Moveable Transactions (Scotland) Act 2023

Moveable Transactions (Scotland) Act 2023

2023 asp 3

Commentary on Sections

Part 1 – Assignation

Chapter 1 – Assignation of claims, protection of debtors and related matters

Assignation of claims

Section 2 – Assignation of claim subject to a condition

11. This section provides that an assignation can be made subject to a condition which must be satisfied before the claim is transferred. For example, the assignation might be conditional on the grant of planning permission or on the assignee getting married.

12. Subsection (2) requires that the condition is set out in the assignation document, in order to enable a third party to be able to discover from the document whether there is such a condition. In the case of a registered assignation document, a copy of the document will be included in the assignations record.

13. Subsection (3) provides that a condition may relate to a thing happening, or not happening (in either case regardless of whether or not it is certain that the thing will happen). The condition can also be simply the occurrence of a specified date being reached.

14. Subsection (4) enables a condition to be specified by reference to another document (for example, the loan agreement that relates to an assignation in security).