THE NEW PROVINCIAL CHATTEL SECURITY LAW REGIMES
AbstractIn 1967, Ontario adopted the Personal Property Security Act 1967, which was a Canadian adaptation of Article 9 of the American Uniform Commercial Code. Since then the four Western provinces have adopted similar legislation and more provinces are expected to follow suit in the foreseeable future. This article describes the history of the personal property security legislation in some detail as well as successive efforts by the Canadian Bar Association the Uniform Law Conference of Canada and, more recently, the Western provinces to promote harmonization of legislation among the provinces, it assesses the operational impact of the legislation, and it discusses some key policy issues and problems that are common to all the Acts. The author concludes that the new legislation is now solidly entrenched in , Canada. However, he regrets the fact that it has taken so long to reach this point and that many important differences remain between the Ontario Act and the legislation adopted in the Western provinces.
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