Part 3Public service reform
Bankruptcy
I120Bankruptcy: meaning of “qualified creditor” and “qualified creditors”
1
The Bankruptcy (Scotland) Act 2016 is modified by subsection (2).
2
In section 7(1) (qualified creditor and qualified creditors)—
a
in the definition of “qualified creditor”, for “£3,000” substitute “£5,000”
,
b
in the definition of “qualified creditors”, for “£3,000” substitute “£5,000”
.
3
The modifications made by subsection (2) have no effect in relation to any sequestration in respect of which the petition was presented before 1 October 2022.