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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

10.3 Effect of discharge

The discharge of the trustee releases them from any liability to the creditors in respect of any act or omission in exercising the functions conferred on them by the 1985 Act and the 2016 Act, except for a liability arising from fraud. 

The effect of discharge extends to any previous trustee of the PTD unless there is a contrary ruling to the contrary from a sheriff.

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