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Church of Scotland (Property And Endowments) Act 1925
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Changes over time for: Section 12
Version Superseded: 28/11/2004
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- 01/02/1991- Amendment
- 01/02/1991
Point in time - 28/11/2004- Amendment
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12 Charge to be substituted for liability for stipend exceeding one pound.U.K.
Where the standard value (as shown by the teind roll of a parish) of the stipend exigible from the teinds of any lands of a heritor in that parish which are comprised in one entry in the teind roll exceeds the sum of one pound—
(1)the amount of such standard value shall by virtue of this Act be constituted as at and from the first term of Whitsunday or Martinmas which shall occur after the date when the teind roll becomes final a real burden (in this Act referred to as the “standard charge”) on the lands from the teinds of which the said stipend is exigible in favour of the General Trustees preferable to all other securities or burdens not incidents of tenure;
(2)the amount of the standard charge shall be payable by equal half-yearly instalments at the terms of Whitsunday and Martinmas each half-yearly instalment being in respect of the half year preceding the date of payment and the said instalments shall be recoverable by the same means and in the like manner as any feu-duty out of the said lands would be recoverable;
(3)the standard charge over any lands may at any time after the completion of the teind roll be redeemed by and in the option of the heritor of those lands or other person liable in respect of the standard charge either (a) for such consideration or in such manner as may be agreed upon between the person liable and the General Trustees, or (b) at any term of Whitsunday or Martinmas after three months’ notice either (i) by payment to the Trustees of such a sum as would if invested at the time of payment in Consolidated 2½ per cent. annuities produce an annual sum equal to the standard charge, or (ii) by transfer to the General Trustees of such an amount of Consolidated 2½ per cent. annuities as would produce an annual sum equal to the standard charge;
(4)upon the redemption of the standard charge as aforesaid any claim upon the heritor or other person in respect of such standard charge shall cease and be extinguished and the lands from which the same was exigible shall be disburdened thereof in all time coming and an entry to that effect shall be made in the teind roll which shall be sufficient evidence of the discharge of the burden.
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