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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
15 January 2025 - 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 Trust deed information document

From the 20 January 2025, before a trust deed is granted, the insolvency practitioner must provide the debtor with the trust deed information document which is referred to in Section 167(3)(b) of the Bankruptcy (Scotland) Act 2016. This can be found on the AiB website or by contacting the trust deed team.

First published
Wednesday, 30 November 2016
Last updated
Wednesday, 15 January 2025 -
All updates

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

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

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

  4. 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

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

  6. Supporting document published on website

  7. Published on website

  8. Amended - PTD Protocol

  9. Amended

  10. First published

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