Regulation 3
For regulation 97 there shall be substituted the following new regulation—
“Vesting and enforcement of charges
97(1)Any charge on property recovered or preserved for an assisted person arising under section 9(6) of the Act or created by virtue of regulation 97A, 97B or 97C shall vest in the Law Society.
(2)The Law Society may enforce any such charge in any manner which would be available to a chargee in respect of a charge given inter partes, but the Law Society shall not agree to the release or postponement of the enforcement of any such charge except where regulation 97A, 97B or 97C applies and then only in accordance with the provisions of that regulation.
(3)Any such charge affecting land shall, in the case of unregistered land, be a Class B land charge within the meaning of section 2 of the Land Charges Act 1972f1 and, in the case of registered land, be a registrable substantive charge.
(4)Without prejudice to the provisions of the Land Charges Act 1925f2 and the Land Charges Act 1972, all conveyances and acts done to defeat, or operating to defeat, any such charge shall, except in the case of a bona fide purchaser for value without notice, be void as against the Law Society.
(5)Nothing in this regulation or in regulation 96 shall affect the inalienability by statute of any benefit, sum or payment.”.
Annotations
Footnotes
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1972 c. 61; section 2 was amended by the Finance Act 1975 (c. 7), section 52, Schedule 12, paragraphs 2, 18(1)—(3), by the Local Land Charges Act 1975 (c. 76), sections 17(1)(b), 19, Schedule 2, by the Finance Act 1977 (c. 36), section 59, Schedule 9 Part V, by the Matrimonial Homes Act 1983 (c. 19), Schedule 2 and by the Capital Transfer Act 1984 (c. 51), Schedule 8, paragraph 3(1).
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