No certificate of registration of charge for limited company standard security 5.26 In view of the fact that the time limit for registration of a charge in the Companies Register is 21 days  from  the  date  of  registration,  the  Keeper  allows  60  days  for  production  of  the  certificate  of registration of the charge. If the certificate is not produced within the 60 days period, registration will proceed  with  an  appropriate  exclusion  of  indemnity.  The  Keeper  will  not  revert  to  the  submitting agent. Stamp duty 5.27 If a deed is incorrectly stamped or, on the face of it, should have been stamped, the Keeper will submit the deed to the Inland Revenue for marking. If stamp duty is payable the deed will be returned to the agent who will be given 60 days to have the deed stamped. Failure  to do so will result in cancellation of the application. Simplification of deeds relating to registered interests 5.28 Once an interest in land has been registered subsequent deeds relating to that interest will no longer be framed in the same way and with the same clauses as deeds presented either for recording in the Sasine Register or for first registration. Section 15 relates solely to registered interests and seeks to simplify deeds in four ways: (1) Description of subjects By virtue of section 15(1) there is no place in registration of title neither for a description of lands by general  name  nor  for  descriptions  by  statutory  reference.  Section  15(1)  provides  that  it  shall  be sufficient in a description of land in respect of a registered interest if it is described by reference to the title number of the registered interest. Rule 25 and schedule B further amplify this. If the whole of an interest in land is being dealt with the reference to the title number (i.e. the number of  the  title  sheet)  is  sufficient  on  its  own.  Schedule  B  suggests  the  interest  be  described  as  ‘the subjects registered under Title Number(s) ...’. It is suggested that the description should also include a brief postal address, as this could be useful as a ‘signpost’ if inadvertently there is a transposition of numbers within the title number. For a conveyance or other deed dealing with a part only of the lands comprised in a registered title, in other words a transfer of part, the description of the part conveyed or otherwise dealt with will effectively comprise two parts. Firstly, the part being dealt with will have to be identified. This will almost  invariably  require  reference  to  a  plan  showing  figured  dimensions  for  the  boundaries.  The description will then go on to narrate that the subjects form ‘part of the subjects registered under title number ...’ (see note (a) to schedule B). Alternatively, schedule B provides that the subjects can be described  by  exception:  ‘All  and  whole  the  subjects  registered  under  Title  Number(s)  ...  with  the exception of ...’. Note (b) to schedule B makes provision for the situation whereby several subjects are registered under the one title number and it is desired to specify one or more of them. In such instances the subjects can be distinguished by referring to, for example, ‘the subjects (first) registered under Title Number ...’ or say ‘the subjects (first) and (third) registered under Title Number ...’.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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