Part XXIV

Insolvency

Voluntary arrangements

Authority’s powers to participate in proceedings: trust deeds for creditors in Scotland
358
1
This section applies where a trust deed has been granted by or on behalf of a debtor who is an authorised person.
2
The trustee must, as soon as practicable after he becomes aware that the debtor is an authorised person, send to the Authority—
a
in every case, a copy of the trust deed;
b
where any other document or information is sent to every creditor known to the trustee in pursuance of paragraph 5(1)(c) of Schedule 5 to the 1985 Act, a copy of such document or information.
3
Paragraph 7 of that Schedule applies to the Authority as if it were a qualified creditor who has not been sent a copy of the notice as mentioned in paragraph 5(1)(c) of the Schedule.
4
The Authority must be given the same notice as the creditors of any meeting of creditors held in relation to the trust deed.
5
A person appointed for the purpose by the Authority is entitled to attend and participate in (but not to vote at) any such meeting of creditors as if the Authority were a creditor under the deed.
6
This section does not affect any right the Authority has as a creditor of a debtor who is an authorised person.
7
Expressions used in this section and in the 1985 Act have the same meaning in this section as in that Act.