{
  "url": "https://openlegislation.uk/moveable-transactions-scotland-act-2023-financial-collateral-arrangements-and-financial-instruments-consequential-provisions-and-modifications-order-2025/article-2",
  "json_url": "https://openlegislation.uk/moveable-transactions-scotland-act-2023-financial-collateral-arrangements-and-financial-instruments-consequential-provisions-and-modifications-order-2025/article-2.json",
  "legislation": "uksi/2025/275",
  "legislation_title": "The Moveable Transactions (Scotland) Act 2023 (Financial Collateral Arrangements and Financial Instruments) (Consequential Provisions and Modifications) Order 2025",
  "legislation_url": "https://openlegislation.uk/moveable-transactions-scotland-act-2023-financial-collateral-arrangements-and-financial-instruments-consequential-provisions-and-modifications-order-2025",
  "path": "article/2",
  "kind": "article",
  "number": "2",
  "heading": "Interpretation",
  "text": "In this Order—\n“the Act” means the Moveable Transactions (Scotland) Act 2023;\n“amendment document” has the meaning given by section 113(1) of the Act;\n“assignation document” has the meaning given by section 41(1) of the Act;\n“claim” has the meaning given by section 41(1) of the Act;\n“collateral-taker”, “financial collateral arrangement”, “financial collateral”, “financial instruments”, “security financial collateral arrangement” and “title transfer financial collateral arrangement”, and references to control or possession of financial collateral or a financial instrument, are to be construed in accordance with regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003;\n“constitutive document” is to be construed in accordance with section 45 of the Act;\n“encumbered property” has the meaning given by section 113(1) of the Act;\n“pledge enforcement notice” has the meaning given by section 113(1) of the Act;\n“provider” has the meaning given by section 113(1) of the Act;\n“right in security” has the meaning given by section 113(1) of the Act;\n“secured creditor” has the meaning given by section 113(1) of the Act;\n“statutory pledge” has the meaning given by section 113(1) of the Act;\n“unregistered statutory pledge” means a pledge created under article 7(2) of this Order which has not been registered under section 48 or 49 of the Act.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2023 asp 3."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "S.I. 2003/3226."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/275/article/2",
    "retrieved_at": "2026-10-28T21:19:20.164094+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}