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The Contract (Third Party Rights) (Scotland) Act 2017 (the ‘Act’) was passed by the Scottish Parliament last year and reforms third party contract rights in Scotland for the first time in over 100 years. Jennifer Antonelli and Graeme Bruce of CMS Cameron McKenna Nabarro Olswang LLP examine the impact for insolvency practitioners.
The Contract (Third Party Rights) (Scotland) Act 2017 (the ‘Act’) was passed by the Scottish Parliament on 21 September 2017. The Act received Royal Assent on 30 October 2017, and came into effect on 26 February 2018.
The Act implements the recommendations of the Scottish Law Commission and follows input from experts at committee stage at the Scottish Parliament. The Act codifies and removes uncommercial restrictions from the existing Scots common law principle of ‘jus quaesitum tertio’ (‘JQT Principle’) to allow parties to a contract to confer a right or immunity from liability on a person/entity who is not a party to the contract (a ‘third party').
To a great extent the Act brings Scots Law into alignment with English law, but with some extra sophistication.
The key points of the Act are:
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