The Moveable Transactions (Scotland) Act 2023 (Financial Collateral Arrangements and Financial Instruments) (Consequential Provisions and Modifications) Order 2025
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Change 1
18 Secured creditor’s right to appropriate financial instrument
In addition to the grounds set out in subsection (2) of section 73 of the Act (secured creditor’s right to appropriate), it is not competent to appropriate by virtue of subsection (1) of that section a financial instrument payable to the bearer, unless that instrument is in the possession of the secured creditor.
18 Secured creditor’s right to appropriate financial instrument
In addition to the grounds set out in subsection (2) of section 73 of the Act (secured creditor’s right to appropriate), it is not competent to appropriate by virtue of subsection (1) of that section a financial instrument payable to the bearer, unless that instrument is in the possession of the secured creditor.
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