Article 3 Form of a demand

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

rule 3(a) word substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 61(b)(i)
rule 3(e) word substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 61(b)(i)
rule 3(f)(i) word substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 61(b)(ii)

A demand must—

(a)

be dated and signed by a member of the Authority' staff authorised by it for that purpose;

(b)

specify that it is made under section 372(4)(a) of the Act;

(c)

state the amount of the debt, to whom it is owed and the way in which it arises;

(d)

state the grounds on which it is alleged that the individual appears to have no reasonable prospect of paying the debt;

(e)

specify the name, address and telephone number of one or more persons with whom the individual may enter into communication with a view to establishing to the Authority’s satisfaction that there is a reasonable prospect that the debt will be paid when it falls due or (as the case may be) that the debt will be secured or compounded; and

(f)

include an explanation to the individual of the following matters:

(i)

the purpose of the demand and the fact that, if the individual does not comply with the demand, the Authority may petition under section 5 of the Bankruptcy (Scotland) Act 1985^f1 for the sequestration of his estate;

(ii)

the time within which the demand must be complied with, if that consequence is to be avoided;

(iii)

the methods of compliance which are open to the individual; and

(iv)

the individual’s right to apply to the court for the demand to be set aside.

Annotations

Footnotes

f1: 1985 c. 66.