4Unless 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)in sub-paragraph (3), for the reference to the permanent trustee there shall be substituted a reference to the trustee;
(c)paragraph 4 shall be omitted ; and
(d)in paragraph 5(2) for the references to the permanent trustee there shall be substituted references to the trustee.