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Amendments to The Personal Property Security Act
June 29, 2020Important amendments to The Personal Property Security Act, 1993 and regulations come into force on June 22, 2020 that address a number of issues including:
- security interests in electronic chattel paper,
- payment of debts and transfers of negotiable property by electronic funds transfer; and
- account debtor rights.
Saskatchewan has long been a leader in the development and operation of personal property law and registries in Canada. Saskatchewan is the first Canadian jurisdiction to implement these recommendations from the Canadian Conference on Personal Property Security Law. These changes will ensure that this commercial advantage is maintained for Saskatchewan businesses and consumers.
The amendments can be found on Publications Saskatchewan: https://publications.saskatchewan.ca/#/products/101547