BILL NO. 10
1st Session, 61st General Assembly
58 Elizabeth II, 2009
Personal Property Security Act
CHAPTER 26 OF THE ACTS OF 2009
The Honourable Ramona Jennex
Minister of Service Nova Scotia and Municipal Relations
First Reading: September 21, 2009 (LINK TO BILL AS INTRODUCED)
Second Reading: October 22, 2009
Third Reading: October 30, 2009
Royal Assent: November 5, 2009
Be it enacted by the Governor and Assembly as follows:
1 Clause 2(asa) of Chapter 13 of the Acts of 1995-96, the Personal Property Security Act, is repealed.
2 Clause 31(6)(b) of Chapter 13 is repealed and the following clause substituted:
3 Subsection 36(4) of Chapter 13, as amended by Chapter 13 of the Acts of 2003, is further amended by striking out "and the serial number does not contain a seriously misleading defect, irregularity, omission or error" in the seventh line and substituting "with the serial number entered into the field labelled for the receipt of serial numbers".
4 Subsection 38(8) of Chapter 13 is amended by striking out "(10)" in the fourth line and substituting "(8)".
5 Subsection 39(3) of Chapter 13 is repealed and the following subsection substituted:
6 (1) Subsections 44(1A) to (1D) of Chapter 13 are repealed.
(2) Subsection 44(7) of Chapter 13 is amended by striking out "The" in the first line and substituting "Except as otherwise provided in this Section, the".
(3) Subsections 44(8) to (8B) of Chapter 13 are repealed and the following subsections substituted:
(8A) Subject to subsections (10) and (10A), a registration is invalid if a search of the records of the Registry by serial number, as prescribed, for collateral that is consumer goods of a kind that are prescribed as serial numbered goods does not disclose the registration.
(8B) A registration disclosed other than as an exact match as a result of a search of the records of the Registry using the name of a debtor or serial number as prescribed does not mean that the registration is, by that fact alone, valid.
(4) Section 44 of Chapter 13, as amended by Chapter 13 of the Acts of 2003, is further amended by adding immediately after subsection (10) the following subsection:
7 Clause 62(4)(b) of Chapter 13 is repealed and the following clause substituted:
8 This Act comes into force on such day as the Governor in Council orders and declares by proclamation.
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