PART 14

Voluntary trust deeds for creditors

Conditions for protected status

Protected status: the debtor
164
1
The debtor must be—
a
a living individual who,
b
a partnership which,
c
a limited partnership (within the meaning of the Limited Partnerships Act 1907) which,
d
a trust which,
e
a corporate body which, or
f
an unincorporated body which,
grants a trust deed for a single estate.
2
The debtor must not be—
a
a debtor whose estate has been sequestrated if the trustee in the sequestration has not been discharged under section 148 or 151, or
b
an entity referred to in section 6(2).
3
The total amount of the debtor's debts (including interest) as at the date on which the debtor grants the trust deed must be not less than £5,000.
S. 164 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2