S. 4 not in force at Royal Assent, see s. 9(2)

S. 4 in force at 1.7.2026 by S.S.I. 2026/197, reg. 2(d)

http://www.legislation.gov.uk/asp/2026/12/section/4Digital Assets (Scotland) Act 2026enStatute Law Database2026-07-01Expert Participation2026-07-01
4Acquisition of ownership(1)

Any rule of law in relation to the acquisition of ownership applies, in connection with digital assets, on the basis that—

(a)

a digital asset is to be treated as though it were a corporeal moveable (despite section 2),

(b)

control of a digital asset is to be treated as physical possession of it.

(2)

But a person (“the transferee”) becomes the owner of a digital asset, despite the person who transferred control of the asset to the transferee (“the transferor”) not being the asset’s owner, if—

(a)

the circumstances of the transfer were such that, but for the transferor not being the asset’s owner, it would have resulted in the transferee becoming the asset’s owner, and

(b)

the transferee took the asset in good faith and for value.

(3)

Where a person (“the transferee”) acquires ownership of a digital asset from a person whose title as owner of the asset is defective, the transferee’s title is free from that defect provided the transferee took the asset in good faith and for value.

(4)

In subsection (1), “rule of law” does not include an enactment.