Bankruptcy (Scotland) Act 1985 (repealed)

23 Proceedings at statutory meeting before election of permanent trustee. S

(1) At the commencement of the statutory meeting, the chairman shall be the interim trustee who as chairman shall—

(a) for the purposes of subsection (2) below, accept or reject in whole or in part the claim of each creditor, and, if the amount of a claim is stated in foreign currency, he shall convert that amount into sterling, in such manner as may be prescribed, at the rate of exchange prevailing at the close of business on the date of sequestration;

(b) invite the creditors thereupon to elect one of their number as chairman in his place and shall preside over the election:

Provided that if a chairman is not elected in pursuance of this paragraph, the interim trustee shall remain the chairman throughout the meeting; and

(c) arrange for a record to be made of the proceedings at the meeting.

(2) The acceptance of a claim in whole or in part under subsection (1) above shall, subject to section 24(3) of this Act, determine the entitlement of a creditor to vote at the statutory meeting.

(3) On the conclusion of the proceedings under subsection (1) above, the interim trustee—

[F1 (a) shall make available for inspection—

(i) the statement of assets and liabilities; and

(ii) his statement of the debtor’s affairs prepared under section 20(1) of this Act;]

(b) shall answer to the best of his ability any questions, and shall consider any representations, put to him by the creditors relating to the debtor’s assets, business or financial affairs or his conduct in relation thereto;

(c) shall, after considering any such representations as are mentioned in paragraph (b) above, indicate whether, in his opinion, the debtor’s assets are unlikely to be sufficient as mentioned in section 20(1) of this Act; and

[F1 (d) shall determine whether it is necessary to revise his statement of the debtor’s affairs and, if he determines that it is necessary to revise the statement, he shall do so either at, or as soon as possible after, the statutory meeting.]

F2 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F1 (5) Where the interim trustee has revised his statement of the debtor’s affairs, he shall, as soon as possible after the statutory meeting, send a copy of the revised statement to every creditor known to him.]

Textual Amendments

F1 S. 23(3)(a) substituted (1.4.1993, subject to savings in arts. 4, 5 of S.I. 1993/438) by 1993 c. 6, s. 11(3), Sch. 1 para. 11(2)(a) (with s. 12(6)); S.I. 1993/438, art.3

S. 23(3)(d) substituted (1.4.1993, subject to savings in arts. 4, 5 of S.I. 1993/438) by 1993 c. 6, s. 11(3), Sch. 1 para. 11(2)(b) (with s. 12(6)); S.I. 1993/438, art.3

S. 23(5) substituted (1.4.1993, subject to savings in arts. 4, 5 of S.I. 1993/438) by 1993 c. 6, s. 11(3), Sch. 1 para. 11(3) (with s. 12(6)); S.I. 1993/438, art.3

F2 S. 23(4) repealed (1.4.1993, subject to savings in arts. 4, 5 of S.I. 1993/438) by 1993 c. 6, s. 11(4), Sch.2 (with s. 12(6)); S.I. 1993/438, art.3