- Latest available (Revised)
- Point in Time (29/05/2000)
- Original (As enacted)
Version Superseded: 01/04/2008
Point in time view as at 29/05/2000. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Bankruptcy (Scotland) Act 1985 (repealed), Section 3 is up to date with all changes known to be in force on or before 11 September 2024.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.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
(1)In every sequestration there shall be a permanent trustee whose general functions shall be—
(a)to recover, manage and realise the debtor’s estate, whether situated in Scotland or elsewhere;
(b)to distribute the estate among the debtor’s creditors according to their respective entitlements;
(c)to ascertain the reasons for the debtor’s insolvency and the circumstances surrounding it;
(d)to ascertain the state of the debtor’s liabilities and assets;
(e)to maintain a sederunt book during his term of office for the purpose of providing an accurate record of the sequestration process;
(f)to keep regular accounts of his intromissions with the debtor’s estate, such accounts being available for inspection at all reasonable times by the commissioners (if any), the creditors and the debtor; and
(g)whether or not he is still acting in the sequestration, to supply the Accountant in Bankruptcy with such information as the Accountant in Bankruptcy considers necessary to enable him to discharge his functions under this Act.
(2)A permanent trustee in performing his functions under this Act shall have regard to advice offered to him by the commissioners (if any).
(3)If the permanent trustee has reasonable grounds to suspect that an offence has been committed in relation to a sequestration—
(a)by the debtor in respect of his assets, his dealings with them or his conduct in relation to his business or financial affairs; or
(b)by a person other than the debtor in that person’s dealings with the debtor, the interim trustee or the permanent trustee in respect of the debtor’s assets, business or financial affairs,
he shall report the matter to the Accountant in Bankruptcy.
(4)A report under subsection (3) above shall be absolutely privileged.
[F1(5)Paragraph (g) of subsection (1) above and subsection (3) above shall not apply in any case where the permanent trustee is the Accountant in Bankruptcy.
(6)A permanent trustee may apply to the sheriff for directions in relation to any particular matter arising in the sequestration.
(7)Where the debtor, a creditor or any other person having an interest is dissatisfied with any act, omission or decision of the permanent trustee, he may apply to the sheriff and, on such an application being made, the sheriff may confirm, annul or modify any act or decision of the permanent trustee or may give him directions or make such order as he thinks fit.]
Textual Amendments
F1S. 3(5)-(7) added (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.1 (with s. 12(6)); S.I. 1993/438, art.3
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 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.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
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.
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: