Regulation 10 Amendment of the Protected Trust Deeds (Scotland) Regulations 2008

after paragraph (1), insert—

“(1A)

Either of the following is not to be treated as a failure to meet the debtor’s obligations for the purpose of paragraph (1)(a):—

(a)

a refusal by the debtor to consent to the sale of the debtor’s dwellinghouse which is excluded from a trust deed in accordance with section 5(4A)(b) of the Act; or

(b)

a refusal to give a relevant consent in terms of section 40(1)(a) of the Act.”; and

for paragraph (2), substitute—

“(2)

A letter of discharge does not—

(a)

discharge the debtor from any liability arising after the date on which the trust deed was granted;

(b)

discharge the debtor from any liability for any debt which would be excluded from a discharge under section 55(2) of the Act;

(c)

discharge the debtor from any liability for any debt in respect of which a security is held where the secured creditor consented in terms of regulation 5A(c);

(d)

affect the rights of secured creditors.”.