PART 14

Voluntary trust deeds for creditors

Application for conversion to sequestration

Powers of Accountant in Bankruptcy on application for conversion to sequestration
192
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 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.
S. 192 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2
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)