‘No right to institutions’ for independent Scotland

An independent Scotland would not have an “automatic right” to share institutions such as the Bank of England, headed by governor Mark Carney, a leading lawyer has claimed.

Mark Carney is Governor of the Bank of England. Picture: Getty

In an article published in the Edinburgh Law Review, Rod MacLeod of Tods Murray solicitors argues that international law does not allow for government institutions to be divided up like ordinary assets.

Mr MacLeod said: “In the absence of an agreement to share institutions located outside of Scotland, such as the Bank of England, Scotland would not have an automatic right to a share of those institutions.

“Institutions are the sum of their parts, made up of personnel, expertise, institutional knowledge and know-how in addition to more identifiable assets such as bricks and mortar and computer systems.”