Statutory function

I.

Maintain the register of personal insolvencies. The Accountant maintains the public Register of Insolvencies in which is recorded details of sequestrations awarded by the Scottish courts or the Accountant in Bankruptcy.

The Register also records Protected Trust Deeds granted by debtors and Bankruptcy Restriction Orders and Undertakings.

II.

Generally supervise the regulation of the sequestration process including the performance of trustees and commissioners in the exercise of their statutory duty.

III.

Determine debtors' applications for bankruptcy.

IV.

Act as trustee in all sequestrations awarded by The Accountant in Bankruptcy, where The Accountant does not appoint a person to be the trustee (by virtue of Section 2(1B) of the 1985 Act and Section 51(8) of the 2016 Act).

V.

Act as trustee in all sequestrations awarded by the sheriff courts, where a sheriff does not appoint a person to be trustee (by virtue of Section 2(2C) of the 1985 Act and Section 51(7) of the 2016 Act)

VI.

Act as interim trustee before the award of sequestration, if appointed by the sheriff, except those where an alternative interim trustee is appointed when nominated by the petitioning creditor (by virtue of Section 2(6)(b) of the 1985 Act and Section 54(2)(b) of the 2016 Act,).

VII.

Act as trustee on the resignation or death of the original trustee and no new trustee is elected (by virtue of Sections 28(5)(a) and 28A(2)(b) of the 2016 Act and Sections 69(6)(a) and 66(2)(b) of the 2016 Act).

VIII.

Be responsible for the registration of company insolvency documents required to be filed by receivers and liquidators in terms of the Insolvency Act 1985. This function was transferred from the Registrar of Companies and the Assistant Registrar of Friendly Societies by the Scotland Act 1998, Schedule 8, p23(1), (2) and (3).