Fee proposals for registers introduced by the Moveable Transactions (Scotland) Act

The following fees are proposed for registration in the Register of Assignations (RoA) and Register of Statutory Pledges (RSP):

• To register an Assignation document in the RoA – £80
  • Where an Assignation document assigns different claims to different assignees - £80 for each claim for which registration is applied for.
• To register a Statutory Pledge document or an Amendment of Statutory Pledge document in the RSP – £80.
  • Where a Statutory Pledge document creates more than one Statutory Pledge - £80 for each Statutory Pledge for which registration is applied for.
  • Where an Amendment of Statutory Pledge document amends more than one RSP Record entry - £80 for each RSP Record entry amended.

The following fees are proposed for correction in the Register of Assignations (RoA) and Register of Statutory Pledges (RSP):

• For correction of the RoA under section 29(1) (correction by Court Direction) - £0
• For correction of the RoA under section 29(2) (manifest inaccuracy correction by Keeper) - £0
• For correction of the RSP under S.96(1) (correction by secured creditor) - £20 per record corrected
• For correction of the RSP under S.98(6) (correction by correction demand) - £20 per record corrected
• For correction of the RSP under S.100(1) (correction by court direction) - £0
• For correction of the RSP under S.100(2) (manifest inaccuracy correction by the Keeper) - £0.

It is proposed that, where an applicant for registration of an Amendment of a Statutory Pledge under S.88(1) also corrects the Record under S.96(1) (correction by secured creditor), the fee should be £80 for each entry affected.

The following fees are proposed for rejection in the Register of Assignations and Register of Statutory Pledges:

• Where an application for registration is rejected under either S.23(4) (Assignation), S.86(3) (Statutory Pledge) or S.88(3) (Amendment of Statutory Pledge), or any combination of same, the fee will be £0.
• Where an application for correction is rejected under either S.96(3) (correction by secured creditor) or S.99(2) (correction by correction demand), the fee will be £0.

It is proposed that the fees for searching either of the Register of Assignations or Register of Statutory Pledges through the Registers of Scotland online system (including a nil return) will mirror the ScotLIS search fee for the Keeper’s other registers as at the date that both new registers go live, which fee is currently £3 and is subject to review.

The following fees are proposed for Extracts from the Register of Assignations (RoA) and Register of Statutory Pledges (RSP):

• Extract of an entry, or part of an entry, in the RoA or RSP Record - £35.
• Extract of an entry, or part of an entry, or of a document, or part of a document, from the RoA or RSP Archive Record - £35.

The following fees are proposed for plain copies from the Register of Assignations (RoA) and Register of Statutory Pledges (RSP):

• Plain copy of an entry, or part of an entry, in the RoA or RSP Record - £25.
• Plain copy of an entry, or part of an entry, or of a document, or part of a document, from the RoA or RSP Archive Record - £25.
• Plain copy of a document issued at date of application for registration - £20.

The following fees are proposed for requests to inspect the Register of Assignations (RoA) and Register of Statutory Pledges (RSP):

• Request for inspection of one entry (including response) in either the RoA or RSP Record - £30.

It is proposed that the Keeper should have the power to vary Register of Assignation (RoA) and Register of Statutory Pledges (RSP) fees between Fees Orders, up to a maximum of £10, with such limitations and conditions as Scottish Ministers may impose, all is specified by Fees Order’.