Valid from 15/11/2010
[F15BCertificate for sequestrationS
(1)A certificate for sequestration of a debtor's estate is a certificate granted by an authorised person certifying that the debtor is unable to pay debts as they become due.
(2)A certificate may be granted only on the application of the debtor.
(3)An authorised person must grant a certificate if, and only if, the debtor can demonstrate that the debtor is unable to pay debts as they become due.
(4)In this section “authorised person” means a person falling within a class prescribed under subsection (5)(a).
(5)The Scottish Ministers may by regulations—
(a)prescribe classes of persons authorised to grant a certificate under this section;
(b)make provision about certification by an authorised person, including—
(i)the form and manner in which a certification must be made;
(ii)the fee, if any, which an authorised person is entitled to charge for or in connection with granting a certificate;
(c)prescribe a period for the purpose of section 5(2B)(c)(ib) of this Act;
(d)make different provision for different cases or classes of case.]
Textual Amendments
F1S. 5B inserted (S.) (15.11.2010) by Home Owner and Debtor Protection (Scotland) Act 2010 (asp 6), ss. 9(2), 17(3)(4) (with s. 14); S.S.I. 2010/314, art. 6 (subject to transitional provisions and savings in S.S.I. 2010/316, arts. 4-7)