- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
The Land Register of Scotland (Rate of Interest on Compensation) Regulations 2014
You are here:
- Offerynnau Statudol yr Alban
- 2014 No. 194
- Whole Instrument
- Blaenorol
- Nesaf
Pa Fersiwn
Dewisiadau Agor
Rhagor o Adnoddau
Status:
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol). This item of legislation is currently only available in its original format.
Scottish Statutory Instruments
2014 No. 194
Land Registration
The Land Register of Scotland (Rate of Interest on Compensation) Regulations 2014
Made
26th June 2014
Coming into force
8th December 2014
The Scottish Ministers make the following Regulations in exercise of the powers conferred by sections 79(4), 84(7) and 95(4) of the Land Registration etc. (Scotland) Act 2012(1) and all other powers enabling them to do so.
In accordance with section 116(3)(g), (h) and (i) of that Act, a draft of these Regulations has been laid before and approved by resolution of the Scottish Parliament.
Citation and commencement
1. These Regulations may be cited as the Land Register of Scotland (Rate of Interest on Compensation) Regulations 2014 and come into force on 8th December 2014.
Interest
2.—(1) The rate of interest payable by virtue of sections 79(2), 84(5) and 95(2) of the Land Registration etc. (Scotland) Act 2012 is 1 per cent above the Bank of England base rate.
(2) In this regulation “Bank of England base rate” means—
(a)except where sub-paragraph (b) applies, the rate announced from time to time by the Monetary Policy Committee of the Bank of England as the official dealing rate, being the rate at which the Bank is willing to enter into transactions for providing short term liquidity in the money markets; or
(b)if an order under section 19 (reserve powers) of the Bank of England Act 1998(2) is in force, any equivalent rate determined by the Treasury under that section.
FERGUS EWING
Authorised to sign by the Scottish Ministers
St Andrew’s House,
Edinburgh
26th June 2014
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations make provision as to the rate of interest to be applied to payments of compensation made by the Keeper of the Registers of Scotland under the Land Registration etc. (Scotland) Act 2012 (“the Act”).
Section 77 of the Act provides that the Keeper must pay compensation for loss incurred as a result of a breach of the Keeper’s warranty. Section 84 provides that the Keeper must pay compensation for loss incurred in consequence of an inaccuracy in the register and certain expenses incurred in securing rectification of the register. Section 94 provides that the Keeper must pay compensation for loss incurred as a result of the operation of Part 9 of the Act.
Sections 79, 84 and 95 make provision regarding the quantification of that compensation and confer upon the Scottish Ministers the power to set the rate of interest payable on that compensation.
Regulation 2 provides that the rate of interest payable is 1 per cent above the Bank of England base rate.
A business regulatory impact assessment has not been provided for this instrument as no impact on the private or voluntary sectors is foreseen.
(1)
(2)
Options/Help
Print Options
PrintThe Whole Instrument
Mae deddfwriaeth ar gael mewn fersiynau gwahanol:
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Dewisiadau Agor
Dewisiadau gwahanol i agor deddfwriaeth er mwyn gweld rhagor o gynnwys ar y sgrin ar yr un pryd
Policy Note
Policy Note sets out a brief statement of the purpose of a Scottish Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Scottish Statutory Instrument accessible to readers who are not legally qualified and accompany any Scottish Statutory Instrument or Draft Scottish Statutory Instrument laid before the Scottish Parliament from July 2012 onwards. Prior to this date these type of notes existed as ‘Executive Notes’ and accompanied Scottish Statutory Instruments from July 2005 until July 2012.
Rhagor o Adnoddau
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
- y PDF print gwreiddiol y fel deddfwyd fersiwn a ddefnyddiwyd am y copi print
- rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
- manylion rhoi grym a newid cyffredinol
- pob fformat o’r holl ddogfennau cysylltiedig
- slipiau cywiro
- dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill
Rhagor o Adnoddau
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
- y PDF print gwreiddiol y fel gwnaed fersiwn a ddefnyddiwyd am y copi print
- slipiau cywiro
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys
- rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
- manylion rhoi grym a newid cyffredinol
- pob fformat o’r holl ddogfennau cysylltiedig
- dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill
Mae’r holl gynnwys ar gael dan Drwydded Llywodraeth Agored v3.0 ac eithrio ble nodir yn wahanol. Yn ychwanegol mae’r safle hwn â chynnwys sy’n deillio o EUR-Lex, a ailddefnyddiwyd dan delerau Penderfyniad y Comisiwn 2011/833/EU ar ailddefnyddio dogfennau o sefydliadau’r UE. Am ragor o wybodaeth gweler ddatganiad cyhoeddus Swyddfa Gyhoeddiadau’r UE ar ailddefnyddio.