Moveable Transactions (Scotland) Act 2023

The Moveable Transactions (Scotland) Bill was passed on 4 May 2023 by the Scottish Parliament and received Royal Assent on 13 June 2023 and it is expected to come into force next year.

The Moveable Transactions (Scotland) Act 2023 (Act) modernises and simplifies the law relating to the transfer of rights and creates a new form of security over moveable property with the expectation that it will dramatically improve the ability of businesses to raise finance in Scotland. The Act will impact the business community, particularly lenders, borrowers and insolvency practitioners.

Download our PDF for an overview of some of its key provisions.