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Judicial Factors (Scotland) Act 2025
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This version of this provision is prospective.
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There are currently no known outstanding effects for the Judicial Factors (Scotland) Act 2025, Section 31.
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Prospective
31Application for distribution of factory estateS
This section has no associated Explanatory Notes
(1)A person with an interest in the distribution of the factory estate (“the applicant”) may apply to the court for distribution in such manner as the court considers appropriate.
(2)Where an application is made under subsection (1), the applicant must intimate the application without delay to—
(a)the judicial factor (if the judicial factor is not the applicant),
(b)the Accountant, and
(c)any other person to whom the court directs that intimation should be made.
(3)The court may dispense with the requirement in subsection (2), in whole or in part, on cause shown.
(4)On an application being made under subsection (1), the court must give the opportunity to make representations in relation to the application to—
(a)the applicant,
(b)the judicial factor (if the judicial factor is not the applicant),
(c)the Accountant, and
(d)any other person who the court is satisfied has an interest in the application.
(5)After hearing any representations, the court may—
(a)instruct the judicial factor to distribute the estate in such manner as the court orders, or
(b)refuse the application.
(6)If the applicant is not the judicial factor, the court may not instruct the distribution of the factory estate unless—
(a)it is satisfied that—
(i)reasonable steps have been taken by the applicant to persuade the judicial factor to formulate and submit a scheme for the distribution of the factory estate to the Accountant for approval, and
(ii)the judicial factor has not formulated and submitted such a scheme and does not intend to do so, or
(b)it is satisfied that the judicial factor has previously submitted a scheme for the distribution of the factory estate to the Accountant for approval but that scheme has been rejected by the Accountant.
(7)If the applicant is the judicial factor, the court may not instruct the distribution of the factory estate unless it is satisfied that the judicial factor has previously submitted a scheme for the distribution of the factory estate to the Accountant for approval but that scheme has been rejected by the Accountant.
(8)The court must require the applicant to find caution for the expenses of the court proceedings unless—
(a)the applicant is the judicial factor, or
(b)where the applicant is not the judicial factor, it considers that, in all the circumstances, it would not be in the interests of justice to impose such a requirement.
Commencement Information
I1S. 31 not in force at Royal Assent, see s. 54(2)
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