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Coronavirus (Scotland) (No.2) Act 2020
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Financial criteria for minimal asset process
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9(1)The Bankruptcy (Scotland) Act 2016 applies in accordance with the modifications in sub-paragraph (2).
(2)Section 2 (sequestration of estate of living debtor) has effect as if—
(a)in subsection (2)(b)(ii), for “£17,000” there were substituted “£25,000”,
(b)after subsection (2) there were inserted—
“(2A)For the purposes of subsection (2)(b), the amount of a loan made to the debtor is not to be regarded as a debt where the loan was made by virtue of regulations to which section 73B (regulations relating to student loans) of the Education (Scotland) Act 1980 applies.”.
(3)The modifications in sub-paragraph (2) apply in relation to a sequestration of a debtor’s estate only where the date of the debtor application is on or after the date on which this paragraph comes into force.
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