3A

The right to redeem a heritable security conferred by this section does not apply to a heritable security where—

a

the debtor (or where the debtor is not the proprietor, the proprietor of the security subjects) has in writing renounced the right to redeem conferred by this section; and

b

at the time of doing so that body is—

i

a social landlord (within the meaning of section 165 of the Housing (Scotland) Act 2010);

ii

a body connected to a social landlord (within the meaning of section 164 of the Housing (Scotland) Act 2010); or

iii

a rural housing body (within the meaning of section 122(1) of the Title Conditions (Scotland) Act 2003).