Electronic legal charges3
1
Subject to paragraphs (2) to (7), the grant of a legal charge of the whole of the registered estate in a single registered title is a disposition within section 91(2) of the Act.
2
Paragraph (1) does not apply to—
a
a disposition to which rule 38 of the principal rules applies,
b
the grant of a legal charge by a body corporate, whether the body corporate is the Borrower or a Joint Borrower, or
c
a charge which is authenticated by a person other than the Borrower.
3
Paragraph (1) only applies if at the time a person authenticates the charge as Borrower or Joint Borrower—
a
that person is entered in the register as proprietor or joint proprietor of the registered estate that is charged, or
b
there is entered in the day list notice of an application to register that person as proprietor or joint proprietor of the registered estate that is charged.
4
Paragraph (1) only applies if the Borrower authenticates the charge personally.
5
Paragraph (1) only applies if—
a
the charge is prepared using a procedure for doing so permitted by the land registry network, and
b
each electronic signature which the charge has, and the certification of each electronic signature, are in accordance with the provisions of a network access agreement.
6
A procedure within paragraph (5)(a) may, whether or not it is the only procedure within that sub-paragraph, require all or any of the provisions specified in Schedule 1 to be drafted automatically using an E-MD reference.
7
Schedule 1 (which makes provision about the contents of an electronic legal charge) has effect.
8
In this rule —
“Joint Borrower” means, where the Borrower comprises two or more persons, one of those persons, and
“joint proprietor” means, where the proprietor of a registered estate comprises two or more persons, one of those persons.