Paragraph 4

(1)

The Conveyancing and Feudal Reform (Scotland) Act 1970 shall be amended in accordance with this paragraph.

(2)

In section 9 (which introduces the standard security)—

(a)

after subsection (2A) there shall be inserted—

“(2B)
It shall not be competent to grant a standard security over a personal pre-emption burden or personal redemption burden (both within the meaning of Part 4 of the Abolition of Feudal Tenure etc. (Scotland) Act 2000 (asp 5).”; and

(b)

in subsection (8)(b), for the definition of “interest in land” there shall be substituted—

““real right in land” means any such right, other than ownership or a real burden, which is capable of being held separately and to which a title may be recorded in the Register of Sasines;”.

(3)

In section 19 (calling-up of standard security), in subsection (4), for the words “infeft in” there shall be substituted . “ “having title to” ”

(4)

In section 19A(1) (notice to occupier of calling up), for the words “an interest” there shall be substituted . “ “land or a real right” ”

(5)

In section 24(3) (application by creditor for remedies on default), for the words “an interest” there shall be substituted . “ “land or a real right” ”