Moveable Transactions (Scotland) Bill

Moveable Transactions (Scotland) Bill

The Scottish Government have introduced the Moveable Transactions (Scotland) Bill to the Scottish Parliament, taking forward the Scottish Law Commission’s Report on Moveable Transactions (Scot Law Com No 249, 2017).

Lady Paton, Chair of the Scottish Law Commission, said today:

“This Bill represents an important step forward in modernising the law of Scotland, and is particularly timely as we move, we hope, out of the pandemic.  It will open up new, more cost effective ways for businesses to obtain loans, for the benefit of themselves and the wider economy.  The reforms will promote efficiencies and will help to satisfy the needs of business in Scotland in the twenty-first century.”

The Minister for Public Finance, Planning and Community Wealth, Tom Arthur MSP, wrote to Lady Paton on 26 May to confirm the introduction of the Bill and to set out the Scottish Government’s reasons for considering that it is a suitable candidate for consideration by the Delegated Powers and Law Reform Committee as an SLC Bill link to letter, which is attached.

The Bill can be found on the Scottish Parliament’s website here.

The Scottish Government’s news release can be found here.