Though The Personal Property Security Act has functioned well for the seven years it has been in place, it is in need of sufficient amendment to warrant its repeal and replacement. Most importantly, this approach would allow harmonization of the personal property security law of Western Canada. The Commission proposes a draft of a new Act.
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.