5 Floating charges (Scotland): application of the Bankruptcy and Diligence etc. (Scotland) Act 2007
1 On the day on which section 46 (repeals, savings and transitional arrangements) of the Bankruptcy and Diligence etc. (Scotland) Act 2007 (“the 2007 Act”) comes into force—
(a) article 4 of, and Schedule 1 to, this Order cease to have effect to the same extent as Chapters 1 and 3 of Part 18 of the Companies Act 1985 cease to have effect by virtue of section 46 of the 2007 Act; and
(b) paragraph (2) has effect.
2007 (asp 3).
2 Part 2 of the 2007 Act applies to a building society as it applies to an incorporated company, but—
(a) with the modifications set out in Schedule 2; and
(b) in consequence of those modifications, without the modifications in regulation 5 of the Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010 (registration of charges: Scotland).
S.I. 2010/2993.
Part 2 has been amended, before being brought into force, by the Banking Act 2009 (c. 1), section 253; and by S.I. 2009/1941 and 2010/2993.