Section 76 Appropriation: unencumbered acquisitionI1I2C1
Scotland
Where a secured creditor appropriates property by virtue of section 73(1), the secured creditor acquires the property unencumbered by any right in security or any diligence.
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. 76 not in force at Royal Assent, see s. 121(2)
- I2
S. 76 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2