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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

4.4 Diligence

Granting a trust deed constitutes apparent insolvency. On protection of a trust deed, any earnings arrestment, current maintenance arrestment or conjoined arrestment order (subject to section 173(3) of the 2016 Act) ceases to have any effect. It is not competent for a creditor to execute and try and enforce an earnings arrestment or make a conjoined arrestment order, after the date of protection.

Section 173 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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