Bankruptcy and Diligence etc. (Scotland) Act 2007

100 Protection of purchaser under contract where warrant for sale granted

(1) This section applies where—

(a) a warrant for sale has been granted under section 97(2) of this Act; and

(b) a person (in this section, the “prospective purchaser”) had, before the notice of land attachment was registered, entered into a contract to purchase attached land from the debtor.

(2) The sheriff may, on the application of the prospective purchaser and if satisfied as to the matters mentioned in section 99(3) of this Act, make an order—

(a) suspending the warrant for sale for a period not exceeding 1 year from the day on which the order is made;

(b) requiring the prospective purchaser to pay the price under the contract to the appointed person; and

(c) making such other incidental or consequential provision as the sheriff thinks fit.

(3) Section 116 of this Act applies to the proceeds of sale paid to the appointed person in pursuance of an order under subsection (2) above as it applies to a sale in pursuance of a warrant for sale.