Moveable Transactions (Scotland) Act 2023 – One Year On

In September 2024, we wrote about the Moveable Transactions (Scotland) Act 2023 (the MTA) and the potential for the reforms which the Act was implementing to accelerate Scotland's clean energy ambitions. 1 April 2026 will mark the one-year anniversary of the MTA coming into force and we therefore wanted to take the opportunity to look back at the impact it has had on project finance transactions in its first year.

Background

As a reminder, the MTA introduced once-in-a-generation reforms to the law in Scotland relating to the transfer of rights and security over moveable property.

The three primary changes which the MTA made were:

1. Modernising the law relating to assignation of rights