Chwilio Deddfwriaeth

Moveable Transactions (Scotland) Act 2023

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41Interpretation of Part 1
Nodiadau EsboniadolDangos EN

(1)In this Part (except where the context requires otherwise)—

  • the archive record” is to be construed in accordance with section 22,

  • assignation” means assignation of a claim,

  • assignation document” has the meaning given by section 1(1),

  • the assignations record” is to be construed in accordance with section 21(2),

  • assignee” means the person to whom a claim is assigned,

  • assignor” means the person by whom a claim is assigned,

  • claim”—

    (a)

    means a right to the performance of an obligation (including an obligation not to do something), but

    (b)

    does not include a non-monetary right relating to land or a negotiable instrument,

  • correction”, in relation to the assignations record, is to be construed in accordance with section 29(4),

  • debtor” means the person against whom a claim may be enforced,

  • holder”, in relation to a claim, means the person who has the right to performance of an obligation under the claim,

  • inaccuracy”, in relation to the assignations record, is to be construed in accordance with section 29(3),

  • the register” means the Register of Assignations,

  • right in security”—

    (a)

    means a right in security over property (including a floating charge), but

    (b)

    does not include a right to execute diligence,

  • RoA Rules” has the meaning given by section 39(1).

(2)Where two or more persons are co-assignors or co-assignees in relation to a claim, any reference in this Act to the assignor or assignee (as the case may be) is, unless the context requires otherwise, a reference to all of those persons.

(3)A reference (however expressed) in this Part to—

(a)an assignation document having been granted in respect of a claim is to be construed as a reference to the document having been executed or authenticated,

(b)an assignation document being registered is to be construed as a reference to the Keeper’s carrying out, in respect of the document, the duties imposed on the Keeper by section 25(1)(a) and (b).

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