Explanatory Notes

Bankruptcy and Debt Advice (Scotland) Act 2014

2014 asp 11

29 April 2014

Commentary on Sections

Discharge following sequestration

Section 20 – Unclaimed dividends and unapplied balances

43.This section amends section 57 (‘Discharge of trustee’) of the 1985 Act in order to simplify the process and specify that all unclaimed funds should paid to AiB who will then consign or otherwise manage the funds and return the funds to the public purse on expiry of the specified 7 year period as at present.