Bankruptcy and Diligence etc. (Scotland) Act 2007

177 Removal of money attached

(1) The judicial officer must attach and remove, from the place in which it is found, such money, the value of which in the opinion of the officer does not exceed a sum equal to the sum mentioned in subsection (2) below (in this Part, the “sum recoverable by the money attachment”).

(2) That sum is—

(a) the sum for the payment of which the charge was served, together with any interest accruing after such service and before the money attachment ceases to have effect; and

(b) all expenses which are chargeable against the debtor by virtue of the money attachment.

(3) Where cash in a currency other than sterling is attached, the judicial officer must, as soon as reasonably practicable after attaching it, convert that cash into sterling.

(4) The judicial officer must take all reasonable steps to obtain the highest amount for such cash as is practicable.

(5) The judicial officer must deposit any cash attached and any proceeds of converting cash in a currency other than sterling in a bank account.

(6) The judicial officer—

(a) need not attach any banking instruments other than cheques unless instructed to do so by the creditor; and

(b) is not liable to the creditor for any loss caused by the failure to attach any such instruments unless so instructed.

(7) The judicial officer must, subject to section 180(1) of this Act, value any instruments attached at the price which they are likely to fetch on the open market.

(8) Where any instruments are attached, the judicial officer must ensure that they are kept in a secure place.

(9) In this Part, any reference to money being attached includes a reference to it being removed under subsection (1) above.