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Accountant in Bankruptcy

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Publication - Notes for Guidance

Notes for Guidance - Protected Trust Deeds - Bankruptcy (Scotland) Act 2016

First published
30 November 2016
Last updated
19 April 2024 - see all updates
Topic
Protected Trust Deeds

This guidance describes the general functions of Accountant in Bankruptcy and trustees in relation to their responsibilities regarding protected trust deeds (PTDs) which were granted on or after 30 November 2016

Supporting documents

2.5 Debt Advice and Information Package

Before a trust deed is granted the insolvency practitioner must provide the debtor with a copy of the Debt Advice and Information Package which is referred to in section 10(5) of the Debt Arrangement and Attachment (Scotland) Act 2002.

Before agreeing to be appointed as the trustee of a trust deed, the trustee must be satisfied that a trust deed will benefit the debtor’s creditors in general. Section 228(1) of the 2016 Act refers.

First published
Wednesday, 30 November 2016
Last updated
Friday, 19 April 2024 -
All updates

  1. Update to section 5.1 - Contributions to reflect recent change to Common Financial Statement registration.

  2. Supporting document published on website

  3. Published on website

  4. Amended - PTD Protocol

  5. Amended

  6. First published

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