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Scottish Statutory Instruments

2014 No. 225

Insolvency

Bankruptcy

The Bankruptcy (Scotland) Regulations 2014

Made

20th August 2014

Laid before the Scottish Parliament

21st August 2014

Coming into force

1st April 2015

The Scottish Ministers make the following Regulations in exercise of the powers conferred by sections 1A(1)(b) and (5), 2(8), 5(2ZA)(a)(ii), (2D) and (6A), 6(7), 7(1)(d), 11(1), 19(2), 22(2)(a) and (6), 23(1)(a), 32(9A), 40(3B), 43A(2), 43B(1), 45(3)(a), 49(3), 51(7)(a), 54(2), 54A(2), 54C(2), 54D(2)(a) and (c), 54E(2) and (5), 69, 71C, 72(1A) and 73(1) of and paragraphs 5(1) and 6 of Schedule 3 to the Bankruptcy (Scotland) Act 1985(1) and all other powers enabling them to do so.

Citation and commencementS

1.  These Regulations may be cited as the Bankruptcy (Scotland) Regulations 2014 and come into force on 1st April 2015.

Commencement Information

I1Reg. 1 in force at 1.4.2015, see reg. 1

InterpretationS

2.—(1) In these Regulations, “the 1985 Act” means the Bankruptcy (Scotland) Act 1985.

F1(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Commencement Information

I2Reg. 2 in force at 1.4.2015, see reg. 1

FormsS

FormsS

F23.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Register of InsolvenciesS

Register of InsolvenciesS

F24.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Sequestration ProcessS

Debtor applicationsS

F25.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Sequestration where debtor has few assets (“Minimal Asset Process”): prescribed paymentsS

F26.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Debt advice and information packageS

F27.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Application of the 1985 Act to limited partnershipsS

F28.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Apparent Insolvency/Creditor Debt ThresholdS

F29.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Claims in foreign currencyS

F210.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Conversion of foreign currency claimsS

F211.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Trustee resignation applicationS

F212.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Abandonment of heritable property by trusteeS

F213.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Debtor contribution ordersS

F214.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Notice by trustee of proceedings to obtain authority in relation to debtor’s family homeS

F215.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Debtor’s requirement to give account of state of affairsS

F216.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Financial educationS

F217.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Interest on claims in sequestrationS

F218.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Certificate of deferralS

F219.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Premium of bond of cautionS

F220.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Preference for remuneration of employees, etc.S

21.  The prescribed amount for the purposes of paragraphs 5(1) and 6 of Schedule 3 to the 1985 Act (the maximum amount which can be claimed as a preferred debt by an employee by way of remuneration or by a person under the Reserve Forces (Safeguard of Employment) Act 1985(2)) is £800(3).

Commencement Information

I3Reg. 21 in force at 1.4.2015, see reg. 1

Moratorium on diligenceS

Moratorium on diligence: notice of intention to applyS

F322.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Revocations and sequestration before 1st April 2015S

RevocationsS

F323.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Sequestration before 1st April 2015S

F324.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

[F4Trust deed granted before 1st April 2015S

25.  These Regulations, except regulation 22 and Forms 29 and 30, have no effect as regards any trust deed granted before 1st April 2015.]

Textual Amendments

FERGUS EWING

Authorised to sign by the Scottish Ministers

St Andrew’s House,

Edinburgh

20th August 2014

Regulation 3

F5SCHEDULE 1SFORMS

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Regulation 4

F6SCHEDULE 2SREGISTER OF INSOLVENCIES

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations re-enact, with modifications, the Bankruptcy (Scotland) Regulations 2008 (S.S.I. 2008/82) except for regulation 8 of those Regulations. They make provision following amendments to the Bankruptcy (Scotland) Act 1985 (“the 1985 Act”) by the Bankruptcy and Debt Advice (Scotland) Act 2014 (“the 2014 Act”).

Subject to regulation 24 (sequestration before 1st April 2015), these Regulations come into force on 1st April 2015.

Regulation 3 and Schedule 1 provide for the main forms to be used in relation to sequestration.

Regulation 4 makes provision about the register of insolvencies which it is the function of the Accountant in Bankruptcy to maintain (section 1A(1)(b) of the 1985 Act refers).

Regulation 5 makes provision in relation to debtor applications (an application made by a debtor to the Accountant in Bankruptcy for an award of sequestration under the 1985 Act).

Regulation 6 provides for “prescribed payments” of social security benefits as part for the criteria for eligibility for the Minimal Asset Process (“MAP”) where the debtor has few assets under section 5(2ZA) of the 1985 Act.

Regulation 7 makes provision in relation to the requirement in section 5(2D) of the 1985 Act for a debtor to be provided with a debt advice and information package prior to presentation of a petition for sequestration by a qualified creditor or qualified creditors of the debtor.

Regulation 8 makes modifications of the 1985 Act in its application to limited partnerships.

Regulation 9 prescribes £1,500 as the amount of debt a creditor must be owed to establish ‘apparent insolvency’ by an expired statutory demand for payment of debt in terms of section 7(1)(d) of the 1985 Act.

Regulation 10 prescribes the circumstances in which a creditor may state the amount of the creditor’s claim in foreign currency for voting purposes at a statutory meeting and submission of claims to a trustee under sections 22 and 48 of the 1985 Act respectively.

Regulation 11 prescribes the manner in which the trustee is required to convert a creditor’s claim made in foreign currency for the purposes of proceedings at a statutory meeting and the adjudication of creditors’ claims under sections 23 and 49 of the 1985 Act respectively.

Regulation 12 provides for the form of application to be completed by the trustee where the trustee seeks authority to resign office under section 28 of the 1985 Act.

Regulation 13 provides for the form of notice to be given to the debtor under section 32(9A) of the 1985 Act where the trustee has abandoned to the debtor any heritable property included in the debtor’s sequestrated estate.

Regulation 14 makes provision for form of debtor contribution orders under section 32A(1)(a) and (b) of the 1985 Act, added by the 2014 Act to replace income payment orders under section 32(2) of the 1985 Act.

Regulation 15 provides for the form of notice to be given to the local authority by the trustee or a trustee under a trust deed before proceedings are commenced for authority to sell or dispose of any right or interest in the debtor’s family home under section 40 of the 1985 Act.

Regulation 16 provides for the form of a debtor’s current state of affairs to be given under section 43A of the 1985 Act.

Regulation 17 provides for the courses of financial education which a debtor may be required to undertake by the trustee under section 43B(1) of the 1985 Act.

Regulation 18 prescribes 8% per annum as the rate of interest to be paid on the preferred debts and the ordinary debts between the date of sequestration and the date of payment of the debt for the purposes of section 51 of the 1985 Act (order of priority in distribution of the debtor’s estate).

Regulation 19 provides for the form of certificate under section 54D(4)(b) or (6)(b) deferring indefinitely the discharge of the debtor.

Regulation 20 provides that the premium of any bond of caution or other security given by an insolvency practitioner in relation to acting as interim trustee or trustee may be taken into account as part of the insolvency practitioner’s outlays in the sequestration.

Regulation 21 restates the prescription of £800 as the maximum amount which may be claimed as a preferred debt by an employee by way of remuneration or by a person under the Reserve Forces (Safeguard of Employment) Act 1985 (paragraphs 5 and 6 of Schedule 3 to the 1985 Act refer). In restating the law on reserved matters by virtue of paragraph 7 of Schedule 4 to the Scotland Act 1998 (c.46) the law as restated remains reserved law.

Regulation 22 provides for forms of notice to be given by a person for the purposes of sections 4A and 4B of the 1985 Act to trigger the moratorium on diligence having effect under sections 4C and 4D of the 1985 Act.

Regulation 23 revokes the relevant parts of S.S.I. 2008/82 and amending instruments, subject to regulation 24. These Regulations do not except as provided for in regulation 24 apply to sequestrations where the creditor petition for sequestration was presented before 1st April 2015 or the debtor application for sequestration was received by the Accountant in Bankruptcy before that date.

A Business and Regulatory Impact Assessment has been prepared for these Regulations. Copies can be obtained from the Accountant in Bankruptcy’s website: http://www.aib.gov.uk.

(1)

1985 c.66. Sections 1, 1A, 1B, 1C and 1D were substituted for section 1 by the Bankruptcy (Scotland) Act 1993 (c.6) (“the 1993 Act”), section 1. Section 1A(1)(b) was amended by the Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3) (“the 2007 Act”), schedule 6, the Bankruptcy and Debt Advice (Scotland) Act 2014 (asp 11) (“the 2014 Act”), section 22 and schedule 3, paragraph 3 and by S.I. 1999/1820. Section 1A(5) was inserted by the 2014 Act, section 22. Section 2(8) was inserted by the 2014 Act, section 9. Section 5(2ZA) was inserted by the 2014 Act, section 5. Section 5(2D) was inserted by the 2007 Act, section 26. Section 5(6A) was substituted by the 2007 Act, schedule 1, paragraph 4 and is applied for the purposes of section 6 by section 6(8) which was amended by the 2007 Act, section 14 and the 2014 Act, schedule 3, paragraph 6. Section 7(1) was amended by the Criminal Justice (Scotland) Act 1987 (c.41), section 45, the Criminal Justice Act 1988 (c.33), Schedule 15, paragraph 108, the Drug Trafficking Act 1994 (c.37), Schedule 1, paragraph 10 and Schedule 3, the Proceeds of Crime Act 2002 (c.29), Schedule 11, paragraph 15, the 2007 Act, schedule 6, the 2014 Act, schedule 3, paragraph 7 and by S.I. 2003/2109 and S.S.I. 2011/141. Section 11(1) was amended by the 2007 Act, schedule 1, paragraph 9. Section 19 was substituted by the 1993 Act, Schedule 1, paragraph 7 and section 19(2) was amended by the 2007 Act, schedule 1, paragraph 17 and schedule 6. Section 22(2) was amended by the 2007 Act, schedule 6. Section 22(2)(a) is applied, with modifications, for the purposes of section 48 by section 48(3) which was amended by the 2007 Act, schedule 6. Section 22(6) is applied, with modifications, for the purposes of section 48 by section 48(7) which was amended by the 2007 Act, schedule 6 and the 2014 Act, schedule 3, paragraph 24. Section 23(1) was amended by the 2007 Act, schedule 6. Section 32(9A) was inserted by the 2007 Act, section 19. Section 40(3B) was inserted by the Home Owner and Debtor Protection (Scotland) Act 2010 (asp 6) (“the 2010 Act”), section 11. Section 43A was inserted by the 2007 Act, section 30 and was amended by the 2014 Act, schedule 3, paragraph 22. Section 43B was inserted by the 2014 Act, section 2. Section 45(3) was amended by the 2007 Act, schedule 6 and the 2014 Act, section 24. Section 49(3) was amended by the 2007 Act, schedule 6. Sections 54 and 54A were substituted for section 54 by the 2014 Act, section 17. Section 54C was inserted by the 2014 Act, section 7. Sections 54D and 54E were inserted by the 2014 Act, section 19. Section 69 was amended by the 2007 Act, schedule 1, paragraph 58 and schedule 6. Section 71C was inserted by the 2014 Act, section 36. Section 72(1A) was inserted by the 2014 Act, schedule 3, paragraph 34(a). The definition of “statement of assets and liabilities” was inserted into section 73(1) by the 1993 Act, Schedule 1, paragraph 29. Section 73(1) contains a definition of “prescribed” relevant to the exercise of the statutory powers under which these Regulations are made. The functions of the Secretary of State so far as exercisable within devolved competence were transferred to the Scottish Ministers by section 53 of the Scotland Act 1998 (c.46).

(3)

This regulation re-enacts regulation 10 of the 2008 Regulations.

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