On June 1, 2024, major changes to secured transactions law and judgment enforcement law will come into effect. The changes to the Personal Property Security Act are the most extensive set of amendments since the coming into force of that Act in 1990, and are accompanied by corresponding amendments to the Civil Enforcement Act.
Notable among the multiple changes implemented are those that will:
- Accommodate cross-collateralization by inventory financers and the refinancing of purchase money debt
- Facilitate agricultural financing by strengthening production money security agreements, recognizing licenses and quotas as collateral, and eliminating administrative obstacles
- Recognize technological advances by introducing new provisions governing electronic chattel paper and secured party rights in electronically transferred funds
- Rationalize registration requirements for serial number consumer goods and equipment
- Improve the reliability of registry searches through rules that specify invalidating registration errors
- Strengthen the buyer protection rules
- Simplify registration and search practices for cross-jurisdictional debtors through updated choice of law rules
- Align the priority rules of the Civil Enforcement Act with those of the PPSA
LESA is pleased to offer a PPSA Update program on June 5, available to attend in Edmonton or via livestream. Join Professor Tamara M. Buckwold and Professor Roderick J. Wood from the University of Alberta, Faculty of Law to explore the amendments and their impact on your practice.
If multiple lawyers or staff members from your firm would like to attend this program, please contact [email protected] for pricing. To receive discounted group pricing, you must contact us prior to the first registration from your firm.
