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Personal Property Security Act (Canada)

The Personal Property Security Act ("PPSA") is the name given to each of the statutes passed by all common law provinces, as well as the territories, of Canada that regulate the creation and registration of security interests in all personal property within their respective jurisdictions.

It is similar in structure to Article 9 of the Uniform Commercial Code in the United States, but there are important differences.[1][2][3][4][5]

History[edit]

The British Sale of Goods Act 1893 was followed closely in Canada in the first half of the twentieth century. In the 1970s it was noticed in Ontario that the law of contract had departed from the 1893 Act. To remedy this shortcoming, the Law Reform Commission proposed a new regime, which was duly enacted by the provincial government as the Uniform Sale of Goods Act.[6]

Regime under Québec legislation[edit]

For moveable property in Québec, secured creditors create their security interests by way of hypothec through the Registre des droits personnels et réels mobiliers (RDPRM).[7][8]

Bank of Montreal v. Innovation Credit Union

John R. Sandrelli, Christopher J. Ramsay and Anjili I. Bahadoorsingh,Remedies under Security Interests in Canada: An Overview (2002-09-18)

Roderick J.Wood,The Concept of a Security Interest: The Canadian Experience (2011-08-18)