{
  "url": "https://openlegislation.uk/protected-trust-deeds-scotland-regulations-2013/regulation-21",
  "json_url": "https://openlegislation.uk/protected-trust-deeds-scotland-regulations-2013/regulation-21.json",
  "legislation": "ssi/2013/318",
  "legislation_title": "The Protected Trust Deeds (Scotland) Regulations 2013",
  "legislation_url": "https://openlegislation.uk/protected-trust-deeds-scotland-regulations-2013",
  "path": "regulation/21",
  "kind": "regulation",
  "number": "21",
  "heading": "Administration of trust under protected trust deed",
  "text": "(1) At intervals of not more than 12 months (the first such interval beginning with the date on which the trust deed was granted) and by no later than 6 weeks after the end of each interval, the trustee under a protected trust deed must send the trustee’s accounts of the trustee’s intromissions with the debtor’s estate in administering the trust during the period in question—\n(a) to the debtor;\n(b) to each creditor; and\n(c) to the Accountant (unless they are sent under regulation 25).\n(2) At such intervals the trustee must send to the Accountant, the debtor and each creditor a report in Form 4 on the management of the trust during the period in question.\n(2A) If the trustee receives within 21 days after the date on which the Form 4 was sent notification in writing from—\n(a) a majority in number; or\n(b) not less than one third in value,\nof creditors that they object to the recommended course of action in the Form 4 where the expected final dividend to ordinary creditors is 20% lower than the expected dividend to ordinary creditors set out in the Form 3, the trustee must request a direction under regulation 19(3) as to how the trust must be administered.\n(3) The debtor or any creditor may, within 14 days after receiving a statement by virtue of paragraph (1), require the Accountant to exercise the function mentioned in section 1A(1)(a)(iia) of the Act by carrying out an examination of the administration of the trust by the trustee.\n(4) In determining the amount of any contribution from income to be made by the debtor, the trustee may take account of any social security benefit paid to the debtor but any contribution must not include an amount derived from social security benefit.",
  "extent": "S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 21(2A) inserted (1.4.2015) by The Common Financial Tool etc. (Scotland) Regulations 2014 (S.S.I. 2014/290), regs. 1, 8(1) (with reg. 11) (as amended by The Common Financial Tool etc. (Scotland) Amendment Regulations 2015 (S.S.I. 2015/149), regs. 1, 4(6))"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 21 in force at 28.11.2013, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ssi/2013/318/regulation/21",
    "retrieved_at": "2026-10-28T21:37:21.718984+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}