# The Protected Trust Deeds (Scotland) Amendment Regulations 2010, Regulation 4: Amendment of the Protected Trust Deeds (Scotland) Regulations 2008


After regulation 5 (qualifications of trustee), insert—
“Exclusion of a secured creditor
5A. Where a secured creditor is excluded from a trust deed under section 5(4A)(b)(ii) of the Act, prior to the debtor granting the trust deed—
(a) the trustee must provide the debtor and the secured creditor with a valuation made by a third party of the debtor’s dwellinghouse (or part thereof) which is to be excluded from the trust deed under section 5(4A)(b)(i) of the Act;
(b) the debtor must consent in terms of Part 1 of Form A1 set out in Schedule 1 to these Regulations; and
(c) the secured creditor must consent in terms of Part 2 of Form A1 set out in Schedule 1 to these Regulations.”.

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Source: https://www.legislation.gov.uk/sdsi/2010/9780111010488/regulation/4 (the official version)
Page: https://openlegislation.uk/draft-protected-trust-deeds-scotland-amendment-regulations-2010/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.