(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 [F1insolvency 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
F1Words 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
I1S. 192 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2