The Prescription (Scotland) Act 2018, which is based on proposals of the Scottish Law Commission, received Royal Assent on 18 December.

The Act is principally intended to clarify the period from which time starts to run where a person seeking damages is not fully aware of the circumstances of their loss or who caused it. However it also amends the law around the 20 year period when an obligation is finally extinguished, the law on relevant claims, including in situations of insolvency, the ability to contract out of the Act and on the burden of proof. 

Apart from certain general provisions, it comes into force on a day or days to be appointed.

Click here to view the terms of the Act.