86Application for registration of statutory pledge
This section has no associated Explanatory Notes
(1)A secured creditor may apply to the Keeper for registration of a statutory pledge.
(2)The Keeper must accept the application if—
(a)it is submitted with a copy of the constitutive document,
(b)it contains all the information the Keeper requires in accordance with section 83 to be able to make up an entry for the statutory pledge under section 87(1),
(c)it conforms to such RSP Rules as relate to the application, and
(d)either—
(i)such fee as is payable for the registration is paid, or
(ii)arrangements satisfactory to the Keeper are made for payment of that fee.
(3)If the requirements of subsection (2) are not satisfied, the Keeper must reject the application and inform the applicant accordingly.