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In respect of the recording of a heritable security, including the constitution, transfer, postponement, corroboration or extinction of a security, (but excluding a ground annual created by bilateral deed), the fee to be charged shall be calculated as follows:–
(a)on the amount of the heritable security or securities created, transferred, postponed, corroborated or discharged; or
(b)where there is any combination of transfer, postponement, corroboration and discharge of a heritable security or securities, on the amount of the security or securities affected by such combination;
and shall be at the rates shown in Table B of Part XI of this Schedule subject to the provisions of Part III of this Schedule and to the following provisions:–
(i)where a heritable security secures a yearly or periodical payment, the amount of the security shall be the capitalised amount of the payment, calculated at 10 years' purchase;
(ii)where a heritable security accompanies a conveyance to the granter of the security of the subjects over which the security is constituted, a fixed fee for the recording of the security will be charged;
(iii)where a Discharge and Deed of Restriction is recorded the fee will be charged on the amount of the Discharge;
(iv)where a Deed of Restriction is recorded, a fixed fee will be charged;
(v)where a variation of heritable security is recorded a fixed fee will be charged, except where the amount secured by the heritable security is increased, in which case the fee will be charged on the amount of the increase.
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