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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

3.1 Notice in Register of Insolvencies

After the debtor has delivered the trust deed to the trustee, the trustee must, without delay, submit to AiB, preferably utilising the electronic portal system (ASTRA), a completed Form 1 notice, as recorded in the Schedule to the Protected Trust Deeds (Forms) (Scotland) Regulations 2016, to be published by registration in the ROI.

Following the completion of the Form 1, please provide AiB with a copy of the Section 167(3)(c) statement as described in section 2.8 of this guidance.

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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