Moveable Transactions (Scotland) Act 2023 (asp 3)

Valid from 01/04/2025

Part 2 S Security over Moveable Property

Chapter 1 S Pledge

Property encumbered by statutory pledge: effect of transfer by provider S

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

If a secured creditor acquiesces, expressly or impliedly, in a provider’s transfer of encumbered property (or any part of it) to a third party, other than by means of granting the consent mentioned in section 51(2), the statutory pledge under which the property (or part) was encumbered is extinguished.

Commencement Information

I1 S. 52 not in force at Royal Assent, see s. 121(2)