Moveable Transactions (Scotland) Act 2023 (asp 3)

Prospective

Part 1 S Assignation

Chapter 2 S Register of Assignations

Registration process S

23 Application for registration S

(1) An assignee may apply to the Keeper for registration of an assignation document.

(2) The Keeper must deal with applications in the order in which they are received.

(3) The Keeper must accept the application if—

(a) it is submitted with a copy of the assignation document,

(b) it contains all the information the Keeper requires in accordance with section 21 to be able to make up an entry for the assignation document under section 25(1),

(c) it conforms to such RoA Rules as relate to the application, and

(d) either—

(i) such fee as is payable for the registration is paid, or

(ii) arrangements satisfactory to the Keeper are made for payment of that fee.

(4) If the requirements of subsection (3) are not satisfied, the Keeper must reject the application and inform the applicant accordingly.

Commencement Information

I1 S. 23 not in force at Royal Assent, see s. 121(2)

24 Application for registration where claims assigned to different assignees S

(1) Where an assignation document assigns different claims to different assignees, each assignee may apply to the Keeper for registration of the document only in so far as it assigns a claim to that assignee (“the applicant”).

(2) A reference in this Part, in relation to an assignation document in respect of which such an application has been accepted by the Keeper, to—

(a) the registration of the document is a reference to the registration of the document in so far as it assigns a claim to the applicant,

(b) the assignee under the document is a reference to the applicant,

(c) a claim assigned by the document is a reference to a claim assigned by the document to the applicant.

Commencement Information

I2 S. 24 not in force at Royal Assent, see s. 121(2)

25 Registration S

(1) On accepting an application made under section 23, the Keeper must—

(a) make up an entry for the assignation document (from the assignation document, the information provided in the application and the circumstances of registration),

(b) allocate a registration number to the entry (based on the order in which applications are dealt with), and

(c) maintain the entry in the assignations record.

(2) An assignation document is taken to be registered on the date and at the time entered for it for the purpose of section 21(1)(j).

Commencement Information

I3 S. 25 not in force at Royal Assent, see s. 121(2)

26 Verification statement S

(1) After the registration of an assignation document under section 25, the Keeper must issue a written statement verifying the registration to—

(a) the assignor, and

(b) the assignee,

but only if and to the extent that the application made under section 23 contains an email address for those persons.

(2) That statement must—

(a) include—

(i) the date and time of the registration, and

(ii) the registration number allocated to the entry made up for the assignation document, and

(b) conform to such RoA Rules as relate to the statement.

(3) Where a statement is issued under subsection (1) and is received by the assignee but not the assignor, the assignor may request a copy of it from the assignee.

(4) Within 21 days beginning with the day a request is made under subsection (3), the assignee must supply the assignor with the copy requested.

Commencement Information

I4 S. 26 not in force at Royal Assent, see s. 121(2)