Part 5

Inhibition

Termination

Inhibition terminated by payment of full amount owing
157
1
This section applies where—
a
an inhibition executed to enforce payment of a debt has effect; and
b
a sum is paid, in respect of the debt constituted by the decree or document of debt authorising the inhibition, to the creditor, a judicial officer or any other person who has authority to receive payment on behalf of the creditor.
2
Where the sum paid amounts to the sum of—
a
the debt (including any interest due under the decree or document of debt);
b
the expenses incurred by the creditor in executing an inhibition (referred to in this section and in sections 165 and 166 as the “inhibition expenses”); and
c
the expenses of discharging the inhibition,
the inhibition ceases to have effect.
3
Any rule of law to the effect that an inhibition ceases to have effect on payment or tender of the debt constituted by the decree or document of debt is abolished.
4
This section and sections 165 and 166 of this Act do not apply to an inhibition on the dependence of an action.