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 1 S Pledge

Ranking of pledges etc. S

61 Amendment of Companies Act 1985 and Insolvency Act 1986 S

Both in section 486(1) of the Companies Act 1985 and in section 70(1) of the Insolvency Act 1986, in the definition of “fixed security”—

(a) the words from “a heritable security” to “1970” become paragraph (a) of the definition, and

(b) after that paragraph insert “; or

(b) a statutory pledge within the meaning given by section 113(1) of the Moveable Transactions (Scotland) Act 2023;”.

Commencement Information

I1 S. 61 not in force at Royal Assent, see s. 121(2)

I2 S. 61 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2