PART III SCOTLAND

15 Qualifying agreements
1 A qualifying agreement shall be made within a period of nine weeks beginning with the later of the following dates—
(a) the date on which the act and warrant is issued on confirmation of the permanent trustee’s appointment in accordance with the provisions of the 1985 Act or the date of the appointment of a judicial factor; or
(b) in the case of a scheme referred to in regulation 12(1)(a) or (b) above, the date, if later than that referred to in sub-paragraph (a) above, on which any rights of the debtor vest in the permanent trustee or judicial factor in accordance with section 11(5) or, as the case may be, (7) of the 1999 Act.
2 A qualifying agreement shall—
(a) be in writing;
(b) incorporate all the terms which the debtor and the permanent trustee or judicial factor have expressly agreed; and
(c) be subscribed by the debtor and the permanent trustee or judicial factor, in each case in accordance with section 3(1) of the Requirements of Writing (Scotland) Act 1995.
1995 c. 7.
3 Where—
(a) the debtor has failed to make full disclosure of all material facts in respect of any pension arrangement which is the subject of a qualifying agreement; and
(b) has failed to do so for the purpose of enabling his rights under such an arrangement to be excluded from his estate for the purposes of the 1980 Act or the 1985 Act where they would not have otherwise been excluded,
the permanent trustee or judicial factor may revoke that agreement by giving the debtor notice of revocation.
4 A notice of revocation shall—
(a) be dated;
(b) be in writing;
(c) specify the reasons for revocation of the qualifying agreement;
(d) specify the date on which that agreement shall be revoked, such date not being one falling within a period of thirty days beginning with the date of the notice; and
(e) inform the debtor that he has the right to apply for an exclusion order within a period of thirty days beginning with the date on which the agreement falls to be revoked in accordance with that notice.
5 Where a qualifying agreement has been made or revoked in accordance with the provisions of this regulation, the permanent trustee or judicial factor shall, within a period of thirty days beginning with the date on which the agreement was made or, in the case of a notice of revocation, the date required under paragraph (4)(a) above, notify the responsible person in writing of that fact.