Moveable Transactions (Scotland) Act 2023 (asp 3)

Part 2 S Security over Moveable Property

Modifications etc. (not altering text)

C1 Pt. 2 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), 5 (with arts. 6-20)

Chapter 2 S Register of Statutory Pledges

Registration process S

86 Application for registration of statutory pledge S

(1) A secured creditor may apply to the Keeper for registration of a statutory pledge.

(2) The Keeper must accept the application if—

(a) it is submitted with a copy of the constitutive document,

(b) it contains all the information the Keeper requires in accordance with section 83 to be able to make up an entry for the statutory pledge under section 87(1),

(c) it conforms to such RSP Rules as relate to the application, and

(d) either—

(i) such fee as is payable for the registration is paid, or

(ii) arrangements satisfactory to the Keeper are made for payment of that fee.

(3) If the requirements of subsection (2) are not satisfied, the Keeper must reject the application and inform the applicant accordingly.

Commencement Information

I1 S. 86 not in force at Royal Assent, see s. 121(2)

I2 S. 86 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2