(1)Subject to subsection (2) below, the estate belonging to or held for or jointly by the members of any of the following entities may be sequestrated—
(a)a trust in respect of debts incurred by it;
(b)a partnership, including a dissolved partnership;
(c)a body corporate or an unincorporated body;
(d)a limited partnership (including a dissolved partnership) within the meaning of the M1Limited Partnerships Act 1907.
(2)It shall not be competent to sequestrate the estate of any of the following entities—
[F1(a)a company registered under the Companies Act 2006; or]
(b)an entity in respect of which an enactment provides, expressly or by implication, that sequestration is incompetent.
(3)The sequestration of a trust estate in respect of debts incurred by the trust shall be
[F2(a)by debtor application made by a majority of trustees, with the concurrence of a qualified creditor or qualified creditors; or
(b)on the petition of—
(i)a temporary administrator;
(ii)a member State liquidator appointed in main proceedings; or
(iii)a qualified creditor or qualified creditors, if the trustees as such are apparently insolvent.]
(4)The sequestration of the estate of a partnership shall be
[F3(a)by debtor application made by the partnership with the concurrence of a qualified creditor or qualified creditors; or
(b)on the petition of—
(i)a temporary administrator;
(ii)a member State liquidator appointed in main proceedings;
(iii)a trustee acting under a trust deed; or
(iv)a qualified creditor or qualified creditors, if the partnership is apparently insolvent.]
(5)A petition under [F4[F5subsection (4)(b)]] above may be combined with a petition for the sequestration of the estate of any of the partners as an individual where that individual is apparently insolvent.
(6)The sequestration of the estate of a body corporate or of an unincorporated body shall be
[F6(a)by debtor application made by a person authorised to act on behalf of the body, with the concurrence of a qualified creditor or qualified creditors; or
(b)on the petition of—
(i)a temporary administrator;
(ii)a member State liquidator appointed in main proceedings; or
(iii)a qualified creditor or qualified creditors, if the body is apparently insolvent.]
(7)The application of this Act to the sequestration of the estate of a limited partnership shall be subject to such modifications as may be prescribed.
(8)Subsections (6) [F7, (6A), (8) and (8A)] of section 5 of this Act shall apply for the purposes of this section as they apply for the purposes of that section.
Textual Amendments
F1S. 6(2)(a) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), arts. 1(2), 2(1), Sch. 1 para. 60 (with art. 10).
F2S. 6(3)(a)(b) substituted (1.4.2008) for words in s. 6(3) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 14(4)(a), 227(3) (with s. 223); S.S.I. 2008/115, art. 3(1)(a) (with arts. 4-6, 10 (as amended (with effect from 31.1.2011) by S.S.I. 2011/31, art. 5))
F3S. 6(4)(a)(b) substituted (1.4.2008) for words in s. 6(4) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 14(4)(b), 227(3) (with s. 223); S.S.I. 2008/115, art. 3(1)(a) (with arts. 4-6, 10 (as amended (with effect from 31.1.2011) by S.S.I. 2011/31, art. 5))
F4Words in s. 6(5) substituted (8.9.2003) by The Insolvency (Scotland) Regulations 2003 (S.I. 2003/2109), reg. 6(2)
F5Words in s. 6(5) substituted (1.4.2008) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 36, 227(3), Sch. 1 para. 5 (with s. 223); S.S.I. 2008/115, art. 3(1)(a)(i) (with arts. 4-6, 10 (as amended (with effect from 31.1.2011) by S.S.I. 2011/31, art. 5))
F6S. 6(6)(a)(b) substituted (1.4.2008) for words in s. 6(6) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 14(4)(c), 227(3) (with s. 223); S.S.I. 2008/115, art. 3(1)(a) (with arts. 4-6, 10 (as amended (with effect from 31.1.2011) by S.S.I. 2011/31, art. 5))
F7Words in s. 6(8) substituted (1.4.2008) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 14(4)(d), 227(3) (with s. 223); S.S.I. 2008/115, art. 3(1)(a) (with arts. 4-6, 10 (as amended (with effect from 31.1.2011) by S.S.I. 2011/31, art. 5))
Modifications etc. (not altering text)
C1S. 6 applied (with modifications) (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 19(2)(a) (with reg. 24)
Marginal Citations