20Bankruptcy: meaning of “qualified creditor” and “qualified creditors”
This section has no associated Explanatory Notes
(1)The Bankruptcy (Scotland) Act 2016 is modified by subsection (2).
(2)In section 7(1) (qualified creditor and qualified creditors)—
(a)in the definition of “qualified creditor”, for “£3,000” substitute “£5,000”,
(b)in the definition of “qualified creditors”, for “£3,000” substitute “£5,000”.
(3)The modifications made by subsection (2) have no effect in relation to any sequestration in respect of which the petition was presented before 1 October 2022.