What its position is on extending the six-week moratorium on diligence under the Debt Arrangement Scheme.

The Bankruptcy and Debt Advice (Scotland) Act 2014 (the Act) comes into force on 1 April 2015 and introduces a moratorium on diligence for persons considering access to any Scottish Statutory Debt solution. These include the Debt Arrangement Scheme, Protected Trust Deeds and bankruptcy. The Act provides for a moratorium period of six weeks. However this six week period can be extended, in prescribed circumstances, to allow for any application received and in progress to be approved or rejected.
The Accountant in Bankruptcy (AiB) is willing to consider ideas for improvements to the Debt Arrangement Scheme, however there are no immediate plans to introduce a further extension to the moratorium period, the length of which was supported by the majority of stakeholders who responded to AiB’s consultation on bankruptcy reform.