During 2016 the Scottish Government began a series of legislative reviews to determine if changes introduced to the Debt Arrangement Scheme (DAS) and Protected Trust Deeds (PTDs) in recent years had met their intended outcome. As part of this review two DAS and a PTD consultation were carried out.
The first phase of the DAS review has been completed, with the introduction of the regulations that came into force on 29 October 2018. This introduced measures to facilitate improved access and greater flexibility in the operation of the scheme. The second phase is under way, through the publication of DAS Consultation 2018 – Building a Better Debt Arrangement Scheme.
The Scottish Government is now picking up on the 2016 PTD consultation, building on the responses received and considering alongside further detailed statistical analysis and stakeholder discussions that have since taken place regarding possible reforms aimed at improving the operational framework for PTDs. As a direct result of feedback from stakeholders we have now identified some proposed legislative options that aim to address concerns raised and enhance the effectiveness of PTDs through greater transparency and fairness.
if you have any questions or require any clarification of terms please contact Fiona Henry at the AiB Policy Development Team.