Vol 15 (2018) - Issue 4

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Modernising Scottish Moveable Transactions Law

Summary

– Scots law on transfer of intangibles and fixed security over tangible and intangible moveables is cumbersome & out of date.
– Scottish Law Commission report recently published proposing pragmatic incremental reforms but not radical Personal Property Security Act.
– New modern statutory pledge proposed over corporeal moveables, intellectual property & financial instruments by registration in new register in parallel to modernised existing regimes.
– Modernised transfer of claims by registration in new register proposed in parallel to modernised existing regime.