Credit Act 1984

An assignment to a credit provider whether absolute or by way of security or otherwise made by a natural person of or in respect of all or any part of his right, title or interest, whether actual or expectant, in possession, remainder or reversion or contingent, or of any nature whatsoever, in or under any will, codicil or deed or in, under or to the estate of any deceased person, whether the decease of that person was before or after the making of the assignment or before or after the commencement of this section, shall not be of any force or validity unless the assignment is in writing and was executed by the person in the presence of a prescribed person and is certified by a prescribed person as provided in subsection (2).

The prescribed person shall read over and explain or cause to be read over and explained in his presence to the assignor the assignment and shall examine the assignor touching his knowledge of the assignment and if he thinks fit may so examine him separately and apart from any other person and if he is satisfied that the assignor understands the true purport and effect of the assignment and freely and voluntarily executes it he shall certify in writing upon the assignment that the assignment has been so read over and explained and that he has examined the assignor and is satisfied as required by this section and that the assignor has executed the assignment in his presence.

This section does not apply to an assignment made only for the purpose of vesting property in the person entitled to it under or by virtue of the provisions of a will, codicil or deed or as a person entitled to property as part of the estate of a deceased person, or to an assignment made by a person to whom that property has been actually conveyed, assigned or transferred.

An assignment executed in pursuance of this section shall not be impeached upon any ground whatsoever except in the case of fraud or any kind of imposition.

In this section—