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Land Registration etc. (Scotland) Act 2012

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Changes over time for: Section 112A

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Land Registration etc. (Scotland) Act 2012, Section 112A is up to date with all changes known to be in force on or before 27 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1112AOffence by overseas entityS

This section has no associated Explanatory Notes

(1)An overseas entity must not deliver to a person a qualifying registrable deed granted by the overseas entity if (disregarding the possibility of consent under paragraph 7(2) of schedule 1A) by virtue of paragraph 2 of schedule 1A the Keeper would be required to reject an application under section 21 for registration of the deed.

(2)A qualifying registrable deed is to be treated as having been granted for the purposes of subsection (1) even if at the time when it is delivered it has been executed by the overseas entity only.

(3)If an overseas entity breaches subsection (1), an offence is committed by—

(a)the entity, and

(b)every officer of the entity who is in default.

(4)Nothing in this section affects the validity of a qualifying registrable deed delivered in breach of subsection (1).

(5)A person guilty of an offence under subsection (3) is liable—

(a)on summary conviction, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both);

(b)on conviction on indictment, to imprisonment for a term not exceeding 5 years or a fine (or both).

(6)Sections 1121 to 1123 of the Companies Act 2006 (liability of officers in default: interpretation etc.) apply for the purposes of this section as they apply for the purposes of provisions of the Companies Acts.

(7)In those sections as applied, a reference to an officer includes a person in accordance with whose directions or instructions the board of directors or equivalent management body of an overseas entity are accustomed to act.

(8)A person is not to be regarded as falling within subsection (7) by reason only that the board of directors or equivalent management body acts on advice given by the person in a professional capacity.

(9)In this section—

  • overseas entity” has the meaning given by section 2 of the Economic Crime (Transparency and Enforcement) Act 2022;

  • qualifying registrable deed” means a registrable deed which is—

    (a)

    a disposition;

    (b)

    a standard security;

    (c)

    a lease;

    (d)

    an assignation of a lease.]

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