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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
12 May 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

Notes for Guidance of Trustees under Protected Trust Deeds

This guidance describes the general functions of the Accountant in Bankruptcy and trustees in relation to their responsibilities regarding protected trust deeds (PTDs) which were granted on or after 30 November 2016.

It also contains details of the legislation that applies to PTDs and provides details for trustees and their third party agents, of the processes and procedures that the Accountant in Bankruptcy considers should be applied during the administration of PTDs.

This guidance was first published on 30 November 2016.

Section 6.6 of these notes only applies to trust deeds granted on or after 1 July 2024. The legacy arrangements still apply to those protected before this date with the exception of protocol compliant trust deeds.

First published
Wednesday, 30 November 2016
Last updated
Monday, 12 May 2025 -
All updates

  1. Section 8.5 - typographical error updated

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

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

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

  5. 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

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

  7. Supporting document published on website

  8. Published on website

  9. Amended - PTD Protocol

  10. Amended

  11. First published

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