- Latest available (Revised)
- Original (As enacted)
Bankruptcy and Diligence etc. (Scotland) Act 2007, Section 129 is up to date with all changes known to be in force on or before 16 August 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.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
(1)There is to be a form of diligence over property of a debtor to be known as residual attachment.
(2)Residual attachment may be used to attach property (heritable or moveable) only of such description or class as may be specified by the Scottish Ministers by regulations.
(3)The Scottish Ministers may specify any property but only if—
(a)it is transferable; and
(b)it is not—
(i)attachable by; or
(ii)exempt from,
any other diligence.
(4)The Scottish Ministers may not specify—
(a)a right of a debtor as tenant of a dwellinghouse which is the debtor's sole or main residence; or
(b)a right of a debtor as tenant of a croft.
(5)Property which is owned in common by a debtor and a third party may be attached by residual attachment in satisfaction of the debts of the debtor.
(6)Regulations under subsection (2) above may—
(a)vary the description of; or
(b)remove property of such description or class from,
the property which may be attached by residual attachment.
(7)Regulations under subsection (2) above may make further provision, in the case of property of a particular description or class, about—
(a)the content and effect of an application for an order under section 132(2) of this Act (in this Chapter, a “residual attachment order”);
(b)the effect of such an order;
(c)the content and effect of an application for an order under section 136(2) of this Act (in this Chapter, a “satisfaction order”);
(d)the effect of such an order and, in particular—
(i)the methods for and procedures involved in satisfying the sum recoverable by the residual attachment out of the attached property which such an order may authorise;
(ii)the duration of such an order; and
(iii)the disbursement of any sums recovered by such an order;
(e)the powers of the court in relation to residual attachment orders, satisfaction orders and other orders made by virtue of this Chapter; and
(f)the termination of residual attachment.
(8)Regulations under subsection (2) above may make further provision—
(a)about the effect of the making of time to pay directions and time to pay orders on residual attachment; and
(b)about the effect of sequestration on residual attachment including, without prejudice to that generality, provision—
(i)that a residual attachment created during such period before the date of sequestration as may be prescribed is not to be effectual to create a preference for the creditor;
(ii)about the effect of sequestration on the rights of a creditor to insist in a residual attachment created before any such period; and
(iii)about the effect of sequestration on the rights of a creditor to create a residual attachment on or after the date of sequestration.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: