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Section 92 Effective registration of amendment to statutory pledgeI1I2C1

Scotland

(1)

The registration of an amendment to a statutory pledge is ineffective if—

(a)

the entry for the statutory pledge in the statutory pledges record—

(i)

does not include a copy of the amendment document, or

(ii)

is, in consequence of the amendment, seriously misleading as a result of an inaccuracy or inaccuracies in it, or

(b)

the amendment document is invalid.

(2)

But subsection (1)(a)(ii) is subject to section 94(1)(c) and (d).

(3)

Where the registration of an amendment to a statutory pledge is ineffective by virtue of subsection (1), it becomes effective if and when the entry as amended 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. 92 not in force at Royal Assent, see s. 121(2)

I2

S. 92 in force at 1.4.2025 by S.S.I. 2024/378, reg. 2