Economic Crime and Corporate Transparency Act 2023

135 Sequestration of limited partnerships: concurrent winding up proceedings U.K.

(1) The Bankruptcy (Scotland) Act 2016 is amended as follows.

(2) In section 17 (concurrent proceedings for sequestration or analogous remedy)—

(a) in subsection (2)(b), after “awarded” insert “and the debtor’s estate is being sequestrated”;

(b) in subsection (2)(c)—

(i) omit “has been made”;

(ii) after “estate” insert “is pending”;

(c) in subsection (2)(d), after “application” insert “and the debtor’s estate is being sequestrated”;

(d) in subsection (2)(g), after “under” insert “section 28 of the Limited Partnerships Act 1907,”;

(e) after subsection (2)(g) insert—

“(ga) such a petition has been granted,

(gb) an application in respect of the debtor is before a court under section 29 of the Limited Partnerships Act 1907,

(gc) such an application has been granted,”;

(f) after subsection (7) insert—

“(7A) For the purposes of subsection (2)(c), a debtor application is “pending” if it has been made and has not fallen, been withdrawn or been determined.”

(3) In section 18 (powers in relation to concurrent proceedings)—

(a) in subsection (1), for “(g)” substitute “(gc)”;

(b) in subsection (2), for “or (g)” substitute “, (g), (ga), (gb) or (gc)”;

(c) in subsection (8), for “(g)” substitute “(gc)”.

Commencement Information

I1 S. 135 in force at Royal Assent for specified purposes, see s. 219(1)(2)(b)