Coronavirus (Recovery and Reform) (Scotland) Act 2022 (asp 8)

Part 3 S Public service reform

Bankruptcy S

20 Bankruptcy: meaning of “qualified creditor” and “qualified creditors” S

(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.

Commencement Information

I1 S. 20 in force at 1.10.2022, see s. 59(1)