358 Authority’s powers to participate in proceedings: trust deeds for creditors in Scotland.U.K.
(1)This section applies where a trust deed has been granted by or on behalf of a debtor who is an authorised person.
(2)The trustee must, as soon as practicable after he becomes aware that the debtor is an authorised person, send to the Authority—
(a)in every case, a copy of the trust deed;
(b)where any other document or information is sent to every creditor known to the trustee in pursuance of paragraph 5(1)(c) of Schedule 5 to the 1985 Act, a copy of such document or information.
(3)Paragraph 7 of that Schedule applies to the Authority as if it were a qualified creditor who has not been sent a copy of the notice as mentioned in paragraph 5(1)(c) of the Schedule.
(4)The Authority must be given the same notice as the creditors of any meeting of creditors held in relation to the trust deed.
(5)A person appointed for the purpose by the Authority is entitled to attend and participate in (but not to vote at) any such meeting of creditors as if the Authority were a creditor under the deed.
(6)This section does not affect any right the Authority has as a creditor of a debtor who is an authorised person.
(7)Expressions used in this section and in the 1985 Act have the same meaning in this section as in that Act.