The Bankruptcy (Scotland) Bill 2016
The Bankruptcy (Scotland) Bill 2016 passed its final parliamentary hurdle today and will, after Royal Assent become law in Scotland, probably by the end of this year. The Bill is only the second ever piece of primary consolidation legislation to pass through the Scottish Parliament, following the Salmon and Freshwater Fisheries Consolidation Act 2003.
Scottish bankruptcy legislation has grown up through a series of amendments and new piece-meal primary legislation for many years, and it has now been brought together in one consolidated Act of the Scottish Parliament.
Business Minister Fergus Ewing said: “Policy officials from Accountant in Bankruptcy have worked with the Scottish Law Commission, which published a consultation paper on consolidating bankruptcy legislation in 2011 and has led the process of drafting the Bill, to bring these proposals before Parliament.
“The consolidation exercise has been warmly received by the money advice and insolvency industry.
“By consolidating all of the various elements of legislation in one place, the Bill will make bankruptcy policy more accessible, both for the money advice community and those experiencing financial difficulties.”
Our expert insolvency team would be happy to discuss any matters relating to insolvency in Scotland.
Please contact Pamela Muir, in the first instance.
Tel: 0141 332 5666< Back