PTD Bulletin - Autumn 2024

PTD Regulation Amendments 2024

New regulation amendments came into force on the 1 July 2024. Please ensure that you amend any letter templates to refer accurately to the legislation and timescales.

For example, should any of your circulars refer to interim dividends, ensure that you are quoting your first intention to pay a dividend after 12 months and every 3 months thereafter, as now required.

Please also ensure that you are using the updated version of the Form 5. A template can be requested from the team mailbox.

Form 4s Supervision and Circulars

The team have started a new supervision exercise monitoring the legislative requirements of annual reports, the information presented to both AiB and creditors, as well as fees and outlays. During this time, you may receive feedback or queries from the team.

We kindly request that all trustees upload the full Form 4 circular issued to creditors to ASTRA. This will not only help the team with their supervision exercise, but it will also ensure that registered creditors receive the same information as non-registered creditors.

If the full circular is not attached on ASTRA, the team will request a copy from the trustee. To avoid any inconvenience, please upload a copy at the time of submitting the Form 4 on ASTRA.

Retention and Destruction Policy

The Digital Transformation team have completed a retention and destruction exercise on ASTRA. This was carried out to remove any PTD information or documents that are no longer required. This exercise will now be regularly performed on ASTRA and completed automatically. As a result, the team may no longer have access to PTD information and documents following trustee discharge.

One of the most common requests AiB receive from debtors is for a copy of their signed trust deed and Form 5 confirming discharge from the PTD. Please ensure that the debtor receives a copy of their relevant documents as well as Form 5 and is informed to retain a copy for their records.