Laura Purves

This is one of a series of articles we are producing to guide finance companies through the wholesale change proposed in Scots law in relation to security over goods and intellectual property, on the one hand, and invoice finance or the purchase of receivables, on the other. For a general introduction to what the Bill covers, see this article. The Moveable Transactions (Scotland) Bill was passed by the Scottish Parliament on 4 May 2023 and is expected to be implemented in the summer of 2024, so, while statutory instruments will be required before it can become effective law, it is now timely to start preparing for the new regime. This article is concerned with some of the key provisions of the Bill itself and, in particular, how the registers to be set up will be used by finance companies on a day-to-day basis.

The Scottish National Investment Bank Act 2020 received Royal Asset on 25 February 2020 (the "Act") but most of its provisions only came into force on 16 September 2020.  Now that the Act is fully in force, what does the Act do and what is the Scottish National Investment Bank ("SNIB") set up to do?    

Acquisition of assets When companies are looking to raise finance, usually in order to acquire equipment for use in their business, there are different stages at which the asset financier may become involved.