PART 1Application or petition for sequestration
Applications and petitions
I19Certificate for sequestration
1
A certificate for sequestration of the estate of a debtor is a certificate granted by a money adviser certifying that the debtor is unable to pay debts as they become due.
2
A certificate may be granted only on the debtor applying for it.
3
A money adviser must grant a certificate if, and only if, the debtor can demonstrate that the debtor is unable to pay debts as they become due.
4
The Scottish Ministers may—
a
by regulations make provision about certification by a money adviser, including—
i
the form and manner in which a certification must be made,
ii
the fee, if any, which a money adviser is entitled to charge for or in connection with granting a certificate,
b
prescribe a period for the purpose of section 2(2)(f) or (8)(e)(ii).