Unless the trust deed otherwise provides, schedule 2 applies in relation to a trust deed as it applies to a sequestration but subject to the following modifications.

In paragraphs 1, 2 and 4, for the word “sequestration”, wherever it occurs, there is substituted “ granting of the trust deed ”.

In paragraph 3(3), for paragraphs (a) and (b) and the words “the trustee or sheriff” which immediately follow paragraph (b) there is substituted “the trustee”.