Part II The Standard Security C2C3C4
Pt. II (ss. 9-32) applied (with modifications) (12.4.1993) by Health and Social Services and Social Security Adjudications Act 1983 (c. 41, SIF 113:3), s. 23(6); S.I. 1992/2974, art. 2, Sch.
Pt. II (ss. 9-32) applied (with modifications) (16.7.1993) by S.I. 1993/1516, art. 5
The provisions of Pt. II, other than ss. 9(1) and (2), 12 and 14, applied (with modifications) by S.I. 1987/381, reg. 40(5)
C125 Exercise of power of sale.
A creditor in a standard security having right to sell the security subjects may F1, subject to sections 37(5)(e) or 40(1) of the Land Reform (Scotland) Act 2003 (asp 2) (prohibition of transfer of land registered under that Act except in accordance with its provisions), exercise that right either by private bargain or by exposure to sale, and in either event it shall be the duty of the creditor to advertise the sale and to take all reasonable steps to ensure that the price at which all or any of the subjects are sold is the best that can be reasonably obtained.
Pt. II explained by Redemption of Standard Securities (Scotland) Act 1971 (c. 45), s. 2