Local Government (Scotland) Act 1973

228 Abolition of fiars courts for counties etc.

(1) The courts for striking the fiars prices for the counties of Scotland shall no longer be held, and accordingly no payment becoming due after the appointed day shall be calculated by reference to fiars prices.

(2) Subject to the provisions of section 12 of the [1924 c. 27.] Conveyancing (Scotland) Act 1924 (abolition and commutation of grain, etc. feuduties) the amount of any periodical payment becoming due after the appointed day which would, if it had become due immediately before that day, have fallen to be ascertained by reference to fiars prices, shall be a sum in money representing the average value of the payment due during the last three years before that day.

(3) In the event of the parties failing to reach agreement as to the commutation into money of any payment by reference to subsection (2) above, either party may apply to the sheriff for a decree declaring the commuted value in money of the payment.

(4) Where any payment, the amount of which falls to be ascertained by reference to subsection (2) above, is exigible from any person by virtue of an interest in land, the title to which may be recorded in the Register of Sasines, any agreement relative thereto and any decree pronounced under subsection (3) above shall, on being duly recorded in the appropriate register, be binding upon all persons having interest.

(5) Any valuation or question mentioned in subsection (4) of section 75 of the [1949 c. 75.] Agricultural Holdings (Scotland) Act 1949, falling to be decided by reference to a date after the appointed day, which would, if it had fallen to be decided by reference to a date immediately before that day, have been decided by reference to fiars prices, shall be decided in such manner as the parties may by agreement determine or, failing such agreement, shall, notwithstanding the provisions of that subsection, be decided by arbitration under that Act.

(6) In this section " the appointed day" means the day appointed under section 238 of this Act for the coming into operation of this section.