C4C5C6C1C2Part 25Company charges

Annotations:
Modifications etc. (not altering text)
C1

Pt. 25 excluded (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2001 (c. 1), s. 252(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch.

F1F1Chapter 2Companies registered in Scotland

Annotations:
Amendments (Textual)

Charges requiring registration

C3879Charges which have to be registered: supplementary

1

A charge on land, for the purposes of section 878(7)(a), includes a charge created by a heritable security within the meaning of section 9(8) of the Conveyancing and Feudal Reform (Scotland) Act 1970 (c. 35).

2

The holding of debentures entitling the holder to a charge on land is not, for the purposes of section 878(7)(a), deemed to be an interest in land.

3

It is immaterial for the purposes of this Chapter where land subject to a charge is situated.

4

The deposit by way of security of a negotiable instrument given to secure the payment of book debts is not, for the purposes of section 878(7)(b)(vii), to be treated as a charge on those book debts.

5

References in this Chapter to the date of the creation of a charge are—

a

in the case of a floating charge, the date on which the instrument creating the floating charge was executed by the company creating the charge, and

b

in any other case, the date on which the right of the person entitled to the benefit of the charge was constituted as a real right.

6

In this Chapter “company” means an incorporated company registered in Scotland.