Part 9

Insolvency etc.

Sequestration in Scotland

Modifications of the 2016 Act
420
1
This section applies if an award of sequestration is made in Scotland.
2
The following property is excluded from the debtor's estate for the purposes of the
2016
Act—
a
property for the time being subject to a restraint order which was made under section 41, 120 or 190 before the award of sequestration;
b
property for the time being detained under or by virtue of section 44A, 47J, 47K, 47M, 47P, 122A, 127J, 127K, 127M, 127P, 193A, 195J, 195K, 195M or 195P;
c
property in respect of which an order under section 50, 128(3) or 198 is in force;
d
property in respect of which an order under section 67A, 131A or 215A is in force.
3
Subsection (2)(a) applies to heritable property in Scotland only if the restraint order is recorded in the General Register of Sasines or registered in the Land Register of Scotland before the award of sequestration.
4
It shall not be competent to submit a claim in relation to a confiscation order to the trustee in the sequestration in accordance with section 122 of the 2016 Act; and the reference here to a confiscation order is to any confiscation order that has been or may be made against the debtor under Part 2, 3 or 4 of this Act.
5
If at any time in the period before the award of sequestration is made an interim trustee stands appointed under section 54(1) of the 2016 Act and any property in the debtor’s estate is at that time subject to a restraint order made under section 41, 120 or 190, the powers conferred on the trustee by virtue of that Act do not apply to property then subject to the restraint order.
Words in s. 420(4) substituted (30.11.2016) by The Bankruptcy (Scotland) Act 2016 (Consequential Provisions and Modifications) Order 2016 (S.I. 2016/1034), art. 1, Sch. 1 para. 25(7)(b)(ii)
S. 420 in force at 24.3.2003 by S.I. 2003/333, art. 2, Sch.
Words in s. 420(4) substituted (30.11.2016) by The Bankruptcy (Scotland) Act 2016 (Consequential Provisions and Modifications) Order 2016 (S.I. 2016/1034), art. 1, Sch. 1 para. 25(7)(b)(i)
S. 420 title substituted (30.11.2016) by The Bankruptcy (Scotland) Act 2016 (Consequential Provisions and Modifications) Order 2016 (S.I. 2016/1034), art. 1, Sch. 1 para. 25(8)
Words in s. 420(5) substituted (30.11.2016) by The Bankruptcy (Scotland) Act 2016 (Consequential Provisions and Modifications) Order 2016 (S.I. 2016/1034), art. 1, Sch. 1 para. 25(7)(c)
S. 420(2) substituted (1.6.2015 for specified purposes, 1.3.2016 in so far as not already in force) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 82; S.I. 2015/983, arts. 2(2)(e), 3(s); S.I. 2016/147, art. 3(i)
Word in s. 420(2) substituted (30.11.2016) by The Bankruptcy (Scotland) Act 2016 (Consequential Provisions and Modifications) Order 2016 (S.I. 2016/1034), art. 1, Sch. 1 para. 25(7)(a)