Both in section 486(1) of the Companies Act 1985 and in section 70(1) of the Insolvency Act 1986, in the definition of “fixed security”—
(a)the words from “a heritable security” to “1970” become paragraph (a) of the definition, and
(b)after that paragraph insert “; or
(b)a statutory pledge within the meaning given by section 113(1) of the Moveable Transactions (Scotland) Act 2023;”.