Section 46A Regulations concerning loansF1

Scotland

(1)

The Scottish Ministers may in accordance with regulations made by them under subsection (2) below provide loans to—

(a)

crofters;

(b)

cottars;

(F2ba)

owner-occupier crofters;

(c)

owners of holdings to which section 46(2) of this Act applies.

(2)

Regulations under this subsection may make provision as to—

(a)

who is to be eligible for a loan;

(b)

the amount which may be lent;

(c)

the circumstances under which, and the purposes for which, a loan may be provided;

(d)

the terms and conditions applicable to any loan;

(e)

arrangements for recording documents in connection with a loan in the Register of Crofts, the Land Register of Scotland or the Register of Sasines;

(f)

arrangements for recovery of any loan (whether or not in its entirety) when the borrower dies;

(g)

arrangements for assignation of the borrower's liabilities in consequence of the borrower dying or no longer occupying the holding in respect of which the loan was provided.

Annotations

Textual amendments

F1: S. 46A inserted (25.6.2007) by Crofting Reform etc. Act 2007 (asp 7), ss. 32, 43(3) (with ss. 40, 43(2)); S.S.I. 2007/269, art. 2, sch.
F2: S. 46A(1)(ba) inserted (22.12.2010) by Crofting Reform (Scotland) Act 2010 (asp 14), s. 57(2), sch. 4 para. 3(28) (with s. 57(4)); S.S.I. 2010/437, art. 3, sch. (with art. 4)