Question reference: S4W-30304
- Asked by: John Pentland, MSP for Motherwell and Wishaw, Scottish Labour
- Date lodged: 3 March 2016
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Current status: Answered by Fergus Ewing on 15 March 2016
Question
To ask the Scottish Government whether it would take action against trustees who have not submitted accounts for a period in excess of the six months stipulated by the Bankruptcy and Debt Advice (Scotland) Act 2014 and, if so, how long it would wait before doing so.
Answer
The Accountant in Bankruptcy (AiB) is appointed by Scottish Ministers and authorised by law to supervise trustees of bankruptcies to ensure compliance with their statutory duties. The Bankruptcy (Scotland) Act 1985, as amended, makes provision for a trustee to obtain permission to waive the statutory timescale to submit accounts. This permission must be obtained in advance of submitting any accounts to the AiB for determination after the statutory timescale. The AiB will not determine a trustee’s accounts if they are submitted outwith a statutory timescale and this would result in the trustee being unable to draw their fees for work undertaken in the administration of the bankruptcy.