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Conveyancing and Feudal Reform (Scotland) Act 1970
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- UK Public General Acts
- 1970 c. 35
- Part II
- Section 11
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Conveyancing and Feudal Reform (Scotland) Act 1970, Section 11 is up to date with all changes known to be in force on or before 15 November 2024. 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.
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- s. 1(2)(b)(c) inserted by 2000 asp 5 Sch. 12 para. 30(2)(a)(iv) (This amendment has not been applied to legislation.gov.uk. Sch. 12 para. 30(2) repealed (4.4.2003) by 2003 asp 9, ss. 128, 129(5), Sch. 15 (with ss. 119, 121))
- s. 1(7) added by 2000 asp 5 Sch. 12 para. 30(2)(c) (This amendment has not been applied to legislation.gov.uk. Sch. 12 para. 30(2) repealed (4.4.2003) by 2003 asp 9, ss. 128, 129(5), Sch. 15 (with ss. 119, 121))
- s. 9(2A) inserted by 2000 asp 5 s. 32 (This amendment has not been applied to legislation.gov.uk. S. 32 repealed (4.4.2003) by 2003 asp 9, ss. 128, 129(5), Sch. 15 (with ss. 119, 121) and word "32" in s. 77(2)(a) omitted (22.10.2003) by virtue of S.S.I. 2003/503, art. 5)
- s. 13A amendment to earlier affecting provision 2007 asp 3 s. 85 by 2012 asp 5 sch. 5 para. 52(2)
- s. 24(1E) inserted by 2014 asp 18 sch. 5 para. 22
11 Effect of [F1registered or] recorded standard security, and incorporation of standard conditions.S
(1)Where a standard security is duly [F2registered or] recorded, it shall operate to vest [F3in the grantee a real right in security] for the performance of the contract to which the security relates.
(2)Subject to the provisions of this Part of this Act, the conditions set out in Schedule 3 to this Act, either as so set out or with such variations as have been agreed by the parties in the exercise of the powers conferred by the said Part (which conditions are hereinafter in this Act referred to as “the standard conditions”), shall regulate every standard security.
(3)Subject to the provisions of this Part of this Act, the creditor and debtor in a standard security may vary any of the standard conditions, other than [F4standard condition 11 (procedure on redemption) and] the provisions of Schedule 3 to this Act relating to the powers of sale, . . . F5 and foreclosure and to the exercise of those powers, but no condition capable of being varied shall be varied in a manner inconsistent with any condition which may not be varied by virtue of this subsection.
(4)In this Part of this Act—
(a)any reference to a variation of the standard conditions shall include a reference to the inclusion of an additional condition and to the exclusion of a standard condition;
(b)any purported variation of a standard condition which contravenes the provisions of subsection (3) of this section shall be void and unenforceable.
Textual Amendments
F1Words in s. 11 title inserted (8.12.2014) by Land Registration etc. (Scotland) Act 2012 (asp 5), ss. 122, 123, sch. 5 para. 17(5) (with s. 121, sch. 4 paras. 13, 16); S.S.I. 2014/127, art. 2
F2Words in s. 11(1) inserted (8.12.2014) by Land Registration etc. (Scotland) Act 2012 (asp 5), ss. 122, 123, sch. 5 para. 17(4) (with s. 121, sch. 4 paras. 13, 16); S.S.I. 2014/127, art. 2
F3Words in s. 11(1) substituted (28.11.2004) by 2000 asp 5, ss. 76(1), 77(2)(c), sch. 12 Pt. 1 para. 30(8) (with ss. 58, 62, 75); S.S.I. 2003/456, art. 2
F4Words inserted by Redemption of Standard Securities (Scotland) Act 1971 (c. 45), s. 1(a)
F5Words repealed by Redemption of Standard Securities (Scotland) Act 1971 (c. 45), s. 1(a)
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