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Accountant in Bankruptcy
Publication - Notes for Guidance

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

First published
30 November 2016
Last updated
8 July 2026 - 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

2.9 Liabilities

The debtor must provide information about their debts. Prior to the trust deed being granted, the trustee is required to take reasonable steps to assess the debtor’s current total liability and confirm they exceed £5,000. The trustee should also obtain the contact details of all creditors prior to the initial circular being issued to creditors.

Debtors should be advised that they must disclose details of all their creditors and that a notice will be recorded in the public Register of Insolvencies (ROI), which brings the trust deed to the attention of any other creditors. The debtor should be advised that any member of the public will be able to view these details.

First published
Wednesday, 30 November 2016
Last updated
Wednesday, 8 July 2026 -
All updates

  1. update to 9.2 Discharge due to extenuating circumstances

  2. e-mail addresses updated to reflect delivery branch restructure.

  3. Section 8.5 - typographical error updated

  4. changes made to section 2 to reflect the policy changes from 20 January 2025.

  5. amendment to section 6.8 Increasing the trustee’s fixed fee.

  6. addition of section 2.5 - Trust deed information leaflet and adequate time, effective from 20 January 2025.

  7. Updated to take into account The Protected Trust Deeds (Miscellaneous Amendment) (Scotland) Regulations 2024 which came into force on the 1st July 2024. New additions to the guidance includes: Removal of protected status of a trust deed and a review process, Debtor discharge due to extenuating circumstances prior to the 48 month minimum term and Trustee refusal of debtor discharge process, previously part of the PTD Protocol, now in legislation for all trustees to follow

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

  9. Supporting document published on website

  10. Published on website

  11. Amended - PTD Protocol

  12. Amended

  13. First published

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