§ Mrs. Margaret EwingTo ask the Chancellor of the Duchy of Lancaster if he will list regulations made under section 74(7) of the Bankruptcy (Scotland) Act 1985; and what plans he has to extend such definition.
§ Mr. MaudeRegulations made under section 74(7) of the Bankruptcy (Scotland) Act 1985 are set out in regulation 11 of the Bankruptcy (Scotland) Regulations 1985 (SI 1985 No. 1925 (s147)). There are no current plans to extend the definition.
§ Mrs. Margaret EwingTo ask the Chancellor of the Duchy of Lancaster if he will consider legislation to introduce one period applicable to gratuitous alienation to an associate of the debtor or other parties in terms of section 34(3) of the Bankruptcy (Scotland) Act 1985.
§ Mr. MaudeNo such legislation is considered necessary at present.
An associate of a person who has subsequently been bankrupt would have been in a better position than any other person to judge the bankrupt's financial circumstances when the alienation took place. To be fair and just, an alienation in favour of an associate should continue to be challengeable if it was effected five years before the date of sequestration of the bankrupt's estate while an alienation in favour of any other person should be challengeable if it was effected two years before the date of sequestration.