David Menzies
Scottish laws on insolvency have been brought together for the first time in a generation as the new Bankruptcy (Scotland) Act 2016 comes into force today.
The Act captures all of the amendments made to the primary legislation governing bankruptcy in Scotland, the Bankruptcy (Scotland) Act 1985, including the wide-ranging reforms introduced in April 2015 through the Bankruptcy and Debt Advice (Scotland) Act 2014. The existing Bankruptcy Regulations have also been updated and consolidated and will come into force along with the new Act.
Policy officials from the Accountant in Bankruptcy worked with the Scottish Law Commission, which published a consultation paper on consolidating bankruptcy legislation in 2011 …
Read the full article at: http://www.scottishlegal.com/2016/11/30/insolvency-laws-consolidated-in-new-bankruptcy-act/