§ Mr. BuchanI beg to move Amendment No. 40, in page 13, line 13, after ' by ', insert ' a variation contained in '.
I suggest, Mr. Deputy Speaker, that with this Amendment we might also take Amendments Nos. 41, 42 and 43.
§ Mr. BuchanThese Amendments tighten the drafting. The Clause deals with variations in the provisions of a standard security after it has been recorded. Changes in the terms of a recorded security may be made either by deed which is recorded in the register or in a deed which need not be recorded. As the Clause is at present drafted, our worry was that it suggested that we were looking for a distinction in the terminology between the two methods of effecting change, but that is not so.
The point arises because the word " variation " appears to be used as meaning a change made by deed which goes in the record, while " operation " is used to mean a change made by deed which is not required to go on the record. We did not mean any such thing, so we are amending the Clause accordingly to make the matter absolutely clear.
§ Amendment agreed to.
§ Further Amendments made: No. 41, in page 13, line 14, leave out ' an alteration ' and insert ' a variation '.
§ No. 42, in line 15, leave out ' as a variation '.
§ No. 43, in line 25, leave out ' alteration ' and insert ' variation '.—[Mr. Buchan.]