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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


3.5 Date of protection

On receipt of every document which the trustee must send to AiB, AiB will consider if:

  • the conditions set out in section 164 to 170 of the 2016 Act have been met
  • the debtor’s recorded income and expenditure is appropriate, having regard to the Common Financial Statement and any explanation that has been given by the trustee, as to how and why an income and/or expenditure figure has been determined

If AiB is satisfied that all the required conditions have been met, the AiB will register the trust deed in the ROI.

A trust deed shall have protected status from the date that the trust deed is registered by AiB in the ROI.

If AiB is not satisfied that a trust deed meets all the conditions for protection, the trust deed will not be registered in the ROI and therefore, not protected. 

AiB will notify the trustee of the decision to registration of the trust deed in the ROI, giving the reason(s) why the trust deed will not be protected. AiB will notify this decision within 7 days of receiving all relevant information from the trustee.

It is the responsibility of the trustee to inform the debtor and all known creditors of AiB’s decision to either; register and protect the trust deed, or to refuse to protect the trust deed. This must be completed within 7 days of receipt of AiB’s decision.

The trustee, debtor and/or creditors may appeal to the sheriff AiB’s decision to refuse to protect a trust deed where that decision has been on the grounds that the Accountant is not satisfied that the expenditure allowed or the contribution from income is appropriate.

If on appeal under section 188(1)(a), a sheriff rules that the trust deed does meet the conditions for protection, the Accountant will register the trust deed in the ROI, with effect from the date the trust deed was first presented to the Accountant for registration, or a date specified by the sheriff.

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