Explanatory note

This Order provides that section 11(2) of the Land Tenure Reform (Scotland) Act 1974 will not apply to the heritable securities granted in pursuance of the schemes mentioned in article 2.

The effect is that the debtor will not be entitled to redeem the security after 20 years have passed since it was executed, under the terms provided by section 11 of that Act.

For the schemes mentioned in article 2(2), the entitlement is removed for securities granted before this Order comes into force. This is because the schemes mentioned in article 2(2) are no longer operating at the time of this order.

Administrative procedures for the schemes mentioned in article 2(2) are published on the Scottish Government website at this link: https://www.gov.scot/publications/twenty-year-security-rule-removal-of-right-to-redeem/.