Explanatory Notes

Moveable Transactions (Scotland) Act 2023

2023 asp 3

13 June 2023

Commentary on Sections

Part 1 โ€“ Assignation

Chapter 2 โ€“ Register of Assignations
Structure and contents of the register
Section 22 โ€“ The archive record

115.This section sets out that the archive record consists ofโ€”

116.Entries will not move from the assignation record to the archive record simply because the claim which is the subject of the assignation is performed. The assignations record is simply a record of assignation documents which have been granted and which the assignee has chosen to register. It is a snapshot of a moment in time, rather than an ongoing reflection of the status of the claim. However, an entry may be transferred to the archive record if a correction is made to reflect the fact that the entry should never have been created. For example, if a fraudulent assignation document is registered, a correction may be made to remove the entry.