Section 91 Effective registration of statutory pledgeI1I2C1
Scotland
The registration of a statutory pledge is ineffective if—
the entry made up for the statutory pledge in the statutory pledges record—
does not include a copy of the constitutive document, or
is, at the time of registration, seriously misleading as a result of an inaccuracy or inaccuracies in it, or
the constitutive document is invalid.
But subsection (1)(a)(ii) is subject to section 94(1)(c) and (d).
Where the registration of a statutory pledge is ineffective by virtue of subsection (1), it becomes effective if and when the entry is corrected.
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. 91 not in force at Royal Assent, see s. 121(2)
- I2
S. 91 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2