Currently creditors are unable to take diligence against money and banking instruments in the possession of the debtor.
Money Attachment is a new diligence introduced by Part 8 of the 2007 Act and it is expected this provision will be commenced in June/July 2009.
For money attachment to take place a creditor will need to have their debt constituted by decree or other document of debt and will have to serve a charge for payment.
Money attachment will be executed by sheriff officers who will be able to uplift and remove money subject to attachment. A report will be submitted to the sheriff, after which a payment order must be applied for. Once granted a payment order will give authority for funds to be released to the creditor. The payment order will also appoint the sheriff officer as the irrevocable agent of the debtor for the purpose of banking cheques which were attached.