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Bankruptcy (Scotland) Act 1985
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- UK Public General Acts
- 1985 c. 66
- SCHEDULE 4
- Paragraph 3
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This is the original version (as it was originally enacted).
3The commissioners or, if there are no commissioners, the Accountant in Bankruptcy—
(a)if they consider (or he considers) that the offer of composition will be timeously implemented and that, if the rules set out in section 51 of, and Schedule 1 to, this Act were applicable, its implementation would secure payment of a dividend of at least 25p in the £ in respect of the ordinary debts ; and
(b)if satisfied with the caution or other security specified in the offer,
shall recommend that the offer should be placed before the creditors.
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