Petitions for sequestration
F15BCertificate for sequestration
(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.