- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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Referendums (Scotland) Act 2020
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48(1)The value of a regulated transaction which is a loan is the value of the total amount to be lent under the loan agreement.
(2)The value of a regulated transaction which is a credit facility is the maximum amount which may be borrowed under the agreement for the facility.
(3)The value of a regulated transaction which is an arrangement by which any form of security is given is the contingent liability under the security provided.
(4)For the purposes of sub-paragraphs (1) and (2), no account is to be taken of the effect of any provision contained in a loan agreement or an agreement for a credit facility at the time it is entered into which enables outstanding interest to be added to any sum for the time being owed in respect of the loan or credit facility, whether or not any such interest has been so added.
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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
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