{
  "url": "https://openlegislation.uk/moveable-transactions-scotland-act-2023-financial-collateral-arrangements-and-financial-instruments-consequential-provisions-and-modifications-order-2025/article-5",
  "json_url": "https://openlegislation.uk/moveable-transactions-scotland-act-2023-financial-collateral-arrangements-and-financial-instruments-consequential-provisions-and-modifications-order-2025/article-5.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/5",
  "kind": "article",
  "number": "5",
  "heading": "Competence of creating statutory pledge over financial instrument",
  "text": "(1) It is competent to create a statutory pledge over a financial instrument.\n(2) It is also competent to create a pledge over a financial instrument in accordance with article 7; and a pledge so created is to be treated for all purposes as a statutory pledge.\n(3) Part 2 of the Act (security over moveable property) applies to a pledge created by virtue of this article subject to articles 6 to 19.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/275/article/5",
    "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."
}