Regulation 25 InsolvencyI1
Scotland
Where, before, on or after the date of sequestration of an eligible student’s estate, that student receives, or is entitled to receive, sums by way of loan—
the Accountant in Bankruptcy must not, in fixing an amount under section 90 (debtor contribution order) of the Bankruptcy (Scotland) Act 2016f1 (“the 2016 Act”) treat the sums as income of the eligible student,
for the purpose of section 86(5) (further provision as regards vesting of estate) of the 2016 Act the sums are not to be treated as estate vesting in, or requiring to be conveyed or delivered to, the eligible student’s permanent trustee, and
any debt or liability to which the eligible student is, or may become, subject in respect of the sums is not to be treated as a debt or liability—
for the purposes of the sequestration (or of any offer of composition to the permanent trustee), or
from which the eligible student is discharged on the expiry of a period after the date of sequestration, under or by virtue of section 137 (discharge of debtor where Accountant in Bankruptcy not trustee), 138 (discharge of debtor where Accountant in Bankruptcy trustee) or 140 (discharge of debtor to whom section 2(2) applies) of the 2016 Act.
Annotations
Commencement
Footnotes
- f1