Draft Regulations laid before the Scottish Parliament under section 72(2) of the Bankruptcy (Scotland) Act 1985 for approval by resolution of the Scottish Parliament.
2016 No. 
Insolvency
Bankruptcy
Debt

The Protected Trust Deeds (Scotland) Amendment Regulations 2016

Made2016
Coming into force
The Scottish Ministers make the following Regulations in exercise of the powers conferred by sections 72(1A) and paragraph 5 of schedule 5 of the Bankruptcy (Scotland) Act 19851 and all other powers enabling them to do so.
In accordance with sections 72(2) of that Act2, a draft of this instrument has been laid before and approved by resolution of the Scottish Parliament.

Citation and commencement1.

These Regulations may be cited as the Protected Trust Deeds (Scotland) Amendment Regulations 2016 and come into force on 30th November 2016.

Amendment of forms for trust deeds executed on or after 28th November 2013 but before 30th November 20162.

(1)

The Protected Trust Deeds (Scotland) Regulations 20133 are amended as follows.

(2)

In the schedule (forms to be used in connection with protected trust deeds)—

(a)

in column 2 of the table of forms4, for the entry for Form 4 substitute “Trustee’s annual statement report on protected trust deed management”; and

(b)

for—

(i)

Form 4 (trustee’s statement of status of a protected trust deed)5;

(ii)

Form 5 (application for discharge of debtor);

(iii)

Form 6 (application to creditors for discharge of the trustee of a protected trust deed)6; and

(iv)

Form 7 (trustee statement of realisation and distribution of estate under a protected trust deed)7,

substitute respectively Forms 4, 5, 6 and 7 set out in the schedule to these Regulations.

Name
Authorised to sign by the Scottish Ministers

St Andrew’s House,

Edinburgh

SCHEDULEForms to be used in connection with protected trust deeds

Regulation 2

EXPLANATORY NOTE
(This note is not part of the Regulations)

These Regulations amend Forms 4, 5, 6 and 7 used in relation to protected voluntary trust deeds entered into by debtors for the benefit of their creditors which were executed on or after 28th November 2013 but before 30th November 2016 prescribed in the Protected Trust Deeds (Scotland) Regulations 2013 (“the PTD Regulations”).

The PTD Regulations are revoked by schedule 9 of the Bankruptcy (Scotland) Act 2016, but continue to apply to these trust deeds under section 234(3) of that Act.

These Regulations make minor changes to Forms, 4, 5, 6 and 7 for trust deeds executed before 30th November 2016 to bring them into line with the forms for trust deeds executed on or after that date governed by the new Regulations made under Part 14 of the Bankruptcy (Scotland) Act 2016 (see section 162 of that Act) in the Protected Trust Deeds (Forms) (Scotland) Regulations 2016 (S.S.I. 2016/[ ]).

These changes do not apply to any trust deed granted before 28th November 2013 by virtue of regulation 31 of the PTD Regulations.

Regulation 26 of the PTD Regulations provides for the electronic delivery of notices or documents.

A Business and Regulatory Impact Assessment has been prepared for these Regulations. Copies can be obtained from the Accountant in Bankruptcy’s website: http://www.aib.gov.uk.