Explanatory Note
(This note is not part of the Regulations)
These Regulations amend the Debtors (Scotland) Act 1987 (“the Act”) so as to–
(a)increase from £10,000 to £25,000 the amount of money prescribed in section 1(5)(a) of the Act, which is the limit to which it is competent for a court to make a time to pay direction (regulation 2);
(b)increase from £10,000 to £25,000 the amount of money prescribed in section 5(4)(a) of the Act, which is the limit to which it is competent for a sheriff to make a time to pay order (regulation 2);
(c)increase from £500 to £1,000 the aggregate values of articles exempt from poinding in terms of section 16(1)(b) and (d) of and paragraph 1(1)(b) and (d) of Schedule 5 to the Act (regulation 3(1));
(d)add to the list of articles in section 16(2) of and paragraph 1(2) of Schedule 5 to the Act that shall be exempt for poinding in terms of those provisions (regulation 3(2)).