Scotland: Moveable Transactions Act 2023—assignations, statutory pledges, new registers and enforcement: implications for secured lending, invoice finance and insolvency

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

STOP PRESS :

The Moveable Transactions (Scotland) Act 2023 (the Act) took effect on 1 April 2025, together with the following connected regulations:

The Moveable Transactions (Register of Assignations and Register of Statutory Pledges Rules) (Scotland) Regulations 2024, SSI 2024/381, which set out rules for the Register of Assignations and the Register of Statutory Pledges under the Act;
The Moveable Transactions (Forms) (Scotland) Regulations 2024, SSI 2024/379, prescribing the form of a pledge enforcement notice and the form of a correction demand under the Act;
The Moveable Transactions (Scotland) Act 2023 (Financial Collateral Arrangements and Financial Instruments) (Consequential Provisions and Modifications) Order 2025, SSI 2025/275, bringing financial collateral arrangements and financial instruments within the scope of the reforms;
The Registers of Scotland (Fees and Plain Copies) Miscellaneous Amendments Order 2025, SSI 2025/103.

General overview of the changes

In Scots law, property is divided into heritable property (land, buildings and rights over land) and moveable property (everything else). Moveable property can be corporeal or incorporeal. Corporeal property is essentially tangible and includes items such as plant and machinery and work in progress. Incorporeal property is intangible and includes things such as intellectual property, debts and receivables. The Moveable, as outlined above...

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Ainslie Benzie

TLT

Ainslie Benzie heads up the restructuring and insolvency practice for TLT LLP in Scotland.Ainslie has vast experience in advising lenders, insolvency practitioners, corporates and their directors on all aspects of restructuring, turnaround and insolvency. She has acted for clients across a full spectrum of sectors and commercial issues, working on assignments locally, nationally and internationally.Ainslie has completed four secondments to three different UK clearing banks, working in both legal and relationship manager roles which have given her an in-depth insight into the restructuring process.Ainslie’s expertise and reputation in the market is evidenced through her regular recognition in both Chambers and Partners (as an Associate to Watch) and Legal 500 (as a Rising Star) having been described as "extremely knowledgeable” and “very strong from a commercial and strategic point of view and handles matters very quickly and effectively”....

Tessa Durham

TLT

Tessa is a knowledge lawyer in UK law firm TLT’s banking and restructuring team. She specialises in restructuring and insolvency law and has a particular interest in complex personal insolvency issues.Tessa has extensive practical experience in contentious and non-contentious corporate and complex personal insolvency law and has completed a secondment with the Barclays Business Support Legal Team in London. Prior to becoming a knowledge lawyer she advised banks on enhancement and enforcement of security. She also regularly advised insolvency practitioners on appointments, trading issues, disposals of businesses and assets and court applications. Tessa works closely with the restructuring and insolvency team and their clients, delivering training, responding to technical queries and coordinating, producing and maintaining internal and external guidance....

Web page updated on 21/05/2026

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