Article 2 Heritable securities

(1)

A heritable security granted in favour of the Scottish Ministers or Places for People Scotland^f1 under any of the schemes mentioned in paragraph (2) is not capable of being redeemed in accordance with the operation of section 11(3D) of the Land Tenure Reform (Scotland) Act 1974.

(2)

The schemes are—

(a)

Open Market Shared Equity Scheme (as part of the Low Cost Initiative for First Time Buyers) launched in September 2005,

(b)

New Supply Shared Equity Scheme (as part of the Low Cost Initiative for First Time Buyers) launched in October 2007,

(c)

Home Owners Support Fund (Mortgage to Shared Equity Scheme) launched in March 2009,

(d)

Places for People Scotland New Supply Shared Equity Scheme launched in November 2011,

(e)

Help to Buy (Scotland) Scheme launched in September 2013,

(f)

Help to Buy (Scotland) Smaller Developers Scheme launched in January 2015,

(g)

Help to Adapt launched in April 2015, and

(h)

Help to Buy (Scotland) Affordable New Build Scheme launched in January 2016.

Annotations

Footnotes

f1: A private limited company registered in Scotland under company number SC278428.