prepared and sworn, and

(b) submitted to AiB in support of the application.

(3) The application and affidavit required under subsection (2) are to be served on—

(a) the debtor,

(b) the trustee, and

(c) such other person as may be prescribed.

Textual Amendments

F1 Words in s. 190(1) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(13)(a) (with reg. 9)

F2 Words in s. 190(1) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(13)(b) (with reg. 9)

F3 Words in s. 190(1) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(13)(c) (with reg. 9)

Commencement Information

I1 S. 190 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2

191 Contents of affidavit required under section 190(2) S

(1) An affidavit required under section 190(2) must—

(a) state that main proceedings have been opened in relation to the debtor in a member State other than the United Kingdom,

[F4 (b) state that the member State insolvency practitioner believes that the conversion of the protected trust deed into sequestration would be most appropriate as regards the interests of the local creditors and coherence between the main and secondary proceedings,]

(c) contain such other information as the member State [F5 insolvency practitioner] considers will be of assistance to AiB—

(i) in deciding whether to make an order under section 192, and

(ii) if AiB were to do so, in considering the need for any consequential provision that would be necessary or desirable, and

(d) contain such other matters as may be prescribed.

(2) Any affidavit under this section must be sworn by, or on behalf of, the member State [F6 insolvency practitioner] .

Textual Amendments

F4 S. 191(1)(b) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(14)(a) (with reg. 9)

F5 Words in s. 191(1)(c) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(14)(b) (with reg. 9)

F6 Words in s. 191(2) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(14)(b) (with reg. 9)

Commencement Information

I2 S. 191 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2

192 Powers of Accountant in Bankruptcy on application for conversion to sequestration S

(1) After considering an application for conversion of a protected trust deed into a sequestration, AiB may make such order as AiB thinks fit.

(2) If AiB makes an order for conversion into sequestration, the order may contain all such consequential provisions as AiB thinks necessary or desirable.

(3) The provisions of this Act apply to an order made by AiB under subsection (1) as if the order were a determination by AiB of a debtor application—

(a) under section 22(1), and

(b) in relation to which the member State [F7 insolvency practitioner] is a concurring creditor.

(4) On AiB making an order for conversion into sequestration under subsection (1), any expenses properly incurred as expenses of the administration of the trust deed in question become a first charge on the debtor's estate.

Textual Amendments

F7 Words in s. 192(3)(b) substituted (26.6.2017) by The Insolvency (Regulation (EU) 2015/848) (Miscellaneous Amendments) (Scotland) Regulations 2017 (S.S.I. 2017/210), regs. 1, 4(15) (with reg. 9)

Commencement Information

I3 S. 192 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2