OpenLegislation

Part I

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Column 1Column 2
(Functions)(Rates)
1

In respect of the exercise by or on behalf of the Accountant in Bankruptcy of his functions as interim trustee in a sequestration where he is not appointed as permanent trustee in that sequestration—

(i)

in respect of each of the first five hours of work;

£ 28 per hour
(ii)

in respect of each subsequent hour of work.

£ 50 per hour
2

In respect of the exercise by or on behalf of the Accountant in Bankruptcy of his functions as interim and permanent trustee, or as permanent trustee, in a sequestration, other than in respect of the realisation of assets in the sequestrated estate—

(i)

in respect of each of the first 21 hours of work;

£ 28 per hour
(ii)

in respect of each subsequent hour of work.

£ 50 per hour
3

In respect of the exercise by or on behalf of the Accountant in Bankruptcy of his functions as permanent trustee in a sequestration in relation to the realisation of assets in the sequestrated estate—

(i)

in respect of the total price paid in a transaction by the purchaser of heritable property, including any interest paid thereon, but after the deduction of any sums paid to secured creditors in respect of their securities over that property:

(a)

on the first £40,000 or fraction thereof;

1.5% of that amount
(b)

on the next £40,000 or fraction thereof;

1% of that amount
(c)

on all further sums

0.5% of that amount
(ii)

in respect of the proceeds of the sale of moveable property, after the deduction of the expenses of sale and any sums paid to secured creditors in respect of their securities over that property.

5% of that amount