Petitions for sequestration
6Sequestration of other estates
1
Subject to subsection (2) below, the estate belonging to or held for or jointly by the members of any of the following entities may be sequestrated—
a
a trust in respect of debts incurred by it;
b
a partnership, including a dissolved partnership;
c
a body corporate or an unincorporated body ;
d
a limited partnership (including a dissolved partnership) within the meaning of the [1907 c. 24.] Limited Partnerships Act 1907.
2
It shall not be competent to sequestrate the estate of any of the following entities—
a
a company registered under the [1985 c. 6.] Companies Act 1985 or under the former Companies Acts (within the meaning of that Act); or
b
an entity in respect of which an enactment provides, expressly or by implication, that sequestration is incompetent.
3
The sequestration of a trust estate in respect of debts incurred by the trust shall be on the petition of—
a
a majority of the trustees, with the concurrence of a qualified creditor or qualified creditors ; or
b
a qualified creditor or qualified creditors, if the trustees as such are apparently insolvent.
4
The sequestration of the estate of a partnership shall be on the petition of—
a
the partnership, with the concurrence of a qualified creditor or qualified creditors ; or
b
a qualified creditor or qualified creditors, if the partnership is apparently insolvent.
5
A petition under subsection (4)(b) above may be combined with a petition for the sequestration of the estate of any of the partners as an individual where that individual is apparently insolvent.
6
The sequestration of the estate of a body corporate or of an unincorporated body shall be on the petition of—
a
a person authorised to act on behalf of the body, with the concurrence of a qualified creditor or qualified creditors; or
b
a qualified creditor or qualified creditors, if the body is apparently insolvent.
7
The application of this Act to the sequestration of the estate of a limited partnership shall be subject to such modifications as may be prescribed.
8
Subsections (6) and (8) of section 5 of this Act shall apply for the purposes of this section as they apply for the purposes of that section.