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Accountant In Bankruptcy
The Accountant in Bankruptcy (AiB) is the Scottish government agency responsible for administering the process of personal bankruptcy and corporate insolvency, administering the Debt Arrangement Scheme (DAS), and implementing, monitoring and reviewing government policy in these and related areas, for example protected trust deeds and diligence. It reports to the Scottish Government's Minister for Business, Fair Work and Skills, who is Jamie Hepburn . The agency is based in Pennyburn Road, Kilwinning, Ayrshire. See also * Court of Session * Diligence (Scots law) * Reconstruction (law) * Sequestration (law) * Scheme of arrangement * Institute of Chartered Accountants of Scotland * Insolvency Practitioners Association * Debtors (Scotland) Act 1838 The Debtors (Scotland) Act 1838 (1 & 2 Vict. c. 114), sometimes the Personal Diligence Act, was an Act of Parliament in the United Kingdom, signed into law on 16 August 1838. It amended the law of Scotland in matters relating to pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scotland
Scotland (, ) is a country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a border with England to the southeast and is otherwise surrounded by the Atlantic Ocean to the north and west, the North Sea to the northeast and east, and the Irish Sea to the south. It also contains more than 790 islands, principally in the archipelagos of the Hebrides and the Northern Isles. Most of the population, including the capital Edinburgh, is concentrated in the Central Belt—the plain between the Scottish Highlands and the Southern Uplands—in the Scottish Lowlands. Scotland is divided into 32 administrative subdivisions or local authorities, known as council areas. Glasgow City is the largest council area in terms of population, with Highland being the largest in terms of area. Limited self-governing power, covering matters such as education, social services and roads and transportation, is devolved from the Scott ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Session
The Court of Session is the supreme civil court of Scotland and constitutes part of the College of Justice; the supreme criminal court of Scotland is the High Court of Justiciary. The Court of Session sits in Parliament House in Edinburgh and is both a trial court and a court of appeal. Decisions of the court can be appealed to the Supreme Court of the United Kingdom, with the permission of either the Inner House or the Supreme Court. The Court of Session and the local sheriff courts of Scotland have concurrent jurisdiction for all cases with a monetary value in excess of ; the plaintiff is given first choice of court. However, the majority of complex, important, or high value cases are brought in the Court of Session. Cases can be remitted to the Court of Session from the sheriff courts, including the Sheriff Personal Injury Court, at the request of the presiding sheriff. Legal aid, administered by the Scottish Legal Aid Board, is available to persons with little dis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scots Law
Scots law () is the legal system of Scotland. It is a hybrid or mixed legal system containing civil law and common law elements, that traces its roots to a number of different historical sources. Together with English law and Northern Ireland law, it is one of the three legal systems of the United Kingdom.Stair, General Legal Concepts (Reissue), para. 4 (Online) Retrieved 2011-11-29 Early Scots law before the 12th century consisted of the different legal traditions of the various cultural groups who inhabited the country at the time, the Gaels in most of the country, with the Britons and Anglo-Saxons in some districts south of the Forth and with the Norse in the islands and north of the River Oykel. The introduction of feudalism from the 12th century and the expansion of the Kingdom of Scotland established the modern roots of Scots law, which was gradually influenced by other, especially Anglo-Norman and continental legal traditions. Although there was some indirect Roman la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debtors (Scotland) Act 1838
The Debtors (Scotland) Act 1838 (1 & 2 Vict. c. 114), sometimes the Personal Diligence Act, was an Act of Parliament in the United Kingdom, signed into law on 16 August 1838. It amended the law of Scotland in matters relating to personal diligence Diligence—carefulness and persistent effort or work—is one of the seven heavenly virtues. It is indicative of a work ethic, the belief that work is good in itself. In students Bernard et al. suggest that diligence in students is define ... - the ways in which the person or property of a debtor could be secured - arrestments and poindings (pronounced pindings). The effect was to simplify the form of proceedings and reduce their expense. References *''The British almanac of the Society for the Diffusion of Useful Knowledge, for the year 1839''. The Society for the Diffusion of Useful Knowledge, London, 1839. External links * * 1838 in Scotland Acts of the Parliament of the United Kingdom concerning Scotland United Ki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency Practitioners Association
The Insolvency Practitioners Association (IPA) is a professional body whose purpose is to inform and regulate insolvency practitioners (IPs) within the UK and Ireland. There is a similar organisation in Australia. History Formed in 1961 as a discussion group of accountants specialising in insolvency, it became incorporated under its current name in 1973. It became a Recognised Professional Body under the UK Insolvency Act 1986, empowered to grant and renew insolvency licences. It is the only such body whose membership is composed solely of IPs. Its members act as trustees in bankruptcy, nominees and supervisors of individual voluntary arrangements, liquidators, administrators and administrative receivers of companies. Objectives The IPA's main objectives are to encourage recruitment of IPs; to promote their training and education; to maintain and improve standards of performance and conduct, and to regulate and monitor its members' practices, and, where appropriate, discipl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute Of Chartered Accountants Of Scotland
The Institute of Chartered Accountants of Scotland (ICAS) is the world's first professional body of Chartered Accountants (CAs). It is a regulator, educator, influencer and thought leader. ICAS act as a thought leader and voice of the professional business community. Although other British accounting bodies use the title Chartered Accountant, the CA designation is unique to ICAS in the UK. ICAS has more than 21,000 members and students worldwide. ICAS provides support, advice and services to its CAs throughout their professional lives. ICAS members are business advisors, business leaders and entrepreneurs. They play leading roles in 80% of the FTSE 100 companies. Half of ICAS members are based in Scotland; the other half work in England and around the globe.{{cite web, title=About ICAS, url=http://www.scottish.parliament.uk/s4/committees/eet/inquiries/ScotlandBill/documents/ICAS.pdf, work=Submission from ICAS on Corporation Tax Reform, publisher=Scottish Parliament, access-date ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scheme Of Arrangement
A scheme of arrangement (or a "scheme of reconstruction") is a court-approved agreement between a company and its shareholders or creditors (e.g. lenders or debenture holders). It may affect mergers and amalgamations and may alter shareholder or creditor rights. Schemes of arrangement are used to execute arbitrary changes in the structure of a business and thus are used when a reorganisation cannot be achieved by other means. They may be used for rescheduling debt, for takeovers, and for returns of capital, among other purposes. It is not a formal insolvency procedure, but it can be used alongside insolvency procedures such as administration. By country Australia In Australia, the relevant provisions for effecting a scheme of arrangement or reconstruction are located in Part 5.1 of the Corporations Act 2001 (Cth). Section 411(1) states that where a company and its creditors or shareholders propose a compromise or arrangement, the court can order a meeting or the creditors ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sequestration (law)
In law, sequestration is the act of removing, separating, or seizing anything from the possession of its owner under process of law for the benefit of creditors or the state. Etymology The Latin ''sequestrare'', to set aside or surrender, a late use, is derived from sequester, a depositary or trustee, one in whose hands a thing in dispute was placed until the dispute was settled; this was a term of Roman jurisprudence (cf. ''Digest L.'' 16,110). By derivation it must be connected with ''sequi'', to follow; possibly the development in meaning may be follower, attendant, intermediary, hence trustee. In English "sequestered" means merely secluded, withdrawn. England In law, the term "sequestration" has many applications; thus it is applied to the act of a belligerent power which seizes the debts due from its own subject to the enemy power; to a writ directed to persons, "sequestrators," to enter on the property of the defendant and seize the goods. Church of England There are also t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reconstruction (law)
{{distinguish, Restructuring Reconstruction, in law, is the transfer of a company's (or several companies') business to a new company. The old company will get put into liquidation, and shareholders will agree to take shares of equivalent value in the new company. In UK company law, the governing provisions are in the Insolvency Act 1986, ss. 110–111. The sanction of a court is not required (unlike under a so-called "scheme of arrangement", which could or creditors). Yet if a shareholder objects, he or she may require a cash payment instead of shares. Creditors who object to have their debts transferred to a new company can demand satisfactions during the old company's liquidation. Small private companies, family companies and investment trusts often use the procedure. The purposes can vary, from changing the objects of the business, varying share class rights, or reorganize before a demerger takes place. See also * Bankruptcy * Mergers and acquisitions References * Len Se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diligence (Scots Law)
Diligence is a term in Scots Law with no single definition, but is commonly used to describe debt collection and debt recovery proceedings against a debtor by a creditor in Scottish courts. The law of diligence is part of the law of actions in Scots private law. Accordingly, it is within the devolved competence of the Scottish Parliament. Diligence is usually executed by Sheriff Court officers, but may also be carried out by Messengers-at-arms. There are many forms of diligence, largely involving creditors and debtors. The newest form of diligence, ''land attachment'', will be introduced into Scots law when Part 4 of the Bankruptcy and Diligence (Scotland) Act 2007 is brought into force. Definition of Diligence Diligence has no single definition in Scots law, but it is recognised that there were at least four broad forms of 'diligence' proceedings.Scottish Law Commission, ''Report on Diligence and Debtor Protection'', (Scot Law Com No 95), (1985), page 6. These include: * D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister For Business, Fair Work And Skills
The Minister for Business, Trade, Tourism and Enterprise is a Junior ministerial post in the Scottish Government. As a result, the Minister does not attend ''Only those appointed under Section 47 of the Scotland Act "attend" Cabinet. Junior ministers are appointed under Section 49 and may be "present".'' the Scottish Cabinet. The post was retitled in June 2018: the Minister supports the Cabinet Secretary for Finance, Economy and Fair Work and the |
Kilwinning
Kilwinning (, sco, Kilwinnin; gd, Cill D’Fhinnein) is a town in North Ayrshire, Scotland. It is on the River Garnock, north of Irvine, about southwest of Glasgow. It is known as "The Crossroads of Ayrshire". Kilwinning was also a Civil Parish. The 2001 Census recorded the town as having a population of 15,908. The estimated population in 2016 was 16,460. History According to John Hay, once the headmaster of the parish school in Kilwinning, " North Ayrshire has a history of religion stretching back to the very beginning of missionary enterprise in Scotland. The Celtic Christians or Culdees of the period of St Columba and St Mungo found here, in this part of Scotland, a fertile field for the propagation of the faith. Kilmarnock, Kilbride, Kilbirnie, are all, like Kilwinning, verbal evidence of the existence of 'Cillean' or cells of the Culdee or Celtic Church." In the distant past, the town was called Sagtoun, or Saint's Town, after St. Winning, the founder of an ear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
