The Bankruptcy (Scotland) Amendment Regulations 2024
These Regulations amend the prescribed rate of interest that applies to a claim in sequestration for the purposes of section 129(10) of the Bankruptcy (Scotland) Act 2016. The Regulations amend regulation 26 of the Bankruptcy (Scotland) Regulations 2016, which is where the existing rate of interest is specified. The new rate of interest is the Bank of England base rate which applies on the date of sequestration, plus an additional 2%.