Publication - Notes for Guidance

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

First published: 1 November 2021
Last updated: 19 June 2024 - see all updates
Topic: Bankruptcy

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.

Supporting documents

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.

First published: Monday, 1 November 2021
Last updated: Wednesday, 19 June 2024 - show all updates
All updates: Wednesday, 19 June 2024
Changes to AiB team names. Sections 12.2.1, 12.3, 12.5, 13.10, 13.13.1, 13.14 amended. Section 13.12.10 added

Thursday, 18 April 2024
Supporting document added to website

Monday, 29 January 2024
Published on website

Saturday, 1 October 2022
Amended sections 2.2, 12.7.2, 12.8.2, 13.6, 13.9, 13.12, 13.13, 13.14, 16.5, 18.5.1

Monday, 1 November 2021
Published

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7.3 Property held on trust

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