Introduction and purpose
Part 7 of the Housing (Scotland) Act 2010 (the Act) sets out the legislative provisions regarding an insolvency situation in registered social landlords.
Section 73 of Part 7 provides that the Scottish Housing Regulator can determine what is meant by a "step to enforce a security" over a registered social landlord’s land.
Determination of what is meant by a step to enforce a security over a Registered Social Landlord's land
(1) Any formal step, whether or not in terms of any statutory provision, taken by a person with a view to enforcing a security over a registered social landlord’s land.
(2) A step referred to in (1) above may include, but is not limited to, the following:
(a) The issuing of any demand for payment or notice of default in terms of any agreement with the registered social landlord or in terms of the security itself;
(b) The taking of any step required in terms of Part II of the Conveyancing and Feudal Reform (Scotland) Act 1970 for the enforcement of rights under a standard security;
(c) The taking of any step required in terms of Schedule B1 to the Insolvency Act 1986 for the appointment of an administrator to the registered social landlord;
(d) The taking of any step required in terms of the Insolvency Act 1986 for the appointment of a receiver or administrative receiver over property of the registered social landlord; or
(e) The intimation of any assignation of rents or other receipts arising from land to the party against whom the assigned rights are held.