Saskatchewan’s out-dated consumer credit legislation needs to be reformed to better address the needs of consumers. This is a final report based on the Commission’s earlier tentative proposals. The Commission recommends enactment of two statutes: The Consumer Credit Act and The Pawnbrokers Act. These proposals reflect current thinking in the area of consumer protection.
This Handbook offers an in depth look at the Saskatchewan Personal Property Security Act. Information is provided on the content of the Act, including basic explanations of the provisions of the Act and of relevant case law that has emerged. The authors offer their opinions on the strengths and weaknesses of the legislation and provide commentary where appropriate.
These proposals are meant to act as a supplement to The Personal Property Security Act that was enacted in 1980. They are designed to enhance consumer protection in credit transactions.
This report follows the Commission’s tentative proposals on personal property security law. Draft legislation is included to introduce the technical proposals. Background information on basic characteristics of the proposed Act is also included.
A personal property security transaction occurs when a person borrows money or purchases something on credit and gives the lender or seller security for the debt. The law in this area has developed chaotically. As a result, the Commission has decided to undertake a study of personal property law in the province with a final report to be submitted to the Attorney General.