2016 No. 398
The Protected Trust Deeds (Forms) (Scotland) Regulations 2016
Made
Coming into force
The Scottish Ministers make the following Regulations in exercise of the powers conferred by sections 166(2)(b) and (c), 169, 170(1)(b) and (e), 174(2) and (3), 175(1), 181(2), 183(1)(a) and (b), 184(1)(b) and (2)(a), 186(3) and (9), 194(1) and (3) and 225(2) of the Bankruptcy (Scotland) Act 20161 and all other powers enabling them to do so.
In accordance with section 225(4)(a) of that Act, a draft of this instrument has been laid before and approved by resolution of the Scottish Parliament.
Citation, commencement and interpretation1
1
These Regulations may be cited as the Protected Trust Deeds (Forms) (Scotland) Regulations 2016 and come into force on 30th November 2016.
2
In these Regulations “the Act” means the Bankruptcy (Scotland) Act 2016.
Forms2
1
The forms set out in the schedule are prescribed for the purposes of the provisions of the Act referred to in the third column of the table in the schedule.
2
In section 170(1)(d)(ii) of the Act (documents to be sent to creditors), for “style and format of the Common Financial Statement” substitute “form prescribed for that purpose by the Protected Trust Deeds (Forms) (Scotland) Regulations 20162”.
3
The definition of “the Common Financial Statement” in section 193 of the Act (interpretation of Part 14 of the Act: voluntary trust deeds for creditors) is repealed.
4
At the end of section 171(1) of the Act (registration for protected status), insert—
i
a statement by the trustee, in the form prescribed for that purpose in the Protected Trust Deeds (Forms) (Scotland) Regulations 20163, that—
i
the documents and statements required under paragraphs (a) to (h) of this subsection accompany the statement, and
ii
the conditions set out in sections 164 to 170 have been met
SCHEDULEList of forms to be used in connection with protected trust deeds
Form | Purpose | Relevant provision of the Act |
|---|---|---|
1 | Notice in the register of insolvencies by trustee under a trust deed for the benefit of creditor | Section 169 |
1A | Consents required for exclusion of a secured creditor from a protected trust deed | Section 166(2)(b) and (c) |
1B | Agreement in respect of heritable property | Section 175 |
2 | Statement of claim by creditors in a trust deed | Section 170(1)(b) |
2A | Income and Expenditure | Section 170(1)(d)(ii) |
3 | Trust deed protection proposal and trustee’s application | Section 170(1)(e) and (i) and section 183(1)(a) and (b) |
4 | Trustee’s annual statement report on protected trust deed management | Section 181(2) |
4A | Employee’s payment instruction to employer | Section 174(2) |
4B | Trustee’s payment instruction to employer | Section 174(3) |
4C | Payment variation instruction to employer | Section 174(2) and (4) |
5 | Application for discharge of debtor | Section 184(1)(b) and (2)(a) |
6 | Application to creditors for discharge of the trustee of a protected trust deed | Section 186(2) and (3) |
7 | Trustee statement of realisation and distribution of estate under a protected trust deed | Section 186(8) and (9) |
(This note is not part of the Regulations)