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Conveyancing and Feudal Reform (Scotland) Act 1970
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- 1970 c. 35
- Part II
- Section 23
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Conveyancing and Feudal Reform (Scotland) Act 1970, Section 23 is up to date with all changes known to be in force on or before 01 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.
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- s. 24(1E) inserted by 2014 asp 18 sch. 5 para. 22
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 24(1E) inserted by 2014 asp 18 sch. 5 para. 22
23 Rights and duties of parties after service of notice of default to which objection is not taken, or where the notice is not set aside.S
(1)Where a person does not object to a notice of default in accordance with the provisions of the last foregoing section, or where he has so objected and the notice has been upheld or varied under that section, it shall be his duty to comply with any requirement, due to be performed or fulfilled by him, contained in the notice or, as the case may be, in the notice as so varied.
(2)Subject to the provisions of section 21(4) of this Act [F1and subsection (4) below], where a person fails to comply as aforesaid, the creditor, subject to the next following subsection, may proceed to exercise such of his rights on default under standard condition 10(2), (6) and (7) as he may consider appropriate.
(3)At any time after the expiry of the period stated in a notice of default, or in a notice varied as aforesaid, but before the conclusion of any enforceable contract to sell the security subjects, or any part thereof, by virtue of the last foregoing subsection, the debtor or proprietor [F2(being in either case a person entitled to redeem the security)] may, subject to any agreement to the contrary, redeem the security without the necessity of observance of any requirement as to notice.
[F3(4)Where the standard security is over land or a real right in land used to any extent for residential purposes—
(a)the creditor is entitled to exercise the right specified in standard condition 10(2) only—
(i)where the conditions in section 23A of this Act are satisfied, or
(ii)with the warrant of the court, granted on an application under section 24 of this Act, and
(b)subsection (3) above has effect as if the reference to the last foregoing subsection were a reference to section 24 of this Act.]
Textual Amendments
F1Words in s. 23(2) inserted (30.9.2010) by Home Owner and Debtor Protection (Scotland) Act 2010 (asp 6), ss. 8(3), 17(3) (with s. 14); S.S.I. 2010/314, art. 3 (subject to transitional and saving provisions in S.S.I. 2010/316, arts. 4-7)
F2Words inserted by Redemption of Standard Securities (Scotland) Act 1971 (c. 45), s. 1(e)
F3S. 23(4) inserted (30.9.2010) by Home Owner and Debtor Protection (Scotland) Act 2010 (asp 6), ss. 1(2), 17(3) (with s. 14); S.S.I. 2010/314, art. 3 (subject to transitional and saving provisions in S.S.I. 2010/316, arts. 4-7)
Modifications etc. (not altering text)
C1Ss. 14-30 applied (with modifications) (28.11.2004) by 2000 asp 5, ss. 69, 77(2)(a) (with ss. 58, 62, 75); S.S.I. 2003/456, art. 2
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