Section 54 Registration of decree of reductionI1

After section 46 of the Conveyancing (Scotland) Act 1924 (c.27) insert—

“Further provision as regards decree of reduction

46A

(1)

Where a deed mentioned in subsection (2) is reduced, the decree of reduction—

(a)

may be registered in the Land Register of Scotland, and

(b)

does not have real effect until so registered.

(2)

The deed is one which—

(a)

is voidable, and

(b)

relates to a plot of land or lease registered in the Land Register of Scotland.

(3)

Subsection (1) applies to an arbitral award which—

(a)

orders the reduction of a deed mentioned in subsection (2), and

(b)

may be enforced in accordance with section 12 of the Arbitration (Scotland) Act 2010 (asp 1),

as it applies to a decree of reduction.”.