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Notes for Guidance - Bankruptcy (Scotland) Act 2016 (as amended)

This guidance describes the general functions of Accountant in Bankruptcy, interim trustees, trustees and commissioners in relation to their responsibilities regarding bankruptcies which started on or after 30 November 2016.

7.3 Property held on trust

This does not vest in the trustee. If the debtor has assets which are held on behalf of a third party, or if the debtor has assets which they have received from a trust by a third party, they do not vest under section 33 (1)(b) of the Act.

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