Abstract
On 13 June 2023 the long-awaited Moveable Transactions (Scotland) Act 2023 (“the 2023 Act”) became law and is expected to come fully into force in 2025. The 2023 Act introduces bold reforms to the laws governing assignation of claims and security over moveable property, which are aimed at facilitating commercial transactions in Scotland. This article examines the provisions of the 2023 Act on assignation and how they simplify the transfer of receivables in securitisations. It begins by setting out the challenges posed by current assignation law in securitisation transactions, before exploring how the 2023 Act addresses the challenges. It goes on to discuss aspects of the legislation that will limit its maximum effectiveness in this area.
| Original language | English |
|---|---|
| Journal | Juridical Review |
| Issue number | 4 (2024) |
| Publication status | Accepted/In press - 30 Aug 2024 |