PART 2

Sequestration: award and recall

Award of sequestration

Circumstances in which sequestration is not to be awarded in pursuance of section 22(5)
23
1
Sequestration must not be awarded in pursuance of section 22(5) if—
a
cause is shown why sequestration cannot competently be awarded,
b
the debtor forthwith pays or satisfies, or produces written evidence of the payment or satisfaction of—
i
the debt in respect of which the debtor became apparently insolvent, and
ii
any other debt due by the debtor to the petitioner and to any creditor concurring in the petition.
2
Where the sheriff is satisfied that the debtor will, within 42 days beginning with the day the debtor appears before the sheriff, pay or satisfy the debts mentioned in sub-paragraphs (i) and (ii) of subsection (1)(b), the sheriff may continue the petition for no more than 42 days.
3
The sheriff may continue the petition for such period as the sheriff thinks fit if satisfied—
a
that a debt payment programme, under Part 1 of the 2002 Act, relating to the debts mentioned in sub-paragraphs (i) and (ii) of subsection (1)(b) has been applied for and has not yet been approved or rejected, or
b
that such a debt payment programme will be applied for.
S. 23 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2