Part II The Standard Security C1C2C3
Pt. II (ss. 9-32) applied (with modifications) (12.4.1993) by Health and Social Services and Social Security Adjudications Act 1983 (c. 41, SIF 113:3), s. 23(6); S.I. 1992/2974, art. 2, Sch.
Pt. II (ss. 9-32) applied (with modifications) (16.7.1993) by S.I. 1993/1516, art. 5
The provisions of Pt. II, other than ss. 9(1) and (2), 12 and 14, applied (with modifications) by S.I. 1987/381, reg. 40(5)
16 Variation of standard security.
1
Any alteration in the provisions (including any standard condition) of a standard security duly recorded, other than an alteration which may appropriately be effected by an assignation, discharge or restriction of that standard security, or an alteration which involves an addition to, or an extension of, the interest in land mentioned therein, may be effected by a variation endorsed on the standard security in conformity with Form E of Schedule 4 to this Act, or by a variation contained in a separate deed in a form appropriate for that purpose, duly recorded in either case.
2
Where a standard security has been duly recorded, but the personal obligation or any other provision (including any standard condition) relating to the security has been created or specified in a deed which has not been so recorded, nothing contained in this section shall prevent any alteration in that personal obligation or provision, other than an alteration which may be appropriately effected by an assignation, discharge or restriction of the standard security, or an alteration which involves an addition to, or an extension of, the interest in land mentioned therein, by a variation contained in any form of deed appropriate for that purpose, and such a variation shall not require to be recorded in the Register of Sasines.
3
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4
Any variation effected in accordance with this section shall not prejudice any other security or right over the same interest in land, or any part thereof, effectively constituted before the variation is recorded, or, where the variation is effected by an unrecorded deed, before that deed is executed, as the case may be.
Pt. II explained by Redemption of Standard Securities (Scotland) Act 1971 (c. 45), s. 2