Moveable Transactions (Scotland) Act 2023

1. Introductory Text

2. Part 1 Assignation

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

      1. Assignation of claims

         1. 1. Assignation of claims: general

         2. 2. Assignation of claim subject to a condition

         3. 3. Transfer of claims

         4. 4. Assignation of claims: insolvency

         5. 5. Assignation in part

         6. 6. Limitations as to assignability: general

         7. 7. Claim in respect of wages or salary

         8. 8. Intimation of the assignation of a claim

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

      2. Protection of debtors

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

         2. 11. Further provision as to protection of debtor

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

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

         5. 14. Asserting defence or right of compensation

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

      3. Accessory security rights

         1. 16. Accessory security rights

      4. Abolition of certain rules of law

         1. 17. Abolition of certain rules of law

      5. Saving

         1. 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. 19. The Register of Assignations

      2. Structure and contents of the register

         1. 20. The parts of the register

         2. 21. The assignations record

         3. 22. The archive record

      3. Registration process

         1. 23. Application for registration

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

         3. 25. Registration

         4. 26. Verification statement

      4. Effective registration

         1. 27. Effective registration of assignation document

         2. 28. Seriously misleading inaccuracies in the assignations record

      5. Corrections

         1. 29. Correction of the assignations record

         2. 30. Correction of the assignations record: procedure

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

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

      6. Searches and extracts

         1. 33. Searching the assignations record

         2. 34. Admissibility and evidential status of search results

         3. 35. Extracts and their evidential status

      7. Requests for information

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

      8. Entitlement to compensation

         1. 37. Liability of Keeper

         2. 38. Liability of certain other persons

      9. Rules

         1. 39. Rules

   3. Chapter 3 Miscellaneous and interpretation of Part 1

      1. Miscellaneous

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

      2. Interpretation of Part 1

         1. 41. Interpretation of Part 1

3. Part 2 Security over Moveable Property

   1. Chapter 1 Pledge

      1. Pledge, secured obligation and encumbered property

         1. 42. Pledge

         2. 43. Secured obligation and encumbered property

      2. Possessory pledge

         1. 44. Delivery

      3. Statutory pledge

         1. 45. Constitutive document

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

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

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

         5. 49. Creation of statutory pledge over added property

         6. 50. Creation of statutory pledge: insolvency

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

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

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

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

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

         5. 55. Acquisition in good faith of motor vehicles

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

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

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

         1. 57. Assignation of statutory pledge

         2. 58. Amendment of statutory pledge

         3. 59. Restriction or discharge of statutory pledge

      7. Ranking of pledges etc.

         1. 60. Ranking

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

         3. 62. Effect of diligence on pledge

      8. Enforcement of pledge

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

         2. 64. Enforcement of pledge: general

         3. 65. Pledge enforcement notice

         4. 66. Whether court order required for enforcement

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

         6. 68. Secured creditor’s right to sell

         7. 69. Sale: unencumbered acquisition

         8. 70. Secured creditor’s right to let

         9. 71. Secured creditor’s right to grant licence over intellectual property

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

         11. 73. Secured creditor’s right to appropriate

         12. 74. Appropriation with prior agreement

         13. 75. Appropriation without prior agreement

         14. 76. Appropriation: unencumbered acquisition

         15. 77. Application of proceeds from enforcement of pledge

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

      9. Liability for loss due to enforcement

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

      10. Service of documents for purposes of this Chapter

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

   2. Chapter 2 Register of Statutory Pledges

      1. Register of Statutory Pledges

         1. 81. The Register of Statutory Pledges

      2. Structure and contents of the register

         1. 82. The parts of the register

         2. 83. The statutory pledges record

         3. 84. The archive record

      3. Registration process

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

         2. 86. Application for registration of statutory pledge

         3. 87. Registration of statutory pledge

         4. 88. Application for registration of amendment

         5. 89. Registration of amendment

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

      4. Effective registration

         1. 91. Effective registration of statutory pledge

         2. 92. Effective registration of amendment to statutory pledge

         3. 93. Supervening inaccuracies: protection of third parties

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

      5. Duration

         1. 95. Power of Scottish Ministers in relation to duration of statutory pledge

      6. Corrections

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

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

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

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

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

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

         7. 102. Correction of the statutory pledges record: procedure

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

      7. Searches and extracts

         1. 104. Searching the statutory pledges record

         2. 105. Admissibility and evidential status of search results

         3. 106. Extracts and their evidential status

      8. Requests for information

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

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

      9. Entitlement to compensation

         1. 109. Liability of Keeper

         2. 110. Liability of certain other persons

      10. Rules

          1. 111. Rules

   3. Chapter 3 Miscellaneous and Interpretation of Part 2

      1. Miscellaneous

         1. 112. Competence of creating an agricultural charge

      2. Interpretation of Part 2

         1. 113. Interpretation of Part 2

4. Part 3 Miscellaneous and General

   1. Computer system

      1. 114. Automated computer system

   2. Registration of electronic documents

      1. 115. Competence of registration of electronic documents

   3. Good faith

      1. 116. Good faith

   4. Review of the Act

      1. 117. Review of Act

   5. General

      1. 118. Regulations

      2. 119. Ancillary provision

      3. 120. Interpretation of Act

      4. 121. Commencement

      5. 122. Short title