Publication - Notes for Guidance

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

First published: 1 November 2021
Last updated: 18 April 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

7.5 Income

Income of the debtor, as at the date of bankruptcy, does vest with the trustee.

Income the debtor receives during the period of bankruptcy does not vest. However the trustee is entitled to seek a contribution from the income (see section 8).

First published: Monday, 1 November 2021
Last updated: Thursday, 18 April 2024 - show all updates
All updates: 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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Information

7.5 Income

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