Bankruptcy (Scotland) Regulations 2016

The Bankruptcy (Scotland) Regulations 2016 govern the process of bankruptcy in Scotland. They outline how individuals can declare bankruptcy to manage overwhelming debts, providing a legal framework for dealing with financial difficulties. The regulations detail the roles of the Accountant in Bankruptcy, the procedures for applications, the treatment of assets, and how creditors are paid. They aim to ensure fair treatment for both debtors and creditors while supporting individuals seeking a fresh start financially. Overall, these regulations help establish a structured and transparent process for handling bankruptcy cases in Scotland.