SCHEDULE 1CONTENTS OF AN ELECTRONIC LEGAL CHARGE

1

To be within rule 3(1), a charge must contain the following—

a

the title number and description of the property that is charged,

b

a provision that the charge takes effect when the registrar receives notification, using a procedure for doing so permitted by the land registry network and in accordance with the provision in the charge required by sub-paragraph (c), that the charge is to take effect,

c

a provision that the Subscriber who prepared the charge under rule 3(5)(a) is the person who is to notify the registrar that the charge is to take effect,

d

the Borrower’s name,

e

the E-MD reference, if any, applicable to the charge,

f

the Lender’s name and intended address for service for entry in the register,

g

if the Lender is a company registered in any part of the United Kingdom under the Companies Acts or the Companies (Northern Ireland) Order 19864, the Lender’s registered number,

h

if the Lender is a limited liability partnership incorporated under the Limited Liability Partnerships Act 20005, the Lender’s registered number,

i

if the Lender is a corporation incorporated outside the United Kingdom, the territory in which the Lender is incorporated and the Lender’s registered number, if any, in England and Wales,

j

a statement to the effect that the Borrower (stating, if desired, whether with full or limited title guarantee) charges to the Lender the property referred to in sub-paragraph (a) by way of legal mortgage with payment of all money secured by the charge,

k

a statement, if such be the case, that the Lender is under an obligation to make further advances and applies for the obligation to be entered in the register, and

l

a statement, if such be the case, that the Borrower applies to enter a standard form of restriction in the proprietorship register of the registered estate that is charged and, if so, the wording of the standard form of restriction.