The Bankruptcy Fees (Scotland) Regulations 2018

Explanatory Note

(This note is not part of the Regulations)

These Regulations prescribe the fees and outlays payable to the Accountant in Bankruptcy (“AiB”) in respect of the exercise of that office's functions under the Bankruptcy (Scotland) Act 2016 (“the 2016 Act”). They also prescribe when and in what manner certain bankruptcy fees and outlays are due for payment.

The Regulations revoke and replace the Bankruptcy Fees (Scotland) Regulations 2014 (“the 2014 Regulations”), subject to a saving for petitions and applications for sequestration lodged or trust deeds for the benefit of creditors granted before 1st June 2018. They are made following the 2016 Act consolidation and a review of fee rates.

Provision for fees and outlays payable to AiB and when and in what manner continue by virtue of the 2014 Regulations and sections 234(3) and 235(1), (2) and (4) of the 2016 Act.

The fees payable under the 2014 Regulations are shown in column 3 of the Table of Fees in the schedule of these Regulations (“table of fees”); where there is no change this is expressly stated. In some cases, the fees may be met as expenses in the distribution of the estate of the debtor (see section 129 of the 2016 Act).

The fees set by Part 1 of the table of fees relate to the exercise of AiB's functions of acting as interim trustee and trustee in sequestration (regulations 3 to 5). The fees set by Part 2 of the table of fees relate to other functions of AiB (regulations 6 to 11).

The 2014 Regulations would have been replaced in 2017 by S.S.I. 2017/37 but that instrument was revoked before it had effect (by S.S.I. 2017/97).

A Business and Regulatory Impact Assessment has been prepared for these Regulations and can be obtained from the Accountant in Bankruptcy, 1 Pennyburn Road, Kilwinning.