Modifications etc. (not altering text)
C1Pt. 1 extended (with modifications) (1.4.2025) by The Moveable Transactions (Scotland) Act 2023 (Financial Collateral Arrangements and Financial Instruments) (Consequential Provisions and Modifications) Order 2025 (S.I. 2025/275), arts. 1(2), 3 (with arts. 4, 20)
(1)Nothing in this Part affects any other enactment, or any rule of law, by virtue of which the assignation of a claim is of no effect.
(2)But such an enactment or rule of law does not apply to an assignation if the grounds on which the assignation would be of no effect by virtue of that enactment or rule are grounds which this Part provides do not make the assignation of no effect.
(3)The assignation, in whole or in part, of a claim is of no effect if and in so far as, before the [F1relevant time] —
(a)the debtor and the holder of the claim had agreed that the claim was not to be so assigned, or
(b)the person whose unilateral undertaking gives rise to the claim had stated that the claim was not to be so assigned.
[F2(3A)For the purposes of subsection (3), the “relevant time” is—
(a)where the claim is held by the holder immediately prior to the assignation document being granted in respect of the claim, the time at which the document is granted,
(b)where the claim is not held by the holder until after the assignation document is granted in respect of the claim, the time at which the claim would have otherwise transferred.]
(4)For the purposes of subsection (3)(a), it does not matter whether the holder of the claim became the holder of the claim after the agreement was made.
(5)Nothing in subsection (3) affects the operation of any other enactment concerning the effect of an agreement or statement such as is mentioned in that subsection.
Textual Amendments
F1Words in s. 6(3) substituted (1.4.2025) by The Moveable Transactions (Scotland) Act 2023 Amendment Regulations 2025 (S.S.I. 2025/104), regs. 1, 2(3)(a)
F2S. 6(3A) inserted (1.4.2025) by The Moveable Transactions (Scotland) Act 2023 Amendment Regulations 2025 (S.S.I. 2025/104), regs. 1, 2(3)(b)
Commencement Information
I1S. 6 not in force at Royal Assent, see s. 121(2)
I2S. 6 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2