# Bankruptcy and Diligence etc. (Scotland) Act 2007, Section 39: Advance notice of floating charges

Extent: S
Status: prospective

(1) Where a company proposes to grant a floating charge, the company and the person in whose favour the charge is to be granted may apply to have joint notice of the proposed charge registered in the Register of Floating Charges.
(2) Subsection (3) below applies where—
(a) a notice under subsection (1) above is registered in the Register of Floating Charges; and
(b) within 21 days of the notice being so registered, a document—
(i) granting a floating charge conforming with the particulars contained in the notice; and
(ii) subscribed by the company granting the charge,
is registered in the Register of Floating Charges.
(3) Where this subsection applies, the floating charge so created is to be treated as having been created when the notice under subsection (1) above was so registered.
(4) This section does not apply where a company proposes to grant a floating charge in favour of a central institution.

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Source: https://www.legislation.gov.uk/asp/2007/3/section/39 (the official version)
Page: https://openlegislation.uk/bankruptcy-and-diligence-etc-scotland-act-2007/section-39
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.