[F173NHearings following notice of objectionS
(1)Subject to subsection (5) below, before the expiry of the period of 8 weeks beginning with the day on which an application by notice of objection is made under section 73M(1) of this Act, the sheriff shall hold a hearing to determine the objection.
(2)At the hearing under subsection (1) above, the sheriff shall not make any order without first giving—
(a)the creditor;
(b)the arrestee;
(c)the debtor; and
(d)any third party,
an opportunity to be heard.
(3)Where the sheriff upholds the objection, the sheriff may make an order recalling or restricting the arrestment.
(4)Where the sheriff rejects the objection, the sheriff may make an order requiring a sum determined in the order to be released to the creditor—
(a)in a case where the period mentioned in section 73J(3) of this Act has not expired, on the expiry of that period; or
(b)in any other case, as soon as reasonably practicable after the date on which the order is made.
(5)Where—
(a)the sheriff is satisfied that it is more appropriate for the matters raised at the hearing to be dealt with by—
(i)an action of multiplepoinding; or
(ii)other proceedings,
raised in relation to the funds attached; or
(b)at any time before a decision is made under subsections (3) or (4) above, such an action is or other proceedings are raised,
the sheriff shall make an order sisting the proceedings on the objection.
(6)The sheriff may make such other order as the sheriff thinks fit.
(7)Where the sheriff makes an order under this section, the sheriff shall order the person who objected to intimate that order to such of the persons mentioned in subsection (2) above as the sheriff thinks fit.
(8)A person aggrieved by a decision of the sheriff under this section may, before the expiry of the period of 14 days beginning with the day on which the decision is made, appeal, on point of law only, to the sheriff principal, whose decision shall be final.]
Textual Amendments
F1Pt. 3A inserted (1.4.2008 for the insertion of ss. 73A(5), 73B(2), 73C(2), 73E(3), 73F(6), 73G(2), 73H(1)(2), 73M(2)(a), 73Q(3)(a), 73S(1)(2) for specified purposes and for the insertion of s. 73A(2), 22.4.2009 otherwise except for the insertion of s. 73D) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 206, 227(3) (with s. 223); S.S.I. 2008/115, art. 3(1)(e)(4), sch. 3 (with arts. 4-6, 10, 15) (as amended: (23.2.2009) by S.S.I. 2009/67, art. 7; (31.1.2011) by S.S.I. 2011/31, art. 5(a); and (4.10.2014) by S.S.I. 2014/173, arts. 1(2), 3); S.S.I. 2009/67, art. 3(1)(b) (with arts. 4-6) (as amended (31.1.2011) by S.S.I. 2011/31, art. 5(b))