Moveable Transactions (Scotland) Act 2023 (asp 3)

Part 2 Security over Moveable Property

Chapter 2 Register of Statutory Pledges

Effective registration

92 Effective registration of amendment to statutory pledge

(1) The registration of an amendment to a statutory pledge is ineffective if—

(a) the entry for the statutory pledge in the statutory pledges record—

(i) does not include a copy of the amendment document, or

(ii) is, in consequence of the amendment, seriously misleading as a result of an inaccuracy or inaccuracies in it, or

(b) the amendment document is invalid.

(2) But subsection (1)(a)(ii) is subject to section 94(1)(c) and (d).

(3) Where the registration of an amendment to a statutory pledge is ineffective by virtue of subsection (1), it becomes effective if and when the entry as amended is corrected.