Register of Inhibitions meaning

Administrator appointed by the court Where the court appoints an administrator under paragraph 11, Schedule B1 to the Insolvency Act 1986 (IA 1986), following an application by the company, its directors and/or any one or more of its creditors, the title deeds must contain certified copies of: the administration order; and any subsequent order(s) under IA 1986, Sch B1, paras 91–95 appointing a new administrator on the death, resignation or removal of the original or any successor The Administrator must also register a notice of appointment at: Companies House; and the Register of Inhibitions, using a form that complies with the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 (ISCVAAR 2018), SI 2018/1082, r 3.27 Administrator appointed by holder(s) of qualifying charge, the company or its directors Where appointment is made by the holder(s) of a qualifying floating charge (under IA 1986, Sch B1, para 14) or by the company or its directors...

A glossary of frequently used terms and phrases in Scottish Private Client law, with the closest England and Wales equivalents (where applicable) and links to helpful websites Ab intestato Meaning From someone who dies without a will; describes property taken under the laws of intestate succession. Nearest English equivalent None Action of specific implement Meaning A court action seeking an order compelling a party to carry out a particular act. In Scotland there is no division between equitable and legal remedies, unlike England and Wales. Nearest English equivalent Specific performance (an equitable remedy for breach of contract that can be ordered alongside, or in place of, damages) Advance notice Meaning An entry in the relevant property register that protects the grantee of a deed intended for registration in the Land Register of Scotland. The protected period of 35 days begins on the day after registration....

This Practice Note explores title restrictions under the Land Registration Act 2002 (LRA 2002). It examines why and how a restriction is placed on a title, the circumstances for its entry or removal, the prescribed restriction forms, who can seek one, and the steps for compliance. It further addresses the use of restrictions to safeguard beneficial interests in land, such as under a trust of land or where property is co-owned. What is a restriction? A restriction is a register entry that controls the conditions under which a disposition of a registered estate or charge can be entered on the register. bar registration of any disposition, or a particular class of disposition operate without limit, or for a fixed duration stated in the restriction remain in force only until a named event occurs, for example service of notice or receipt of consent Although ‘disposition’ is not defined in the LRA 2002, it encompasses transfers, leases, charges and easements that require...

This is a glossary of common words and expressions used in Scottish insolvency law with the nearest England and Wales insolvency law equivalent (where relevant) Absolute insolvency Meaning: When a person’s liabilities are greater than the overall worth of their assets. Nearest English equivalent: Balance sheet insolvency. Accountant in Bankruptcy (AiB) Meaning: A Scottish Government agency overseeing the regulation of personal bankruptcy (sequestration and Protected Trust Deeds) in Scotland, and able to serve as trustee in sequestrations where no insolvency practitioner is appointed. It also maintains records of corporate insolvencies in Scotland (receivership and liquidations only) but does not perform the role of Official Receiver. See Practice Note: Scotland: the Accountant in Bankruptcy. Nearest English equivalent: N/A. Accountant of Court Meaning: A court-appointed officer within Scottish Courts and Tribunals who administers funds consigned to the Accountant of Court pursuant to a Court of Session interlocutor or during liquidation proceedings. They oversee Judicial Factors or Administrators appointed by the Court to manage estates...