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Judicial Factors (Scotland) Act 2025
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This version of this schedule contains provisions that are prospective.
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There are currently no known outstanding effects for the Judicial Factors (Scotland) Act 2025, Schedule 1.
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Prospective
Schedule 1SStandard powers
(introduced by section 13(7))
This schedule has no associated Explanatory Notes
1STo take possession of, collect and ingather the property of the factory estate.
Commencement Information
I1Sch. 1 para. 1 not in force at Royal Assent, see s. 54(2)
2SOn behalf of the factory estate—
(a)to bring or defend any action,
(b)to make any application to the court, or
(c)to engage in any other legal proceedings.
Commencement Information
I2Sch. 1 para. 2 not in force at Royal Assent, see s. 54(2)
3STo carry out works.
Commencement Information
I3Sch. 1 para. 3 not in force at Royal Assent, see s. 54(2)
4STo grant any deed necessary for carrying into effect a function vested in the judicial factor.
Commencement Information
I4Sch. 1 para. 4 not in force at Royal Assent, see s. 54(2)
5STo carry on—
(a)the business (if any) of the factory estate, or
(b)any part of that business.
Commencement Information
I5Sch. 1 para. 5 not in force at Royal Assent, see s. 54(2)
6STo enter into, or take over, a contract.
Commencement Information
I6Sch. 1 para. 6 not in force at Royal Assent, see s. 54(2)
7STo pay a debt due by the estate without requiring the creditor to constitute the debt, provided that the judicial factor is satisfied that the debt is a proper debt of the factory estate.
Commencement Information
I7Sch. 1 para. 7 not in force at Royal Assent, see s. 54(2)
8STo employ, or dismiss from employment, any person.
Commencement Information
I8Sch. 1 para. 8 not in force at Royal Assent, see s. 54(2)
9STo appoint an agent to carry out business which the judicial factor does not have the competence to carry out.
Commencement Information
I9Sch. 1 para. 9 not in force at Royal Assent, see s. 54(2)
10STo remunerate any person appointed under paragraph 9.
Commencement Information
I10Sch. 1 para. 10 not in force at Royal Assent, see s. 54(2)
11STo sell the factory estate, or any part of the factory estate.
Commencement Information
I11Sch. 1 para. 11 not in force at Royal Assent, see s. 54(2)
12STo grant, vary, or accept the surrender of a lease or tenancy of any duration of the heritable factory estate or of any part of the heritable factory estate.
Commencement Information
I12Sch. 1 para. 12 not in force at Royal Assent, see s. 54(2)
13STo remove a tenant.
Commencement Information
I13Sch. 1 para. 13 not in force at Royal Assent, see s. 54(2)
14STo take a lease or tenancy of any duration of any property if it is a lease or tenancy required for the business of the factory estate.
Commencement Information
I14Sch. 1 para. 14 not in force at Royal Assent, see s. 54(2)
15STo make any kind of investment of the factory estate, including an investment in heritable property.
Commencement Information
I15Sch. 1 para. 15 not in force at Royal Assent, see s. 54(2)
16STo appoint a person as the judicial factor’s nominee, to exercise the judicial factor’s function of investment under paragraph 15.
Commencement Information
I16Sch. 1 para. 16 not in force at Royal Assent, see s. 54(2)
17STo authorise an agent to exercise any of the judicial factor’s investment management functions at the agent’s discretion.
Commencement Information
I17Sch. 1 para. 17 not in force at Royal Assent, see s. 54(2)
18STo exchange any part of the heritable factory estate for heritable estate of a like, or greater, value.
Commencement Information
I18Sch. 1 para. 18 not in force at Royal Assent, see s. 54(2)
19STo acquire property (whether heritable or moveable).
Commencement Information
I19Sch. 1 para. 19 not in force at Royal Assent, see s. 54(2)
20STo borrow money on the security of the factory estate or of any part of the factory estate.
Commencement Information
I20Sch. 1 para. 20 not in force at Royal Assent, see s. 54(2)
21SOn behalf of the factory estate, to draw, accept, make or endorse any bill of exchange or promissory note.
Commencement Information
I21Sch. 1 para. 21 not in force at Royal Assent, see s. 54(2)
22STo refer to arbitration a question affecting the factory estate.
Commencement Information
I22Sch. 1 para. 22 not in force at Royal Assent, see s. 54(2)
23STo formulate and propose a scheme for division of the factory estate.
Commencement Information
I23Sch. 1 para. 23 not in force at Royal Assent, see s. 54(2)
24STo apply to the court for—
(a)authority to act at variance with the purposes of the judicial factory,
(b)a variation of the judicial factor’s functions.
Commencement Information
I24Sch. 1 para. 24 not in force at Royal Assent, see s. 54(2)
25SIn respect of any securities of a company which are comprised in the factory estate, to concur, as if the judicial factor was entitled to the securities beneficially, in any scheme or arrangement for—
(a)the reconstruction of the company,
(b)the sale of the property and undertaking of the company, or any part of that property and undertaking, to another company,
(c)the acquisition of the securities of the company, or of control of those securities, by another company,
(d)the amalgamation of the company with another company, or
(e)the release, modification or variation of any rights, privileges or liabilities attached to the securities or any of the securities.
Commencement Information
I25Sch. 1 para. 25 not in force at Royal Assent, see s. 54(2)
26STo accept any securities of the reconstructed, purchasing or new company in lieu of, or in exchange for, all or any of the original securities.
Commencement Information
I26Sch. 1 para. 26 not in force at Royal Assent, see s. 54(2)
27STo retain any such securities for any period which the judicial factor could properly have retained the original securities.
Commencement Information
I27Sch. 1 para. 27 not in force at Royal Assent, see s. 54(2)
28STo such extent as the judicial factor considers appropriate—
(a)to exercise any conditional or preferential right to subscribe for any securities in a company,
(b)to apply capital of the factory estate in payment of the consideration for such subscription,
(c)to retain the securities for any period for which the judicial factor has power to retain the holding in respect of which the right to subscribe was offered (but subject to any conditions subject to which the judicial factor has that power),
(d)to renounce any such conditional or preferential right, or
(e)to assign to any person (including any person with an interest in the factory estate), for the best consideration that reasonably can be obtained the benefit of, or title to, any such conditional or preferential right.
Commencement Information
I28Sch. 1 para. 28 not in force at Royal Assent, see s. 54(2)
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