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The Home Owner and Debtor Protection (Scotland) Bill has been introduced into the Scottish Parliament. The bill may become an Act of the Scottish Parliament. The Bill's objectives are to amend the law regarding the enforcement of standard securities over residential property; to amend the Bankruptcy (Scotland) Act 1985 as regards the grounds on which a debtor may apply for sequestration, the types of voluntary trust deed to which the Act applies, the sale or disposal of a debtor’s family home and requirements to publish notices about sequestration in the Edinburgh Gazette; and for connected purposes.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...