Common Financial Tool (Scotland) Regulations 2018 [draft]

The Regulations were originally laid on 15 June. 

At its meeting on 26 June, the Committee agreed to write to stakeholders requesting a copy of the responses that they made to the Accountant In Bankruptcy's consultation and any further comments that they had. The responses received can be found here.

The instrument was withdrawn on 10 August 2018. The reason given was that some advice sector organisations were seeking a longer lead-in time.

The Regulations were relaid on 19 September 2018. 

The only change between the relaid Regulations and the original was the date of commencement. The Committee received additional evidence from the Money Advice Service and StepChange Scotland.

The Committee took evidence from Money Advice Scotland; the R3 Scottish Technical Committee; ICAS, and Money Advice Service at its meeting on 30 October 2018

On 5 November, the Committee received a letter from Dr Richard Dennis, the Accountant in Bankruptcy.

At its meeting on 6 November the Committee took evidence from Alan McIntosh; Aberdeen City Council; East Renfrewshire Council, and WRI Associates. At the meeting, the Committee asked the witnesses to submit their recommendations concerning a potential review of the Common Financial Tool. We have received the following submissions:

On 8 November, the Money Advice Service responded to the evidence sessions.

On 7 November, the Convener wrote to the Minister for Business, Fair Work and Skills to highlight the Committee’s significant reservations about the above regulations. The Minister replied on 9 November withdrawing the instrument.

On 9 November, the Minister for Business, Fair Work and Skills wrote to the Presiding Officer to withdraw the instrument. The Committee also received a response from the Accountant in Bankruptcy wrote to the Committee.


On 21 November, the Committee wrote to the Minister for Business, Fair Work and Skills to request further details regarding the Minister's response of 9 November. The Minister responded on 27 November.

At its meeting on 11 December the Committee took evidence from Minister for Business, Fair Work and Skills, Richard Dennis, the Accountant in Bankruptcy and John Cook, Depute Accountant in Bankruptcy.

The Committee wrote to the Minister for Business, Fair Work and Skills on 13 December 2018.

The Minister responded on 20 December 2018.

The Money Advice Service wrote to the Committee on 31 December 2018 regarding our letter to the Minister.

The Committee wrote to the Minister for Business, Fair Work and Skills on 10 January 2019.

The Committee reported on 28 January 2019

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