The requirement for improved efficiency whilst maintaining system security necessitates the development of improved system analysis approaches and the development of advanced emergency control technologies. Load shedding is a type of emergency control that is designed to ensure system stability by curtailing system load to match generation supply. This paper presents a new adaptive load shedding scheme that provides emergency protection against excess frequency decline, whilst minimizing the risk of line overloading. The proposed load shedding scheme uses the local frequency rate information to adapt the load shedding behaviour to suit the size and location of the experienced disturbance. The proposed scheme is tested in simulation on a 3-region, 10-generator sample system and shows good performance.