426. Agricultural credits search.

A fixed or floating charge made by a farmer in favour of a bank over agricultural stock or assets is void against anyone other than the farmer himself unless the charge is registered with the Land Registry1 within seven days of its execution2. A person who is buying farming stock or assets or a mortgagee who is lending money on the security of such items should make an agricultural credits search at the Agricultural Credits Department of the Land Registry before exchange of contracts and again before completion