Praise from Faculty for Moveable Transactions (Scotland) Bill

While noting some specific elements where improvements could be made, the Faculty stated: “Generally, the Faculty considers that the Bill is a well-structured and detailed piece of legislative drafting, which will give effect to the Commission’s intentions.”

The commission’s project covered a previous project on assignation and security over incorporeal moveable property but adds to it the subject of security over corporeal moveable property: book debts (money owed but unpaid), loan books (sums due on mortgage, credit cards, car loans etc), intellectual property rights (patents etc), stock in trade, and equipment (vehicle fleets etc) all fall within the scope of the project.

Details of the consultation can be found on the commission’s website while the Faculty’s response is here.