Search Legislation

Moveable Transactions (Scotland) Act 2023

 Help about what version

What Version

 Help about opening options

Opening Options

Status:

This is the original version (as it was originally enacted).

Interpretation of Part 2

113Interpretation of Part 2

(1)In this Part (except where the context requires otherwise)—

  • amendment document” has the meaning given by section 58(1),

  • the archive record” is to be construed in accordance with section 84,

  • corporeal moveable property” does not include money,

  • correction”, in relation to the statutory pledges record, is to be construed in accordance with section 101(2),

  • encumbered property” has the meaning given by section 43(2),

  • inaccuracy”, in relation to the statutory pledges record, is to be construed in accordance with section 101(1),

  • money” has the meaning given by section 175(1) of the Bankruptcy and Diligence etc. (Scotland) Act 2007,

  • pledge”, in sections 64 to 77, is to be construed in accordance with section 63,

  • pledge enforcement notice” has the meaning given by section 65(1),

  • provider”—

    (a)

    means the person who grants a pledge, and

    (b)

    includes or, as the case may be, consists of any successor in title, or representative, of a provider (unless the successor or representative is a person who, by virtue of Chapter 1, had acquired the encumbered property unencumbered by the statutory pledge in question),

  • the register” means the Register of Statutory Pledges,

  • right in security”—

    (a)

    means a right in security over property (including a floating charge), but

    (b)

    does not include a right to execute diligence,

  • RSP Rules” has the meaning given by section 111(1),

  • secured creditor”—

    (a)

    means the person in whose favour a pledge is granted, and

    (b)

    includes or, as the case may be, consists of any successor in title, or representative, of a secured creditor,

  • secured obligation” is to be construed in accordance with section 43(1),

  • statutory pledge” has the meaning given by section 42(4), and

  • the statutory pledges record” is to be construed in accordance with section 83(2).

(2)Where two or more persons are co-providers or co-secured creditors in relation to a statutory pledge, any reference in this Act to the provider or secured creditor (as the case may be) is, unless the context requires otherwise, a reference to all of those persons.

(3)A reference in this Part

(a)to a statutory pledge being registered (however expressed) is to be construed as a reference to the Keeper’s carrying out, in respect of the pledge, the duties imposed on the Keeper by section 87(1)(a) and (b),

(b)to an amendment to a statutory pledge being registered (however expressed) is to be construed as a reference to the Keeper’s carrying out, in respect of the amendment, the duty imposed on the Keeper by section 89(1).

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Show Explanatory Notes for Sections: Displays relevant parts of the explanatory notes interweaved within the legislation content.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

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.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources