Section 61 Amendment of Companies Act 1985 and Insolvency Act 1986I1I2C1
Scotland
Both in section 486(1) of the Companies Act 1985 and in section 70(1) of the Insolvency Act 1986, in the definition of “fixed security”—
the words from “a heritable security” to “1970” become paragraph (a) of the definition, and
after that paragraph insert
“; or
(b)a statutory pledge within the meaning given by section 113(1) of the Moveable Transactions (Scotland) Act 2023;”.
Annotations
Modifications
- C1
Pt. 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
- I1
S. 61 not in force at Royal Assent, see s. 121(2)
- I2
S. 61 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2