In this paper, we propose a new high performance PN-Schottky collector (PN-SC) lateral bipolar junction transistor (BJT) on silicon-on-insulator (SOI). The proposed device addresses the problem of poor speed of conventional lateral PNP-BJT device by using a Schottky collector. Further, it does not use the conventional ways of ion implantation/diffusion to realize n and p type doped region. However, it uses metal electrodes of different work functions to create n and p type charge plasma in an undoped silicon film. The simulation study of the proposed lateral PN-SC bipolar charge plasma transistor on SOI (PN-SC-BCPT) device has shown a significant improvement in current gain (β), cutoff frequency (fT) and switching performance in comparison to conventional PNP-BJT and PNP-bipolar charge plasma transistor (PNP-BCPT) devices. A significantly high β is obtained in the proposed PN-SC-BCPT (∼2100) in comparison to PNP-BCPT (∼1450) and the conventional BJT (∼9) devices, respectively. It has been observed that there is 89.56% and 153.5% increase in fT for the proposed PN-SC-BCPT device (2.18 GHz) in comparison to conventional PNP-BJT (1.15 GHz) and PNP-BCPT (0.86 GHz) devices, respectively. Further, reductions of 24.6% and 15.4% in switching ON-delay and 66% and 30.76% in switching OFF-delay have been achieved in the proposed device based inverters in comparison to PNP-BCPT and the conventional BJT devices based inverters, respectively. Furthermore, the proposed device does not face doping related issues and the requirement of high temperature processing is absent.