SCHEDULES

C1 SCHEDULE 5 Voluntary Trust Deeds for Creditors

Annotations:
Modifications etc. (not altering text)

Valuation of claims

4

Unless the trust deed otherwise provides, Schedule 1 to this Act shall apply in relation to a trust deed as it applies in relation to a sequestration but subject to the following modifications—

a

in paragraphs 1, 2 and 5 for the word “sequestration” wherever it occurs there shall be substituted the words “granting of the trust deed”;

b

in paragraph 3—

i

in sub-paragraph (2), for the words from the beginning of paragraph (a) to “or sheriff” there shall be substituted the words “the trustee”; and

ii

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c

paragraph 4 shall be omitted; and

d

F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .