Rule 27.8 Insolvency or death of cautioner or guarantorC1

Scotland

Where caution has been found by bond of caution or security has been given by guarantee and the cautioner or guarantor, as the case may be—

(a)

becomes apparently insolvent within the meaning assigned by F1section 16 of the Bankruptcy (Scotland) Act 2016 (meaning of apparent insolvency),

(b)

calls a meeting of his creditors to consider the state of his affairs,

(c)

dies unrepresented, or

(d)

is a company and—

(i)

an F2administration, bank administration or building society special administration order or a winding up, bank insolvency or building society insolvency order has been made, or a resolution for a voluntary winding up has been passed, with respect to it,

(ii)

a receiver of all or any part of its undertaking has been appointed, or

(iii)

a voluntary arrangement (within the meaning assigned by section 1(1) of the M1Insolvency Act 1986) has been approved under Part I of that Act,

the party entitled to benefit from the caution or guarantee may apply by motion for a new security or further security to be given.

Annotations

Textual amendments

F1: Words in Sch. 1 rule 27.8(a) substituted (30.11.2016) by Act of Sederunt (Rules of the Court of Session, Sheriff Appeal Court Rules and Sheriff Court Rules Amendment) (Bankruptcy (Scotland) Act 2016) 2016 (S.S.I. 2016/312), paras. 1(2), 5(2)
F2: Words in Sch. 1 rule 27.8(d)(i) substituted (1.10.2009) by Act of Sederunt (Sheriff Court Rules) (Miscellaneous Amendments) 2009 (S.S.I. 2009/294), paras. 1(1), 16

Marginal citations

M1: 1986 c.65.

Modifications

C1: Rule 27.8 applied (with modifications) (1.1.1994) by S.I. 1993/3128, para. 3(2).

Notes on Schedule First

Textual amendments

F1

Sch. 1 (with appendices 1 and 2) substituted (1.1.1994) for Sch. 1 (with appendix) by S.I. 1993/1956, para. 2, Sch.1.

Sch. 1 (except rule 29.10) excluded (1.4.1997) by S.I. 1997/291, para. 3.24, Sch. 3

Sch. 1 extended (14.2.2000) by S.I. 2000/124, reg. 30(5)

Modifications

C1: Sch. 1 applied (30.11.2016) by Bankruptcy (Scotland) Act 2016 (asp 21), ss. 121(5), 237(2) (with ss. 232, 234(3), 235, 236); S.S.I. 2016/294, reg. 2
C2: Sch. 1 modified (1.12.2025) by Act of Sederunt (Intimation and Service) 2025 (S.S.I. 2025/301), paras. 1(2), (4), 2 (with para. 1(5))
C3: Sch. 1 modified (1.12.2025) by Act of Sederunt (Electronic Signature and Electronic Transmission of Documents) 2025 (S.S.I. 2025/302), paras. 1(2), 2(1), 3-5