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5.—(1) Subject to paragraphs (5) and (6), and to article 6 (large scale applications, etc.), the fee for an application for the registration of a charge shall be paid in accordance with Scale 2 in Schedule 2 on the amount of the charge determined in accordance with article 9.
(2) Subject to article 6 (large scale applications, etc.), the fee for an application for the registration of:
(a)the transfer of a charge for monetary consideration; or
(b)a transfer for the purpose of giving effect to the disposition for monetary consideration of a share in a registered charge;
shall be paid in accordance with Scale 2 in Schedule 2 on the amount or value of the consideration.
(3) Subject to article 6 (large scale applications, etc.) and to paragraph (8) of Schedule 4 (applications to which section 145(2) of the Act applies), the fee for an application for the registration of the transfer of a registered charge otherwise than for monetary consideration shall be paid in accordance with Scale 2 in Schedule 2 on the amount secured by the registered charge at the time of the transfer or, where the transfer relates to more than one charge, the aggregate of the amounts secured by the registered charges at the time of the transfer.
(4) Subject to article 6 (large scale applications, etc.) and to paragraph (8) of Schedule 4 (applications to which section 145(2) of the Act applies), the fee for an application for the registration of a transfer for the purpose of giving effect to the disposition otherwise than for monetary consideration of a share in a registered charge shall be paid in accordance with Scale 2 in Schedule 2 on a proportionate part of the amount secured by the registered charge at the time of the transfer or, where the transfer relates to more than one charge, a proportionate part of the aggregate of the amounts secured by the registered charges at the time of the transfer.
(5) Subject to paragraph (6), where a scale fee application (“the primary application”) is made that will, when completed, result in a person (“the applicant”) becoming registered as the proprietor of particular registered land or of one or more registered charges, no fee shall be payable for the registration of a charge by the applicant (or, where the primary application is for the first registration of title to land, by a predecessor in title of the applicant) which charges the registered land or the registered charge or charges which are the subject of the primary application, provided the charge by the applicant either accompanies the primary application or is lodged for registration before the primary application is completed.
(6) Where a charge by an applicant referred to in paragraph (5) also charges property (“the additional property”) which comprises registered land or, as the case may be, one or more registered charges, not being property which is the subject of the primary application referred to in paragraph (5), that paragraph shall not extend to the additional property so that a fee shall be paid in accordance with Scale 2 in Schedule 2 for the registration of the charge by the applicant in respect of the additional property on an amount calculated in accordance with the following formula:
where
A is the amount on which the fee is payable, VA is the value or amount of the additional property, VC is the value of all the property comprised in the charge and C is the amount of the charge determined in accordance with article 9.
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