Section 73M – Notice of objection
(1) Where section 73J of this Act applies—
(a) the debtor;
(b) the arrestee; or
(c) a third party,
may, by notice of objection, apply to the sheriff for an order recalling or restricting the arrestment.
(2) The notice of objection referred to in subsection (1) above shall—
(a) be in (or as nearly as may be in) the form prescribed by Act of Sederunt;
(b) be given to the persons mentioned in subsection (3) below before the expiry of the period of 4 weeks beginning with the date of service of a copy of the final decree under section 73C(2) of this Act or, as the case may be, the date of service of the schedule of arrestment; and
(c) specify one or more of the grounds of objection mentioned in subsection (4) below.
(3) The persons referred to in subsection (2)(b) above are—
(a) the creditor;
(b) the sheriff clerk;
(c) the debtor or, as the case may be, the arrestee; an
(d) in so far as known to the person objecting, any third party.
(4) The grounds of objection referred to in subsection (2)(c) above are—
(a) the warrant in execution of which the arrestment was executed is invalid;
(b) the arrestment has been executed incompetently or irregularly;
(c) the funds attached are due to the third party solely or in common with the debtor.
(5) Where a person applies by notice of objection under subsection (1) above, that person may not, subject to subsection (6) below, raise—
(a) an action of multiplepoinding; or
(b) subject to subsection (7) below, any other proceedings,
in relation to the funds attached.
(6) Subsection (5) above is without prejudice to the right of the person—
(a) to enter any such action or proceedings raised by any other person; and
(b) to raise such an action or proceedings where the sheriff makes, under section 73N(5) of this Act, an order sisting the proceedings on the objection.
(7) A debtor who applies by notice of objection under subsection (1) above may apply to the sheriff under section 73Q (2) of this Act and, in such a case, the sheriff may deal with both applications at one hearing.
Section 73N – Hearings following notice of objection
(1) Subject to subsection (5) below, before the expiry of the period of 8 weeks beginning with the day on which an application by notice of objection is made under section 73M(1) of this Act, the sheriff shall hold a hearing to determine the objection.
(2) At the hearing under subsection (1) above, the sheriff shall not make any order without first giving—
(a) the creditor;
(b) the arrestee;
(c) the debtor; and
(d) any third party,
an opportunity to be heard.
(3) Where the sheriff upholds the objection, the sheriff may make an order recalling or restricting the arrestment.
(4) Where the sheriff rejects the objection, the sheriff may make an order requiring a sum determined in the order to be released to the creditor—
(a) in a case where the period mentioned in section 73J(3) of this Act has not expired, on the expiry of that period; or
(b) in any other case, as soon as reasonably practicable after the date on which the order is made
(a) the sheriff is satisfied that it is more appropriate for the matters raised at the hearing to be dealt with by—
(i) an action of multiplepoinding; or
(ii) other proceedings,
raised in relation to the funds attached; or
(b) at any time before a decision is made under subsections (3) or (4) above, such an action is or other proceedings are raised,
the sheriff shall make an order sisting the proceedings on the objection.
(6) The sheriff may make such other order as the sheriff thinks fit.
(7) Where the sheriff makes an order under this section, the sheriff shall order the person who objected to intimate that order to such of the persons mentioned in subsection (2) above as the sheriff thinks fit.
(8) A person aggrieved by a decision of the sheriff under this section may, before the expiry of the period of 14 days beginning with the day on which the decision is made, appeal, on point of law only, to the sheriff principal, whose decision shall be final.