(1)An application for the sequestration of a living debtor’s estate may not be made unless the debtor has obtained from a money adviser—
(a)advice on the debtor’s financial circumstances,
(b)advice on the effect of the proposed sequestration of the debtor’s estate,
(c)advice on the preparation of the application, and
(d)advice on such other matters as may be prescribed.
(2)In this Act, “money adviser” means a person who—
(a)is not an associate of the debtor, and
(b)is of a prescribed description or falls within a prescribed class.]
Textual Amendments
F1S. 5C inserted (30.6.2014 for specified purposes, 1.4.2015 in so far as not already in force) by Bankruptcy and Debt Advice (Scotland) Act 2014 (asp 11), ss. 1(2), 57(2); S.S.I. 2014/172, art. 2, sch.; S.S.I. 2014/261, art. 3 (with arts. 4-7, 12) (as amended by S.S.I. 2015/54, art. 2)