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Bankruptcy and Diligence etc. (Scotland) Act 2007
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- 01/04/2008- Amendment
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Bankruptcy and Diligence etc. (Scotland) Act 2007, Section 188 is up to date with all changes known to be in force on or before 09 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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188Redemption of banking instrumentS
This section has no associated Explanatory Notes
(1)The debtor may, before the expiry of the period of 14 days beginning with the date on which the report of money attachment is made, redeem a banking instrument attached by the money attachment.
(2)The debtor may not redeem an instrument in relation to which an order under section 181(3) of this Act has been made.
(3)The amount for which such an instrument may be redeemed is the value of the instrument specified in the report of money attachment.
(4)The [F1officer of court] must, on receiving payment from the debtor for the redemption of an attached instrument—
(a)grant a receipt in (or as nearly as may be in) the form prescribed by Act of Sederunt to the debtor; and
(b)report the redemption to the sheriff as soon as is reasonably practicable.
(5)The money attachment ceases, on the grant of such a receipt, to have effect in relation to the redeemed instrument.
Textual Amendments
F1Words in s. 188(4) substituted (31.1.2011) by Public Services Reform (Scotland) Act 2010 (asp 8), s. 134(7), Sch. 4 para. 24(2); S.S.I. 2011/30, art. 3(1)(3), Sch. 1
Commencement Information
I1S. 188 wholly in force at 23.11.2009; s. 188 not in force at Royal Assent see s. 227; s. 188(4)(a) in force for certain purposes at 1.4.2008 by S.S.I. 2008/115, art. 3(4), Sch. 3 (with arts. 4-6, 10); s. 188 in force at 23.11.2009 in so far as not already in force by S.S.I. 2009/369, art. 3 (with transitional modifications in art. 4)
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