There are currently no known outstanding effects for the Moveable Transactions (Scotland) Act 2023, Section 101.
(1)There is an “inaccuracy” in the statutory pledges record where the record misstates what the position is, in law or in fact, in relation to a statutory pledge.
(2)A correction of the statutory pledges record—
(a)may relate to an inaccuracy—
(i)which has existed since an entry in the record was made up, or
(ii)which has arisen due to circumstances that have occurred since the submission of the application in respect of which the entry was made up, and
(b)may involve—
(i)the removal of an entry,
(ii)the removal of information included in an entry,
(iii)the amendment of, or an addition to, the information, or replacement of a copy document, included in an entry,
(iv)the restoration of information, or of a copy document, to an entry,
(v)the restoration of an entry (whether or not by transferring it from the archive record to the statutory pledges record).
(3)A correction is taken to be made on the date and at the time entered for it in the register in pursuance of a provision of this Part.
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. 101 not in force at Royal Assent, see s. 121(2)
I2S. 101 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2
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