216.The conveyancing statutes contain many provisions, often extremely detailed, relating to old forms of heritable security which are now rarely encountered in practice. Section 69 enables many of these obsolete provisions to be swept away. It does this by providing that the forms and procedures used in relation to standard securities - the modern form of security over land - can be used, with any appropriate modifications, in relation to older forms of heritable security such as the bond and disposition in security.
Explanatory Notes Commentary on Sections Part 6: Miscellaneous Section 69:  Application of 1970 Act to earlier forms of heritable security