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The Personal Property Security Amendment and Various Acts Amendment Act

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S.M. 1997, c. 24

THE PERSONAL PROPERTY SECURITY AMENDMENT AND VARIOUS ACTS AMENDMENT ACT


 

(Assented to June 28, 1997)

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

S.M. 1993, c. 14 amended

1         The Personal Property Security and Consequential Amendments Act, as enacted by S.M. 1993, c. 14, is amended by this Act.

2         Section 1 is amended

(a) in the part preceding clause (a) of the English version of the definition "commercial consignment", by striking out "consignor who;" and substituting "consignor who";

(b) in clause (a) of the English version of the definition "default", by striking out "or," and substituting ", or";

(c) in the English version of the definition "goods", by striking out everything after "security," and substituting "money, trees that are not crops until they are severed, or minerals until they are extracted";

(d) in clause (d) of the definition "inventory", by adding "materials" before "used"; and

(e) in clause (c) of the English version of the definition "purchase money security interest", by striking out "that" and substituting "than".

3         Clause 5(3)(b) of the English version is amended by striking out "later that" and substituting "later than".

4         Section 9 is amended by striking out "between the parties to the agreement and against third parties".

5         Clause 17(3)(b) of the English version is amended by striking out "party" and substituting "party,".

6(1)      Subsection 18(4) of the English version is amended by striking out "security agreement of" and substituting "security agreement or".

6(2)       Subsection 18(15) of the English version is amended in the part following clause (b) by striking out "relies" and substituting "relied".

7         Subsection 30(1) is amended in the definition "buyer of goods" by striking out "party," and substituting "party".

8(1)      Subclause 35(1)(a)(i) of the English version is amended by adding "the" after "attachment of".

8(2)      The following is added after subsection 35(9):

Real property lease payments

35(10)    A security interest in a right to payment under a lease of real property to which this Act applies is subordinate to the interest of a person who acquires for value the lessor's interest in the lease or in the real property thereby demised if the interest, or notice of the interest, of the person is registered against the land before the interest or notice of the secured party is registered against the land.

9         Clause 36(14)(f) of the English version is amended by striking out "date than" and substituting "date that".

10(1)     Subclause 41(7)(a)(i) of the English version is amended by striking out "to made" and substituting "to be made".

10(2)     Subsection 41(9) of the English version is amended by striking out "asignor" and substituting "assignor".

11        Subsection 42(3) of the English version is amended by striking out "registry" and substituting "Registry".

12(1)     Subsection 43(2) of the English version is amended

(a)  by striking out "at"; and

(b) by striking out "registry" and substituting "Registry".

12(2)     Subsection 43(7) of the English version is amended by striking out "registry" and substituting "Registry".

13        Subsection 44(4) of the English version is amended by striking out "part" and substituting "Part".

14        Subsection 46(2) of the English version is amended

(a) in the section heading and in the part preceding clause (a), by striking out "registry" and substituting "Registry"; and

(b) in clause (d), by striking out "the discharge of" and substituting "the discharge or".

15(1)     Subsection 49(2) is repealed and the following is substituted:

L.T.O. registration re fixture, crop or lease

49(2)     A security interest

(a) in a fixture referred to in section 36;

(b) in a growing crop referred to in section 37; or

(c) in a right to payment under a lease of real property referred to in subsection 35(10);

may be registered by causing a notice in the prescribed form to be recorded upon the land to which the fixture is affixed, or to which the lease relates, or upon which the crops are growing.

15(2)     Subsection 49(4) is amended by striking out "or discharge" and substituting ", discharge or partial discharge".

15(3)     Subsection 49(6) is amended by striking out "discharged" and substituting "discharged or partially discharged".

15(4)     Subsection 49(8) is amended

(a) in clause (b), by striking out "or discharged" and substituting ", discharged or partially discharged"; and

(b) in the part that follows clause (c), by striking out "or discharge" and substituting ", discharge or partially discharge".

15(5)     Subsection 49(9) is amended by striking out "or discharge" wherever it occurs and substituting ", discharge or partially discharge".

16        Clause 50(4)(b) of the English version is amended by adding "as" after "registration,".

17        Clause 51(1)(c) of the English version is amended in the part preceding subclause (i) by striking out " the 15 days" and substituting "the 15 days,".

18        Subsection 53(3) is amended by striking out "interest" and substituting "interests".

19         The following is added after subsection 55(4):

Enforcement where same obligation secured

55(5)     Subject to any other Act or rule of law to the contrary, where the same obligation is secured by an interest in land and by a security interest to which this Act applies, the secured party may

(a) proceed under this Part as to the personal property; or

(b) proceed as to both the land and the personal property, in which case the secured party shall proceed as against the personal property in accordance with the secured party's rights, remedies and obligations in respect of the land, as if the personal property were land, and this Part does not apply.

Exception

55(6)     Clause (5)(b) does not limit the rights of a secured party who has a security interest in the personal property taken before or after the security interest referred to in subsection (5).

Secured party re court proceedings

55(7)     A secured party referred to in subsection (6)

(a) has standing in proceedings taken in accordance with clause (5)(b); and

(b) may apply to the court to require proceedings pertaining to the personal property to be dealt with in accordance with clause (5)(a).

Distributing proceeds of sale

55(8)     For the purpose of distributing the proceeds realized from the sale of both land and personal property where the purchase price is not allocated to each separately, the amount that is attributable to the sale of the personal property is that proportion of the total proceeds that the market value of the personal property at the time of the sale bears to the market value of the land and the personal property at the time of the sale.

20        Subclause 56(2)(a)(iii) of the English version is amended by striking out "rights remedies" and substituting "rights, remedies".

21(1)     Clause 59(7)(f) is amended by striking out "agreement, on the curing of any other default" and substituting "agreement, and on the curing of any other default,".

21(2)     Subsection 59(12) is amended by striking out "section 72 or" and substituting "section 68 or,".

21(3)     The following is added after subsection 59(17):

Notice of repossession under Consumer Protection Act

59(18)    Where a notice of repossessing collateral is required to be given to a debtor under The Consumer Protection Act, the giving of the notice to a person in a form that complies with that Act is deemed to be compliance with any requirement under subsections (6) and (10) to give notice to the person.

22        Clause 60(2)(c) of the English version is amended by striking out "debtor of" and substituting "debtor or".

23(1)     Subsection 61(1) is amended by striking out "section 64" and substituting "section 65".

23(2)     Clause 61(2)(b) of the English version is amended

(a) in subclause (i),

(i) by striking out "serial number" and substituting "the serial number of", and

(ii) by striking out "by the regulations"; and

(b) in subclause (ii), by striking out "of the time of" and substituting "at the time the".

23(3)     Subsection 61(5) of the English version is amended by striking out "or if it is to be given to a person who has registered a financing statement" and substituting "or, where it is to be given to a person who has registered a financing statement,".

24(1)     Clause 64(2)(b) is repealed and the following is substituted:

(b) as soon as possible and not later than 10 days after becoming a receiver, register a prescribed notice in the Registry disclosing the appointment and specifying an office in the province where the records referred to in clause (d) shall be maintained;

24(2)     Subsection 64(2) is amended by striking out "and" at the end of clause (f), by adding "and" at the end of clause (g) and by adding the following after clause (g):

(h) on termination of the receivership, discharge the notice registered under clause (b).

25        Subsection 65(7) of the English version is amended by striking out "sections 49" and substituting "section 49".

26        Section 67 is amended by striking out "Part 5" and substituting "Part 6".

27        Subsection 68(1) of the English version is amended

(a) in the part preceding clause (a), by striking out "verification" and substituting "confirmation";

(b) in paragraph (b)(i)(B), by striking out "having at" and substituting "having, at"; and

(c) in paragraph (b)(ii)(C), by striking out "having at the time of the delivery" and substituting "having, at the time of the delivery,".

28        Section 72 is amended

(a) in clause (c), by striking out "Registrar" and substituting "Registry";

(b) in clause (q), by striking out "party" and substituting "party, debtor or other person"; and

(c) by adding the following after clause (r):

(s) respecting the circumstances in which the address or other information about a debtor or secured party may be withheld from a search of the Registry and respecting the terms and conditions governing an application to have information withheld.

29(1)     Subsection 73(1) is amended by adding the following definition in alphabetical order:

"prereform security interest" means a security interest created, reserved or provided for by a valid security agreement or other transaction made before prior law came into force, that is a security interest within the meaning of this Act and to which this Act would have applied if it had been in force at the time the security agreement or other transaction was made; (« sûreté antérieure à la réforme »)

29(2)     Clause 73(3)(c) is amended by striking out "prior security interest" and substituting "prereform security interest or prior security interest".

29(3)     Subsection 73(5) is amended

(a) in the section heading, by striking out "prior security interest" and substituting "prereform or prior security interest"; and

(b) in the subsection, by striking out "prior security interest" and substituting "prereform security interest or prior security interest".

29(4)     Subsection 73(6) is amended

(a) in the section heading, by striking out "prior security interest" and substituting "prereform or prior security interest"; and

(b) in the subsection, by striking out "prior security interest" and substituting "prereform security interest or prior security interest".

29(5)     Subsection 73(7) is repealed and the following is substituted:

Order of priorities determined by prereform law

73(7)     The order of priorities

(a) between a prereform security interest and a prior security interest;

(b) between a prereform security interest and the interest of a third party; and

(c) between a prereform security interest and a security interest arising after this Act comes into force;

is determined by prereform law.

30(1)     Subsection 74(2) is amended by striking out "prior security interest" and substituting "prereform security interest or prior security interest"

(a) in the part preceding clause (a); and

(b) in clause (a).

30(2)     Subsection 74(3) is amended

(a) by striking out "A prior security interest" and substituting "A prereform security interest or prior security interest"; and

(b) in the English version by striking out "subsection (2)," and substituting "subsection (2)".

30(3)     Subsection 74(5) is amended by striking out "prior security interest" and substituting "prereform security interest or prior security interest".

30(4)     Subsection 74(6) of the English version is amended by striking out "a six months" and substituting "six months".

30(5)     Subsection 74(8) of the English version is amended in the part preceding clause (a) by striking out "tort" and substituting "tort,".

30(6)     Subsection 74(9) is amended by striking out "and buyers" and substituting ", buyers, judgment creditors or the trustee in bankruptcy of the debtors".

AMENDMENTS TO OTHER ACTS

S.M. 1996, c. 40 amended

31(1)     The Contaminated Sites Remediation and Consequential Amendments Act, as enacted by S.M. 1996, c. 40, is amended by this section.

31(2)     Subsection 37(2) is amended by striking out "clause 3(1)(a)" and substituting "clause 4(a)".

31(3)     Subsection 37(5) is repealed.

C.C.S.M. c. G10 amended

32(1)     The Garage Keepers Act is amended by this section.

32(2)     Clause 5(1)(b) is amended by striking out "20 days" and substituting "15 days".

32(3)     Subsection 5(3) is amended

(a) by repealing the section heading and substituting "Financing statement";

(b) in the part preceding clause (a), by striking out "accompanied by an affidavit of the garage keeper in the form set out in Form 1 of the Schedule hereto"; and

(c) in clause (c), by striking out "as of the date of the affidavit,".

32(4)     Form 1 in the Schedule is repealed.

C.C.S.M. c. P31 amended

33        Clause 7(7)(b) of The Payment of Wages Act is amended by striking out "10 days" and substituting "15 days".

C.C.S.M. c. S230 amended

34(1)     The Summary Convictions Act is amended by this section.

34(2)     Subsection 23.3(1) is amended by striking out "clause 3(1)(a)" and substituting "clause 4(a)".

34(3)     Subclause 23.3(3)(b)(ii) is amended by striking out "10 days" and substituting "15 days".

34(4)     Subsection 23.3(6) is repealed.

Coming into force

35        This Act comes into force on the day The Personal Property Security and Consequential Amendments Act, S.M. 1993, c. 14, comes into force.