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Act, 1924.

granting money for the purposes of these loans comes into operation, and in accordance with the provisions of the National Debt and Local Loans Act, 1887.

50 & 51 Vict.

c. 16.

as asset of

2. Whereas it is expedient that the principal of the Certain local loan specified in the table contained in the Schedule debt not to to this Act should, to the extent specified in the last be reckoned column of that table, not be reckoned as an asset of the local loans local loans fund established under the National Debt fund. and Local Loans Act, 1887:

Now, therefore, the principal of the said loan to the extent aforesaid shall be written off from the assets of the local loans fund, and the provisions of section fifteen of the said Act shall, so far as applicable, apply thereto.

of arrears
of principal
and interest

3. Whereas in pursuance of an agreement made in Remission the year eighteen hundred and ninety-two the sum of ten thousand pounds was advanced by the Public Works Loan Commissioners to the Eyemouth Harbour Trustees on the security of the harbour revenues with the Eyemouth collateral security of the Fishery Board for Scotland: Harbour

in respect of

loan. And whereas by an arrangement confirmed by section three of the Public Works Loans Act, 1901, the 1 Edw. 7. liability of the Eyemouth Harbour Trustees in respect c. 35. of the said loan was extinguished without prejudice to the liability of the Fishery Board for Scotland to repay the said loan, and in consequence thereof the said collateral security is the sole security for the repayment of the said loan:

And whereas the terms of the said collateral security are embodied in a memorandum of agreement between the Secretary for Scotland and the Public Works Loan Commissioners, dated the eleventh day of March, eighteen hundred and ninety-two, whereby a portion of the surplus herring brand fees as defined in clause three of the said memorandum was pledged in security for the repayment of the said loan with interest by the instalments and at the times mentioned in the security given by the Eyemouth Harbour Trustees for the said loan, and it was provided that the said portion of the surplus herring brand fees of any one year should only be applicable to the repayment of one-fiftieth part of principal and interest on outstanding principal falling due under the

Short title.

Act, 1924.

security for the said loan in the same year, and should not be applicable to the repayment of arrears of principal:

And whereas the said portion of the surplus herring brand fees so pledged as aforesaid was in the year ending the thirty-first day of March, nineteen hundred and twenty-four, insufficient to discharge in full the instalment of principal with interest which fell due under the security for the said loan in that year, and the principal sum of two hundred pounds with interest amounting to one hundred and twenty-five pounds seven shillings now remains unpaid, and under the terms of the said memorandum of agreement is irrecoverable:

Now, therefore, the said principal sum of two hundred pounds shall be extinguished, and the said arrears of interest amounting to one hundred and twenty-five pounds seven shillings shall be remitted.

4. This Act may be cited as the Public Works Loans Act, 1924.

Section 2.

SCHEDULE.

LOANS BY THE PUBLIC WORKS LOAN COMMISSIONERS.

LOAN UNDER THE HARBOURS AND PASSING TOLLS ACT, 1861. (24 & 25 Vict. c. 47.)

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Act, 1924.

CHAPTER 27.

An Act to amend the Law of Conveyancing in
Scotland.
[1st August 1924.]

By

E it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:

1. (1) This Act may be cited as the Conveyancing Short title, extent and (Scotland) Act, 1924. commence

(2) This Act shall, except where otherwise provided, ment of come into operation on the first day of January, nineteen Act. hundred and twenty-five.

(3) This Act shall apply to Scotland only.

2. The words and expressions after mentioned or Interpretareferred to shall have the several meanings hereby tion clause. assigned to them, unless there be something in the subject

or context repugnant to such construction (that is to

say) :

(1) The words and expressions used in this Act and
in the schedules annexed to this Act which are
interpreted in the Titles to Land Consolidation 31 & 32 Vict.
(Scotland) Act, 1868, and the Conveyancing c. 101.
(Scotland) Act, 1874, shall have the meaning 37 & 38 Vict.
assigned thereto respectively by these Acts,
subject to the following qualifications:-

(a) "Land" or "lands" shall not include
"securities ";

(b) "Heritable securities" and "securities shall include real burdens and securities by way of ground annual, which either appear in the appropriate Register of Sasines as a burden on the land out of which they are payable or are contained in a deed the recording of which in such Register on behalf of the original creditor would infeft him therein and in the land out of which the same are payable, or either of them, and securities over a lease, but shall not include securities constituted by ex facie absolute disposition; and

c. 94.

20 & 21 Vict. c. 20.

Act, 1924.

(c) "Conveyance" and "deed" and "instrument" shall include all deeds, notices of title, decrees, petitions and writings specified in this Act; and these words and the words and "decree" occurring

"" 66

"writing," writ "

in the said Acts and in this Act shall each mean and include an extract or office copy of such conveyance, ""deed," "instrument," writing," writ or "decree":

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(2) "Extract" and "office copy "shall each mean and include a duly authenticated extract of any act, decree or warrant of the Lords of Council and Session, or any inferior court, or a duly authenticated extract or office copy from the Register of the Great Seal, or from the Books of Council and Session, or of any sheriff court, or of any other public authentic register of probative writs, or from the appropriate Register of Sasines, of any conveyance, deed, instrument, writing, writ or decree, and shall also mean and include a probate of the will or testamentary settlement of a person deceased issued by any court of probate in England or Northern Ireland, or in any part of His Majesty's Dominions, or an exemplification of such probate :

(3)

"Deduction of title " shall mean the specification
in a deed, decree or instrument of the writ or
series of writs (without narration of the contents
thereof) by which the person granting such deed
or in whose favour such decree is conceived or
by whom such instrument is expede, has acquired
right from the person from whom such title is
deduced, and such specification shall be a com-
pliance with an instruction to "deduce" a title
in terms of this Act:

(4) "Adjudication " shall include adjudication
whether for debt or in implement, and consti-
tution and adjudication whether for debt or in
implement, and declarator and adjudication:
(5) "Lease" shall mean a lease which has been
registered or is registrable in the Register of
Sasines in virtue of the Registration of Leases
(Scotland) Act, 1857, and Acts amending the

same:

Act, 1924.

(6) "Law agent" shall mean and include writers to the signet, solicitors in the supreme courts, procurators in any sheriff court, and every person entitled to practise as an agent in a court of law in Scotland:

(7) "Agent" in the Schedules hereto shall mean law agent or notary public:

(8) "Register of Sasines" shall mean and include the General Register of Sasines, the Particular Registers of Sasines now discontinued, the Register of Sasines kept for any royal or other burgh and the Register of Booking in the burgh of Paisley.

3. If a disposition of land, or an assignation, dis- Disposition, charge or deed of restriction of a heritable security duly &c. by perrecorded in the appropriate Register of Sasines, or of any son uninfeft. part of such security, is granted by a person having a right to such land, or to such heritable security, or such part thereof, but whose title to such land or heritable security or part thereof has not been completed by being so recorded, and who in such disposition or other deed deduces his title from the person last infeft or having the last recorded title, in or as nearly as may be in the terms of Form No. 1 of Schedule A to this Act in the case of land, or in or as nearly as may be in manner prescribed in Note 2 to Schedule K to this Act in the case of a heritable security, then on such disposition or other deed being recorded in the appropriate Register of Sasines, the title of the grantee thereof shall be in all respects in the same position as if his title were completed as at the date of such recording by notarial instrument duly expede and recorded according to the present law and practice; and the provisions of section one hundred and forty-six of the Titles to Land Consolidation (Scotland) Act, 1868, shall apply to such disposition.

4. Any person having right either to land or to a Completion heritable security by a title which has not been completed of title. by being recorded in the appropriate Register of Sasines, may complete his title in manner following:

(1) A person having such right to land may complete
a title thereto by recording in the appropriate
Register of Sasines a notice of title in or as nearly
as may be in the terms of Form No. 1 of

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