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Moveable Transactions (Scotland) Act 2023
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This version of this provision is prospective.
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Moveable Transactions (Scotland) Act 2023, Section 95 is up to date with all changes known to be in force on or before 24 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Section 95:
- s. 95 coming into force by S.S.I. 2024/378 reg. 2
Prospective
95Power of Scottish Ministers in relation to duration of statutory pledgeS
This section has no associated Explanatory Notes
(1)The Scottish Ministers may by regulations—
(a)specify a period from the creation or renewal of an entry in the statutory pledges record at the end of which the statutory pledge to which the entry relates will be extinguished and the entry removed, unless during that period the entry has been—
(i)renewed by virtue of paragraph (b), or
(ii)removed, and
(b)enable an application to be made by the secured creditor for the renewal of an entry which would otherwise fall to be removed by virtue of paragraph (a).
(2)Before laying a draft of a Scottish statutory instrument containing regulations under subsection (1) before the Scottish Parliament, the Scottish Ministers must consult the Keeper.
Commencement Information
I1S. 95 not in force at Royal Assent, see s. 121(2)
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