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Moveable Transactions (Scotland) Act 2023
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96Application by secured creditor for correction of statutory pledges recordS
This section has no associated Explanatory Notes
(1)A relevant person may apply to the Keeper for an entry in the statutory pledges record to be corrected.
(2)The Keeper must accept the application if—
(a)it conforms to such RSP Rules as relate to the application, and
(b)either—
(i)such fee as is payable for the correction 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.
(4)For the purposes of subsection (1), “relevant person”—
(a)means the person who is the secured creditor in relation to the entry (whether or not identified as such in the entry), and
(b)where the statutory pledge has been assigned, also includes the person who was the secured creditor before the assignation.
Modifications etc. (not altering text)
C1Pt. 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)
Commencement Information
I1S. 96 not in force at Royal Assent, see s. 121(2)
I2S. 96 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2
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