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A judicial factor stands in place of the factory estate in any dealings with a third party and accordingly the judicial factor, in the judicial factor’s capacity as such—
(a)is liable for any debt or obligation of the estate to the third party,
(b)is entitled to—
(i)receive any amount due to the estate by the third party,
(ii)enforce any obligation due to the estate by the third party.
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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
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