Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3)

Part 2 S Floating charges

Modifications etc. (not altering text)

C1 Pt. 2 applied (prosp.) by 1967 c. 48, s. 3(1) (as substituted by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp. 3), ss. 49(1), 227 (with s. 223))

Registration and creation etc. S

Prospective

47 Interpretation S

In this Part—

• [F1 “central institution” means—

  (a)

  the Bank of England,

  (b)

  the central bank of a country or territory outside the United Kingdom, or

  (c)

  the European Central Bank;]

• “company” means an incorporated company (whether or not a company [F2 as defined in section 1(1) of the Companies Act 2006]);

• “fixed security”, in relation to any property of a company, means any security (other than a floating charge or a charge having the character of a floating charge) which on the winding up of the company in Scotland would be treated as an effective security over that property including, in particular, a heritable security (within the meaning of section 9(8) of the Conveyancing and Feudal Reform (Scotland) Act 1970 (c. 35)).

Textual Amendments

F1 S. 47: definition of "central institution" inserted (21.2.2009) by Banking Act 2009 (c. 1), ss. 253(7), 263(1)(2) (with s. 247); S.I. 2009/296, art. 3, Sch. para. 11

F2 S. 47: words in definition of "company" substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 267 (with art. 10)