Section 88 Application for registration of amendmentI1I2C1
Scotland
A secured creditor may apply to the Keeper for registration of an amendment to a statutory pledge to increase the extent of the statutory pledge within the meaning of section 58(7).
The Keeper must accept the application if—
it is submitted with a copy of the amendment document,
it contains all the information the Keeper requires in accordance with section 83 to be able to revise the entry to which the application relates,
it conforms to such RSP Rules as relate to the application, and
either—
such fee as is payable for the registration is paid, or
arrangements satisfactory to the Keeper are made for payment of that fee.
If the requirements of subsection (2) are not satisfied, the Keeper must reject the application and inform the applicant accordingly.
Annotations
Modifications
- C1
Pt. 2 extended (with modifications) (1.4.2025) by The Moveable Transactions (Scotland) Act 2023 (Financial Collateral Arrangements and Financial Instruments) (Consequential Provisions and Modifications) Order 2025 (S.I. 2025/275), arts. 1(2), 5 (with arts. 6-20)
Commencement
- I1
S. 88 not in force at Royal Assent, see s. 121(2)
- I2
S. 88 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2