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

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

1.1 Accountant in Bankruptcy

Accountant in Bankruptcy (The Accountant) is a statutory officer appointed by the Scottish Ministers under Section 1 of the Bankruptcy (Scotland) Act 2016 (the “2016 Act”).

The Accountant is independent as regards the exercise of their statutory functions, although their directions and determinations can generally be appealed to a sheriff. Scottish Ministers, after consultation with the Lord President of the Court of Session, may give the Accountant general directions as to the performance of their functions in relation to all bankruptcies and PTDs, but they may not give directions in respect of any particular case.

The Accountant may employ members of their staff to carry out administrative functions on their behalf. The Accountant’s staff will be referred to as AiB, throughout these notes.

The Accountant also provides Notes for Guidance - Bankruptcy. This document is an additional set of notes dealing specifically with matters affecting trustees under PTDs.

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