PART 14

Voluntary trust deeds for creditors

Administration, accounting and discharge

Directions to trustee under protected trust deed
179
1
AiB may give directions to the trustee under a protected trust deed as to how the trustee should conduct the administration of the trust.
2
On a direction being issued by virtue of subsection (1) its terms must be intimated to the debtor and to all known creditors.
3
The direction may be issued on the initiative of AiB or (at AiB's discretion) on the request of the trustee, the debtor or any creditor.
4
The trustee must, unless subsection (5) applies, comply with the direction within 30 days beginning with the day on which the direction is given.
5
Where the trustee has appealed under section 188(1)(c) and the appeal has been dismissed by the sheriff or withdrawn by the trustee, the trustee must comply with the direction within 30 days beginning with the day of dismissal or withdrawal.
6
If it appears to AiB that the trustee has failed, without reasonable excuse, to comply with the direction, AiB may report the matter to the sheriff who, after hearing the trustee on the matter, may—
a
censure the trustee, or
b
make such other order as the circumstances of the case require.
S. 179 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2