13AEffect of subsequent land attachment on ranking of standard securities

1

This section applies where—

a

a notice of land attachment, relating to land (or any part of it) which is subject to an existing standard security dulyF1registered or recorded, is registered in accordance with section 83(1)(c) of the Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3);

b

a copy of that notice is served on the creditor in that existing standard security; and

c

a land attachment is subsequently created on the expiry of the period of 28 days mentioned in section 81(3) of that Act.

2

Section 13(1) of this Act shall apply in relation to the effect on the preference in ranking of that existing standard security from the day on which the period referred to in subsection (1)(c) above expires.