Source: http://www.legislation.gov.uk/asp/2007/3/part/5/data.xht?view=snippet&wrap=true
Timestamp: 2019-09-21 12:34:25
Document Index: 698540608

Matched Legal Cases: ['art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 4', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3']

151Effect on inhibition to enforce obligation when alternative decree grantedS
152Effect of conversion of limited inhibition on the dependence to inhibition in executionS
[F1(1)F1][F2Subject to subsection (2) below,]F2 where—
[F3any inhibition on the dependence which, on decree, becomes an inhibition in execution of that decree, is no longer limited to that property]
[F4F3(2)Subsection (1) above has effect from the beginning of the day on which–
(a)an extract of the decree (or a copy of the interlocutor certified by the clerk of court); and
(b)a notice in (or as nearly as may be in) the form set out in the Schedule to the Bankruptcy and Diligence etc. (Scotland) Act 2007 (Inhibition) Order 2009,
are registered in the Register of Inhibitions.F4]
F1S. 152 renumbered as s. 152(1) (22.4.2009) by The Bankruptcy and Diligence etc. (Scotland) Act 2007 (Inhibition) Order (S.S.I. 2009/219), {art. 2(a)}
F2Words in s. 152(1) inserted (22.4.2009) by The Bankruptcy and Diligence etc. (Scotland) Act 2007 (Inhibition) Order (S.S.I. 2009/219), {art. 2(b)}
F3Words in s. 152(1) substituted (22.4.2009) by The Bankruptcy and Diligence etc. (Scotland) Act 2007 (Inhibition) Order (S.S.I. 2009/219), {art. 2(b)}
F4S. 152(2) inserted (22.4.2009) by The Bankruptcy and Diligence etc. (Scotland) Act 2007 (Inhibition) Order (S.S.I. 2009/219), {art. 2(c)} (with transitional modifications in art. 4)
153Property affected by inhibition to enforce obligation to convey heritable propertyS
Where a decree such as is mentioned in section 146(2)(b) of this Act is granted, any inhibition executed to enforce that decree is limited to the property to which the decree relates.
154Inhibition not to confer a preference in rankingS
(1)An inhibition does not confer any preference in any—
(a)sequestration;
(b)insolvency proceedings; or
(c)other process in which there is ranking.
(2)Subsection (1) above does not affect any preference claimed in—
(a)a sequestration;
(c)any other process,
where the inhibition has effect before this section comes into force.
(3)For the avoidance of doubt, in this section, “other process” includes the process, under section 27(1) of the Conveyancing and Feudal Reform (Scotland) Act 1970 (c. 35), of applying the proceeds of sale where a creditor in a standard security has effected a sale of the security subjects.
(4)In this section, “insolvency proceedings” means—
155Power of receiver or liquidator in creditors' voluntary winding up to dispose of property affected by inhibitionS
(1)The Insolvency Act 1986 (c. 45) is amended as follows.
“(1A)For the purposes of subsection (1) above, an inhibition which takes effect after the creation of the floating charge by virtue of which the receiver was appointed is not an effectual diligence.”.
(3)After section 166(1) (which applies the provisions of that section to a liquidator nominated by the company in a creditors' voluntary winding up) insert—
“(1A)The exercise by the liquidator of the power specified in paragraph 6 of Schedule 4 to this Act (power to sell any of the company's property) shall not be challengeable on the ground of any prior inhibition.”.
(b)a sum is paid, in respect of the debt constituted by the decree or document of debt authorising the inhibition, to the creditor, [F5an officer of court] or any other person who has authority to receive payment on behalf of the creditor.
F5Words in s. 157(1)(b) substituted (31.1.2011) by Public Services Reform (Scotland) Act 2010 (asp 8), s. 134(7), Sch. 4 para. 25(a); S.S.I. 2011/30, art. 3(1)(3), Sch. 1
160Breach of inhibitionS
An inhibited debtor breaches the inhibition when the debtor delivers a deed—
(a)conveying; or
(b)otherwise granting a right in,
property over which the inhibition has effect to a person other than the inhibiting creditor.
161Prescription of right to reduce transactions in breach of inhibitionS
For the avoidance of doubt, section 8(1) of the Prescription and Limitation (Scotland) Act 1973 (c. 52) (extinction of certain rights relating to property by prescriptive period of 20 years) applies to the right of an inhibitor to have a deed granted in breach of an inhibition reduced.
162Registration of notice of litigiosity and discharge of noticeS
After section 159 of the 1868 Act insert—
“159ARegistration of notice of summons of action of reduction
(1)This section applies where a pursuer raises an action of reduction of a conveyance or deed of or relating to lands granted in breach of an inhibition.
(2)The pursuer shall, as soon as is reasonably practicable after the summons in the action is signeted—
(a)register a notice of that signeted summons in accordance with section 159 of this Act; and
(b)register in the Land Register of Scotland or, as the case may be, record in the Register of Sasines a copy of that notice.
(3)Where a decree of reduction is not obtained in the action to which the notice relates, the pursuer shall, as soon as is reasonably practicable—
(a)register in the Register of Inhibitions; and
(b)register in the Land Register of Scotland or, as the case may be, record in the Register of Sasines,
a discharge of that notice in (or as nearly as may be in) the form prescribed.”.
I4S. 162 wholly in force at 22.4.2009; s. 162 not in force at Royal Assent see s. 227; s. 162 in force for certain purposes at 1.4.2008 by S.S.I. 2008/115, art. 3(4), Sch. 3 (with arts. 4-6, 10); s. 162 otherwise in force at 22.4.2009 by S.S.I. 2009/67, art. 3(1) (with transitional modifications and savings in arts. 4-6)
163Reduction of lease granted in breach of inhibitionS
(1)This section applies where an inhibited debtor grants a lease of property affected by the inhibition.
(2)A lease which, on the date an action of reduction of the lease is raised, has an unexpired duration of not less than 5 years is reducible.
(3)A lease which, on the date an action of reduction of the lease is raised, has an unexpired duration of less than 5 years may be reduced only if the Court of Session is satisfied that it would be fair and reasonable in all the circumstances to do so.
(4)In calculating the unexpired duration of a lease for the purposes of subsections (2) and (3) above—
(a)any provision in the lease (however expressed) enabling the lease to be terminated earlier than the date on which the lease would otherwise terminate must be disregarded; and
(b)where the lease includes provision (however expressed) requiring the landlord to renew it, the duration of any such renewed lease must be added to the duration of the original lease.
164Power to prescribe forms in the 1868 ActS
(1)In section 159 of the 1868 Act (no litigiosity before date notice of summons is registered), for the words from “set” to “annexed” substitute “ be in (or as nearly as may be in) the form prescribed. ”.
I5S. 164 wholly in force at 22.4.2009; s. 164 not in force at Royal Assent see s. 227; s. 164(1)(2) in force for certain purposes at 1.4.2008 by S.S.I. 2008/115, art. 3(4), Sch. 3 (with arts. 4-6, 10); s. 164 otherwise in force at 22.4.2009 by S.S.I. 2009/67, art. 3(1) (with transitional modifications and savings in arts. 4-6)
I6S. 165 partly in force; s. 165 not in force at Royal Assent see s. 227; s. 165(1)(3)(4) in force at 22.4.2009 by S.S.I. 2009/67, art. 3 (with transitional modifications and savings in arts. 4-6)
166AscriptionS
167Keeper's duty to enter inhibition on title sheetS
(a)in subsection (1)(c), at the beginning insert “ subject to subsection (1A) below, ”; and
168Inhibition effective against judicial factorS
(1)Notwithstanding the appointment of a judicial factor on a debtor's estate, an inhibition has effect.
(a)a judicial factor is appointed under section 11A of the Judicial Factors (Scotland) Act 1889 (c. 39) (application for judicial factor on deceased person's estate); and
(b)the inhibition was effective against the debtor prior to the debtor's death.