Trust Deeds (Scotland) Regulations 2013

The Trust Deeds (Scotland) Regulations 2013 govern how trust deeds—legal agreements used in personal insolvency—are created and managed in Scotland. A trust deed allows individuals in debt to transfer their assets to a trustee, who then distributes these assets to creditors, aiming to settle debts. The regulations outline the requirements for how trust deeds must be drafted, the responsibilities of trustees, and the rights of creditors and debtors. This framework ensures transparency and fairness in handling personal insolvency, providing a structured process for those seeking to manage their financial difficulties responsibly.