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The Bankruptcy (Scotland) Regulations 2016

Draft Legislation:

This is a draft item of legislation. This draft has since been made as a Scottish Statutory Instrument: The Bankruptcy (Scotland) Regulations 2016 No. 397

Conversion of foreign currency claims

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22.  For the purposes of sections 48(1)(a) and 126(5) of the Act, the manner of conversion into sterling of the amount of a claim stated in foreign currency is to be at a single exchange rate of for that currency determined by the trustee with reference to the exchange rates prevailing at the close of business on the date of sequestration(1).

(1)

This regulation re-enacts, with modifications, regulation 11 of the 2014 Regulations.

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