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Companies (Floating Charges) (Scotland) Act 1961

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This is the original version (as it was originally enacted).

8Interpretation

(1)In this Act unless the context otherwise requires—

(a)" Act of 1948 " means the [11 & 12 Geo. 6. c. 38.] Companies Act, 1948, as amended by any other Act including this Act;

(b)" company " means a company to which section one of this Act relates ;

(c)" fixed security " in relation to any property of a company means any security, other than a floating charge or a charge having the nature of a floating charge, which on the winding-up of the company in Scotland would be treated as an effective security over that property, and (without prejudice to that generality) includes a security over that property created by way of an ex facie absolute disposition or assignation qualified by a back letter;

(d)references to registration in relation to a floating charge are references to the delivery to or receipt by the registrar of companies, in accordance with section one hundred and six A of the Act of 1948, for registration, of the prescribed particulars of the charge, and " registrar " shall be construed accordingly.

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