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Moveable Transactions (Scotland) Act 2023

  • Nodiadau Esboniadol Tabl o’r Cynnwys

Please note:

All reference to 'Parts' and 'sections' are from the Moveable Transactions (Scotland) Act 2023. For more information about understanding Explanatory Notes Rhagor o Adnoddau.

  1. Introduction

  2. The Act

  3. Overview of the Act

  4. Commentary on Sections

    1. Part 1 – Assignation

      1. Chapter 1 – Assignation of claims, protection of debtors and related matters

        1. Assignation of claims

          1. Section 1 – Assignation of claims: general

          2. Section 2 – Assignation of claim subject to a condition

          3. Section 3 – Transfer of claims

          4. Section 4 – Assignation of claims: insolvency

          5. Section 5 – Assignation in part

          6. Section 6 – Limitations as to assignability: general

          7. Section 7 – Claim in respect of wages or salary

          8. Section 8 – Intimation of the assignation of a claim

          9. Section 9 – Warrandice implied in the assignation of a claim

        2. Protection of debtors

          1. Section 10 – Protection of debtor who performs in good faith

          2. Section 11 – Further provision as to protection of debtor

          3. Section 12 – Performance in good faith where claim assigned cannot be transferred by intimation

          4. Section 13 – Performance in good faith where claim assigned subject to condition

          5. Section 14 – Asserting defence or right of compensation

          6. Section 15 – Right to withhold performance until information as to assignation is provided

        3. Accessory security rights

          1. Section 16 – Accessory security rights

        4. Example 3

        5. Abolition of certain rules of law

          1. Section 17 – Abolition of certain rules of law

        6. Saving

          1. Section 18 – Saving as respects International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015

      2. Chapter 2 – Register of Assignations

        1. Register of Assignations

          1. Section 19 – The Register of Assignations

        2. Structure and contents of the register

          1. Section 20 – The parts of the register

          2. Section 21 – The assignations record

          3. Section 22 – The archive record

        3. Registration process

          1. Section 23 – Application for registration

          2. Section 24 – Application for registration where claims assigned to different assignees

          3. Section 25 – Registration

          4. Section 26 – Verification statement

        4. Effective registration

          1. Section 27 – Effective registration of assignation document

          2. Section 28 – Seriously misleading inaccuracies in the assignations record

        5. Corrections

          1. Section 29 – Correction of the assignations record

          2. Section 30 – Correction of assignations record: procedure

          3. Section 31 – Proceedings involving the accuracy of the assignations record

          4. Section 32 – Power to make provision about applications for corrections

        6. Searches and extracts

          1. Section 33 – Searching the assignations record

          2. Section 34 – Admissibility and evidential status of search results

          3. Section 35 – Extracts and their evidential status

        7. Request for information

          1. Section 36 – Assignee’s duty to respond to request for information

        8. Entitlement to compensation

          1. Section 37 – Liability of Keeper

          2. Section 38 – Liability of certain other persons

        9. Rules

          1. Section 39 – RoA Rules

      3. Chapter 3 – Miscellaneous and interpretation of Part 1

        1. Section 40 – Repeal of Transmission of Moveable Property (Scotland) Act 1862

        2. Section 41 – Interpretation of Part 1

    2. Part 2 – Security over Moveable Property

      1. Chapter 1 - Pledge

        1. Pledge, secured obligation and encumbered property

          1. Section 42 – Pledge

          2. Section 43 – Secured obligation and encumbered property

        2. Possessory pledge

          1. Section 44 – Delivery

        3. Statutory pledge

          1. Section 45 – Constitutive document

          2. Section 46 – Competence of individual acting as provider of a statutory pledge

          3. Section 47 – Competence of creating statutory pledge over certain kinds of property

          4. Section 48 – Creation of statutory pledge by registration: general

          5. Section 49 – Creation of statutory pledge over added property

          6. Section 50 – Creation of statutory pledge: insolvency

        4. Property encumbered by statutory pledge: effect of transfer by provider

          1. Section 51 – Property encumbered by statutory pledge: transfer by provider

          2. Section 52 – Extinction of statutory pledge where dealings inconsistent with a fixed security

          3. Section 53 – Acquisition in good faith from seller acting in ordinary course of business

          4. Section 54 – Acquisition in good faith for personal, domestic or household purposes

          5. Section 55 – Acquisition in good faith of motor vehicles

        5. Rights relating to matrimonial or family home where relevant to a statutory pledge

          1. Section 56 – Occupancy and other rights in family home following grant of statutory pledge

        6. Assignation, amendment, restriction or extinction of statutory pledge

          1. Section 57 – Assignation of statutory pledge

          2. Section 58 – Amendment of statutory pledge

          3. Section 59 – Restriction or discharge of statutory pledge

        7. Ranking of pledges etc.

          1. Section 60 – Ranking

          2. Section 61 – Amendment of Companies Act 1985 and of Insolvency Act 1986

          3. Section 62 – Effect of diligence on pledge

        8. Enforcement of pledge

          1. Section 63 – The expression “pledge” in sections 64 to 77

          2. Section 64 – Enforcement of pledge: general

          3. Section 65 – Pledge enforcement notice

          4. Section 66 – Whether court order required for enforcement

          5. Section 67 – Secured creditor’s right to take possession of, or steps in relation to, corporeal property

          6. Section 68 – Secured creditor’s right to sell

          7. Section 69 – Sale: unencumbered acquisition

          8. Section 70 – Secured creditor’s right to let

          9. Section 71 – Secured creditor’s right to grant license over intellectual property

          10. Section 72 – Secured creditor’s right to protect and manage the property

          11. Section 73 – Secured creditor’s right to appropriate

          12. Section 74 – Appropriation with prior agreement

          13. Section 75 – Appropriation without prior agreement

          14. Section 76 – Appropriation: unencumbered acquisition

          15. Section 77 – Application of proceeds from enforcement of pledge

          16. Section 78 – Mandatory application for removal of an entry from the statutory pledges record

        9. Liability for loss due to enforcement

          1. Section 79 – Liability for loss suffered by virtue of enforcement

        10. Service of documents for purposes of this Chapter

          1. Section 80 – Service of documents for purposes of this Chapter

      2. Chapter 2 – Register of Statutory Pledges

        1. Register of Statutory Pledges

          1. Section 81 – The Register of Statutory Pledges

        2. Structure and contents of the register

          1. Section 82 – The parts of the register

          2. Section 81 – The statutory pledges record

          3. Section 84 – The archive record

        3. Registration process

          1. Section 85 – Order in which applications are to be dealt with

          2. Section 86 – Application for registration of statutory pledge

          3. Section 87 – Registration of statutory pledge

          4. Section 88 – Application for registration of amendment

          5. Section 89 – Registration of amendment

          6. Section 90 – Verification statement as to registration of statutory pledge or amendment

        4. Effective registration

          1. Section 91 – Effective registration of statutory pledge

          2. Section 92 – Effective registration of amendment to statutory pledge

          3. Section 93 – Supervening inaccuracies: protection of third parties

          4. Section 94 – Seriously misleading inaccuracies in the statutory pledges record

        5. Duration

          1. Section 95 – Power of Scottish Ministers as regards duration of statutory pledge

        6. Corrections

          1. Section 96 – Application by secured creditor for correction of statutory pledges record

          2. Section 97 – Correction of record in response to application under section 96

          3. Section 98 – Demand that application for correction be made under section 96

          4. Section 99 – Response to application for correction under section 98(6)

          5. Section 100 – Correction of the statutory pledges record at instance of the court or the Keeper

          6. Section 101 – Meaning of “inaccuracy” and how a correction is made

          7. Section 102 – Correction of statutory pledges record: procedure

          8. Section 103 – Proceedings involving the accuracy of the statutory pledges record

        7. Searches and extracts

          1. Section 104 – Searching the statutory pledges record

          2. Section 105 – Admissibility and evidential status of search results

          3. Section 106 – Extracts and their evidential status

        8. Request for information

          1. Section 107 – Secured creditor’s duty to respond to request for information

          2. Section 108 – Acquisition of property confirmed by creditor not to be encumbered property

        9. Entitlement to compensation

          1. Section 109 – Liability of Keeper

          2. Section 110 – Liability of certain other persons

        10. Rules

          1. Section 111 – RSP Rules

      3. Chapter 3 – Miscellaneous and interpretation of Part 2

        1. Section 112 – Competence of creating an agricultural charge

        2. Section 113 – Interpretation of Part 2

    3. Part 3 – Miscellaneous and General

      1. Computer system

        1. Section 114 – Automated computer system

      2. Registration of electronic documents

        1. Section 115 – Competence of registration of electronic documents

      3. Good faith

        1. Section 116 – Good faith

      4. Review of the Act

        1. Section 117 – Review of Act

      5. General

        1. Section 118 – Regulations

        2. Section 119 – Ancillary provision

        3. Section 120 – Interpretation of Act

        4. Section 121 – Commencement

        5. Section 122 – Short title

  5. Parliamentary History

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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.

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