- Status
- In Force
- Penalty ceiling
- Prosecution 2 of 32 obligations carry an unlimited fine. 30 have no criminal penalty — flagged in the list below.
Does it bind you?
Business-side roles with duties under this instrument.
Trustee12
Trader7
Any Person3
Responsible Person1
Applicant1
Employer1
Plus 7 duties on the regulator, Crown ministers and public bodies — folded into the section list below.
Other Acts binding the same actors
If a role above is yours, these are the other instruments that most often bind it.
Trustee — also bound by 104 other Acts
Trader — also bound by 825 other Acts
Value Added Tax Regulations 1995
416 duties
Companies Act 2006
243 duties
Companies Act 1985
85 duties
Any Person — also bound by 2340 other Acts
Human Medicines Regulations 2012
184 duties
Merchant Shipping Act 1995
144 duties
Insolvency (England and Wales) Rules 2016
104 duties
Communications Act 2003
92 duties
Road Traffic Act 1988
92 duties
Responsible Person — also bound by 108 other Acts
MH(CT)(S)A 2003
30 duties
Applicant — also bound by 307 other Acts
Human Medicines Regulations 2012
42 duties
The Land Registration Rules 2003
25 duties
Regulation (EU) No 1178/2011 (Aircrew)
20 duties
Value Added Tax Regulations 1995
18 duties
Employer — also bound by 682 other Acts
What it requires
Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.
s.009
Certificate for sequestration (opens in a new tab)
Regulated
- Money advisers must grant certificates for sequestration when conditions metAny Person
s.014
Further provisions relating to debtor applications (opens in a new tab)
Regulated
- Executor of insolvent estate must apply for bankruptcy within 12 monthsTrader
s.017
Concurrent proceedings for sequestration or analogous remedy (opens in a new tab)
Prosecution
- Fail to notify concurrent sequestration proceedingsAny Person
Unlimited fine
s.019
Creditor's oath (opens in a new tab)
Regulated
- Produce a creditor's oath and supporting evidence for sequestration in ScotlandApplicant
s.032
Application under section 31: further procedure where Accountant in Bankruptcy is not trustee (opens in a new tab)
Regulated
- Trustee must submit statement on debtor's affairs to AiBTrustee
s.035
Recall of sequestration where Accountant in Bankruptcy is trustee (opens in a new tab)
Regulated
Other duties (1) — Crown / regulator
- AiB must consider recall of sequestration and notify creditorsStatutory regulator
s.044
Calling of statutory meeting (opens in a new tab)
Regulated
- Notify creditors about statutory meeting and call it when requiredTrustee
s.045
Procedure where no statutory meeting called (opens in a new tab)
Regulated
Other duties (1) — Crown / regulator
- Trustee must report to AiB when no statutory meeting is calledStatutory regulator
s.047
Offences in relation to submission of claims for voting purposes (opens in a new tab)
Prosecution
- Submit false bankruptcy claim or fail to report false evidenceAny Person
Unlimited fine
s.048
Proceedings before trustee vote (opens in a new tab)
Regulated
- Conduct statutory meeting and handle creditor claims and votesTrustee
s.069
Resignation or death of trustee (opens in a new tab)
Regulated
Other duties (1) — Crown / regulator
- AiB must approve trustee resignation if unable to act or misconductCrown / Minister / Government department
s.094
Deductions from debtor's earnings and other income (opens in a new tab)
Regulated
- Comply with earnings deduction instructions from a debtor's trusteeTrader
s.108
Taking possession of estate by trustee (opens in a new tab)
Regulated
- Trustee must take control of debtor's estate and assets promptlyTrustee
s.116
Debtor's account of state of affairs (opens in a new tab)
Regulated
- Provide a written account of your financial affairs every 6 monthsTrader
s.119
Public examination (opens in a new tab)
Regulated
- Trustee must apply for public examination of debtor if creditors request itTrustee
s.121
Conduct of examination (opens in a new tab)
Regulated
- Answer questions under oath during your bankruptcy examinationResponsible Person
s.122
Submission of claims to trustee (opens in a new tab)
Regulated
- Submit claim to trustee to vote or receive dividend in sequestrationTrader
s.125
Further provision as to claims (opens in a new tab)
Regulated
- Trustee must initial claim documents and return them if requestedTrustee
s.126
Adjudication of claims: general (opens in a new tab)
Regulated
Other duties (1) — Crown / regulator
- Trustee must accept or reject creditor claims and notify themStatutory regulator
s.129
Priority in distribution (opens in a new tab)
Regulated
- Distribute debtor's estate funds in statutory priority orderTrustee
s.130
Accounting periods (opens in a new tab)
Regulated
- Trustee must prepare accounts for each accounting periodTrustee
s.131
Distribution in accordance with accounting periods (opens in a new tab)
Regulated
- Trustee must distribute dividends from debtor's estate each accounting periodTrustee
s.132
Submission of accounts and scheme of division (opens in a new tab)
Regulated
Other duties (1) — Crown / regulator
- Trustee must submit accounts and scheme of division within 2 weeks of each accounting periodCrown / Minister / Government department
s.135
Further provision as to procedure after end of accounting period (opens in a new tab)
Regulated
- Pay dividends to creditors and deposit uncashed dividendsTrustee
s.136
Procedure after end of accounting period where Accountant in Bankruptcy is trustee (opens in a new tab)
Regulated
Other duties (1) — Crown / regulator
- Accountant in Bankruptcy must prepare accounts, determine fees, and pay dividends after each accounting periodStatutory regulator
s.147
Debtor fails to co-operate: Accountant in Bankruptcy appointment as new trustee
Regulated
Other duties (1) — Crown / regulator
- Apply to resign as trustee if debtor refuses to cooperateStatutory regulator
s.148
Discharge of trustee (opens in a new tab)
Regulated
- Complete final division and submit required documents to AiBTrustee
s.174
Deductions by virtue of protected trust deed from debtor's earnings (opens in a new tab)
Regulated
- Employers must make deductions from a debtor employee's earningsEmployer
228 other provisions — procedural and definitional
s.014
Main proceedings in Scotland: undertaking by trustee in respect of assets in another EU member State
s.014
Main proceedings in another member State: approval of undertaking offered by member State insolvency practitioner to local creditors in the UK
s.023
Effect of sequestration on land attachment
s.037
Interest
s.074
Election or appointment of new trustee by virtue of section 71(6) or 73(1) (opens in a new tab)
s.082
Property in respect of which receivership or administration order is made (opens in a new tab)
s.114
Protection of rights of spouse against arrangements intended to defeat them (opens in a new tab)
s.129
Section 129: interpretation
s.134
Appeal against determination as to outlays and remuneration payable to trustee (opens in a new tab)
s.147
Accountant in Bankruptcy appointment as new trustee: review and appeal
s.147
Debtor fails to co-operate with AiB as trustee
s.171
Removal of protected status where material error or irregularity
s.171
Decision under section 171A: application to review
s.171
Effect of removal of protected status
s.173
Effect of protected status on essential supplies
s.180
Information and notification obligations of trustee under protected trust deed (opens in a new tab)
s.184
Protected trust deed: refusal of debtor discharge
s.184
Protected trust deed: early discharge in extenuating circumstances
s.184
Early discharge in extenuating circumstances: procedure where creditors object
s.186
Replacement of trustee in a protected trust deed
s.186
Modification of this Part where Accountant in Bankruptcy becomes trustee in a protected trust deed
s.221
Outlays of insolvency practitioner in actings as interim trustee or trustee (opens in a new tab)
s.224
Service of documents
Schedules
Schedules
4 of 133 shown
s.sch002
(1) Subject to the provisions of this schedule, the amount...
Regulated
- Calculate creditor claims correctly in sequestrationTrader
s.sch002
(1) The amount which a creditor is entitled to claim...
Regulated
- Trustee must value contingent debts on creditor applicationTrustee
s.sch002
(1) Where a creditor claims, in respect of a debt...
Regulated
- Deduct estimated firm debt from claim against partner's estateTrader
s.sch006
A creditor must lodge with the trustee, before the commencement...
Regulated
- Lodge authorisation for representative with trustee before meetingTrader
129 other schedules
s.sch001
(1) Where section 2(2) applies in relation to a debtor,...
s.sch001
(1) This paragraph applies where paragraph 1 applies in relation...
s.sch001
(1) If AiB considers under paragraph 2(2) that paragraph 1...
s.sch001
(1) This paragraph applies where AiB gives notice to a...
s.sch001
(1) Where paragraph 1 ceases to have effect in relation...
s.sch002
(1) A person entitled to aliment, however arising, from a...
s.sch002
(1) A secured creditor, in calculating the amount of the...
s.sch003
Any sum which is owed by the debtor and is...
s.sch003
(1) For the purposes of paragraph 2, a sum is...
s.sch003
In paragraphs 2 and 3, “prescribed” means prescribed by regulations...
s.sch003
In paragraph 5, “the scheme manager” has the meaning given...
s.sch003
(1) In paragraphs 6 to 8, “eligible deposit” means a...
s.sch003
Regulations under paragraph 2 or 3 may contain such transitional...
s.sch003
(1) So much of any amount which—
s.sch003
So much of any amount which— (a) is ordered, whether...
s.sch003
Any sums due at the relevant date from the debtor...
s.sch003
Any debt owed by the debtor to the scheme manager...
s.sch003
So much of any amount owed at the relevant date...
s.sch003
So much of any amount owed at the relevant date...
s.sch003
An amount owed at the relevant date by the debtor...
s.sch003
(1) Any amount owed at the relevant date by the...
s.sch003
In Part 1, “the relevant date” means—
s.sch004
Whether or not— (a) provision is made in the trust...
s.sch004
AiB may, at any time, audit the trustee's accounts and...
s.sch004
(1) The trustee, from time to time after the trust...
s.sch004
The submission to the trustee, acting under a trust deed,...
s.sch004
(1) Unless the trust deed otherwise provides, schedule 2 applies...
s.sch005
A copy of the debtor application made under section 2(1)(a)....
s.sch005
A copy of an order under section 114(3)(b) or 115(3)(b)...
s.sch005
Where the trustee is a replacement trustee appointed under section...
s.sch005
Where the trustee is not AiB, a copy of a...
s.sch005
A copy of a notice given under section 44(3).
s.sch005
Where the trustee is not AiB, a copy of a...
s.sch005
Where the trustee is a replacement trustee appointed under section...
s.sch005
A copy of an initial proposal for the debtor's contribution...
s.sch005
A copy of a debtor contribution order applying to the...
s.sch005
A copy of a decree issued under section 98 affecting...
s.sch005
A copy of a decree of recall issued following an...
s.sch005
A copy of the petition presented under section 2(1)(b).
s.sch005
A copy of a decree under section 99 affecting the...
s.sch005
The inventory and valuation of the estate, made up and...
s.sch005
A copy of an account given by the debtor under...
s.sch005
The debtor's deposition at an examination subscribed under section 121(6)....
s.sch005
A copy of the record of an examination sent to...
s.sch005
An appropriate entry in relation to the production of any...
s.sch005
Where the trustee accepts or rejects a claim under section...
s.sch005
A copy of a decision of AiB under subsection (4)(b)...
s.sch005
An agreement or determination in respect of the accounting period...
s.sch005
Where the trustee is not AiB, the audited accounts, the...
s.sch005
Where the trustee is AiB, a copy of the statement...
s.sch005
A copy of the certificate of discharge given to the...
s.sch005
A copy of the certificate deferring discharge where the debtor...
s.sch005
Where AiB has acted as trustee, after making the final...
s.sch005
Where AiB has acted as trustee and is discharged from...
s.sch005
A decision of the court under section 211 and of...
s.sch005
A copy of a decree arbitral or, as the case...
s.sch005
The minutes of the meeting referred to in paragraphs 8...
s.sch005
A copy of the minutes of a meeting sent to...
s.sch005
Where a meeting of commissioners is called in accordance with...
s.sch005
A copy of any decision (including any determination, direction, award,...
s.sch005
A copy of the award of sequestration under section 22(1)...
s.sch005
A copy of any decree, interlocutory decree, direction or order...
s.sch005
A copy of the warrant to cite the debtor granted...
s.sch005
Where the trustee is not AiB— (a) the audited accounts...
s.sch005
Where the trustee is AiB— (a) the accounts audited by...
s.sch005
Where AiB is appointed interim trustee and the sheriff awards...
s.sch005
A copy of— (a) an order— (i) recalling or refusing...
s.sch006
The trustee in the sequestration must call a meeting of...
s.sch006
The trustee is to arrange for a record to be...
s.sch006
The trustee, a creditor or any other person having an...
s.sch006
No proceedings at a meeting are invalidated by reason only...
s.sch006
Every meeting must be held either— (a) in such place...
s.sch006
Where a meeting is to be held in pursuance of...
s.sch006
A creditor may authorise in writing a person to represent...
s.sch006
Any reference in paragraph 8, or in the following provisions...
s.sch006
The quorum at any meeting is one creditor.
s.sch006
Any question at a meeting is to be determined by...
s.sch006
At any meeting the person chairing it may allow or...
s.sch006
Any such meeting must be held not later than 28...
s.sch006
A person aggrieved by the determination of the person chairing...
s.sch006
If the person chairing the meeting is in doubt as...
s.sch006
If no creditor has appeared at a meeting by half...
s.sch006
The person chairing the meeting may, with the consent of...
s.sch006
Any adjourned meeting must be held at the same time...
s.sch006
The minutes of every meeting must be signed by the...
s.sch006
The trustee— (a) may call a meeting of commissioners at...
s.sch006
If the trustee fails to call a meeting of commissioners...
s.sch006
The trustee must give the commissioners at least 7 days'...
s.sch006
The trustee is to act as clerk at a meeting...
s.sch006
The trustee, or a commissioner who has given notice to...
s.sch006
If the commissioners are considering the performance of the functions...
s.sch006
The quorum at a meeting of commissioners is one commissioner...
s.sch006
Any matter may be agreed by the commissioners without a...
s.sch006
The trustee, calling a meeting under paragraph 1 or 3,...
s.sch006
Where— (a) a requirement has been made under paragraph 1,...
s.sch006
AiB, calling a meeting under paragraph 5, is no fewer...
s.sch006
It is not necessary to notify under paragraph 4 or...
s.sch006
At the commencement of a meeting the trustee is to...
s.sch006
If no person is elected in pursuance of paragraph 8,...
s.sch007
(1) Subject to sub-paragraph (2), all arrestments and attachments which...
s.sch007
Any— (a) conveyance, assignation, instrument, discharge, writing or deed relating...
s.sch008
In section 11A(2) of the Judicial Factors (Scotland) Act 1889...
s.sch008
In Part 2 of schedule 2 of the Legal Aid...
s.sch008
(1) The Debtors (Scotland) Act 1987 is amended as follows....
s.sch008
(1) The Agricultural Holdings (Scotland) Act 1991 is amended as...
s.sch008
In paragraph 10 of schedule 2 of the Crofters (Scotland)...
s.sch008
In paragraph 2(1)(j) of schedule 1 of the Proceeds of...
s.sch008
In paragraph 4 of schedule 1 of the Education (Scotland)...
s.sch008
In section 87(4) of the Adults with Incapacity (Scotland) Act...
s.sch008
(1) Schedule 6 of the International Criminal Court (Scotland) Act...
s.sch008
(1) The Debt Arrangement and Attachment (Scotland) Act 2002 is...
s.sch008
In section 93 of the Agricultural Holdings (Scotland) Act 2003...
s.sch008
In section 34 of the Sheriff Courts (Scotland) Act 1907...
s.sch008
In schedule 1A of the Fire (Scotland) Act 2005 (the...
s.sch008
In schedule 2B of the Further and Higher Education (Scotland)...
s.sch008
In section 70(3)(b) of the Charities and Trustee Investment (Scotland)...
s.sch008
In section 28(8) of the Licensing (Scotland) Act 2005 (period...
s.sch008
(1) The Bankruptcy and Diligence etc. (Scotland) Act 2007 is...
s.sch008
In section 73(2)(b) of the Criminal Proceedings etc. (Reform) (Scotland)...
s.sch008
(1) The Legal Services (Scotland) Act 2010 is amended as...
s.sch008
(1) The Housing (Scotland) Act 2010 is amended as follows....
s.sch008
In section 58(1) of the Food (Scotland) Act 2015 (general...
s.sch008
In section 44(4)(c) (limitation of effect of entries in the...
s.sch008
In section 47G of the Administration of Justice Act 1956...
s.sch008
In section 19(3) of the Conveyancing and Feudal Reform (Scotland)...
s.sch008
(1) The Prescription and Limitation (Scotland) Act 1973 is amended...
s.sch008
In section 31 of the Local Government (Scotland) Act 1973...
s.sch008
In section 73B(12) of the Education (Scotland) Act 1980 (regulations...
s.sch008
(1) The Family Law (Scotland) Act 1985 is amended as...
Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.