7
In forceSecurity interests relating to new access licences
7 Security interests relating to new access licences
(1)
A dealing under section 74 is not to be recorded in the Access Register unless the consent of any holder of a security interest in the extinguished holdings of the original access licence has been obtained.
(2)
Any security interests that subsisted in the extinguished holdings, as in force immediately before they were extinguished, become equivalent interests in the new access licence.
This Act’s bill:Explanatory memorandumSecond reading speech
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