Bankruptcy and Debt Advice (Scotland) Act 2014

1. Introduction

2. The Act

   1. Overview

3. Commentary on Sections

   1. Advice and education

      1. Section 1 – Sequestration of estate of living debtor: money advice

      2. Section 2 – Financial education for debtor

   2. Payments by debtor following sequestration

      1. Section 3 – Debtor’s contribution: common financial tool

      2. Section 4 – Debtor contribution order

   3. Sequestration where debtor has few assets

      1. Section 5 – Debtor application

      2. Section 6 – Circumstances where Accountant in Bankruptcy appointed as trustee

      3. Section 7 – Discharge, conditions etc.

   4. Moratorium on diligence

      1. Section 8 – Moratorium on diligence

   5. Application for sequestration

      1. Section 9 – Statement of undertakings

      2. Section 10 – Debtor application: incomplete or inappropriate application

      3. Section 11 – Sequestration: application by executor

      4. Section 12 – Concurrent proceedings for sequestration: recall

      5. Section 13 – Debtor’s bank account

   6. Administration of estate

      1. Section 14 – Submission of claims to trustee

      2. Section 15– First accounting period

      3. Section 16 – Vesting of estate after sequestration

   7. Discharge following sequestration

      1. Section 17 – Discharge of debtor

      2. Section 18 – Repeal of discharge on composition

      3. Section 19 – Deferral of discharge where debtor cannot be traced

      4. Section 20 – Unclaimed dividends and unapplied balances

      5. Section 21 – Assets discovered after trustee discharge: appointment of trustee

   8. Records

      1. Section 22 – Register of insolvencies

      2. Section 23 – Sederunt book

      3. Section 24 – Abolition of certain requirements in relation to Edinburgh Gazette

   9. Functions of sheriff and Accountant in Bankruptcy in sequestration

      1. Section 25 – Application by trustee for direction on matters in sequestration

      2. Section 26 – Recall of sequestration by sheriff

      3. Section 27 – Recall of sequestration by Accountant in Bankruptcy

      4. Section 28 – Appointment of replacement trustee

      5. Section 29 – Replacement of trustee acting in more than one sequestration

      6. Section 30 – Removal of trustee and trustee not acting

      7. Section 31 – Removal of commissioner

      8. Section 32 – Contractual powers of trustee

      9. Section 33 – Bankruptcy restrictions order

      10. Section 34 – Conversion of a protected trust deed into sequestration

      11. Section 35 – Power to cure defects in procedure

      12. Section 36 – Regulations: applications to Accountant in Bankruptcy etc.

      13. Section 37 – Valuation of debts depending on contingency

   10. Review of decisions made by Accountant in Bankruptcy

       1. Section 38 – Review of decisions about interim trustee

       2. Section 39 – Review of decision not to award sequestration

       3. Section 40 – Review of decisions about replacement trustee

       4. Section 41 – Review of decisions about adjudication of creditor’s claims

       5. Section 42 – Review of decision about discharge of trustee

       6. Section 43 – Appeals against decisions on review

   11. Miscellaneous amendments

       1. Debt arrangement schemes: extension to non-natural persons and fees

   12. General

       1. Section 55 – Ancillary provision

       2. Section 57 – Commencement

   13. Schedules

       1. Schedule 1 (‘minimal asset’ debtors with few assets)

       2. Schedule 2 (Sederunt book)

       3. Schedule 3 (minor and consequential amendments)

       4. Schedule 4 (repeals)

          1. Miscellaneous subordinate legislation connected to implementation of the Act

4. Parliamentary History