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The Personal Property Security Amendment and Various Acts Amendment Act

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S.M. 2000, c. 6

THE PERSONAL PROPERTY SECURITY AMENDMENT AND VARIOUS ACTS AMENDMENT ACT


 

(Assented to August 2, 2000)

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, S.M. 1993, c. 14, is amended by this Act.

2         Section 1 is amended

(a) by adding the following definitions in alphabetical order:

"discharge statement" means data that is permitted or required by this or any other Act or by a regulation under this or any other Act to be entered in the Registry to discharge a registration; (« état de mainlevée »)

"financing change statement" means data that is permitted or required by this or any other Act or by a regulation under this or any other Act to be entered in the Registry to renew, partially discharge or otherwise amend a registration; (« état de modification de financement »)

(b) by repealing the definition "financing statement" and substituting the following:

"financing statement" means data that is permitted or required by this or any other Act or by a regulation under this or any other Act to be entered in the Registry to effect the registration of a security interest in collateral, and includes, where the context permits,

(a) a financing change statement,

(b) a discharge statement, and

(c) a security agreement registered before the day The Personal Property Security Act, S.M. 1973, c.5, came into force; (« état de financement »)

3         Clause 18(16)(b) is amended by striking out "prescribed financing statement is registered as provided in section 51" and substituting "financing change statement is registered as provided in section 45".

4         Clause 35(8)(a) is amended by striking out "prescribed financing statement" and substituting "financing change statement".

5         Subsection 39(5) of the English version is amended by striking out "section (1)" and substituting "subsection (1)".

6         Subsection 41(5) is amended by striking out "that the assignee had" and substituting "that the assignor had".

7(1)      Subsection 43(1) is amended by striking out "at an office of" and substituting "in".

7(2)      Subsection 43(2), as amended by The Personal Property Security Amendment and Various Acts Amendment Act, S.M. 1997, c. 24, is amended

(a) by striking out "by the Registrar" and substituting "in the Registry"; and

(b) by striking out "sequence of registration numbers in the Registry office" and substituting "registration numbers assigned to them in the Registry,".

8         Section 44 is amended

(a) in subsections (2), (3) and (4), by striking out "prescribed financing statement" wherever it occurs and substituting "financing change statement"; and

(b) in subsection (3), by striking out "prescribed statement" and substituting "financing change statement".

9         Section 45 is amended

(a) in subsections (1), (2), (5) and (6), by striking out "prescribed financing statement" wherever it occurs and substituting "financing change statement"; and

(b) in subsection (4), by adding "referred to in subsection (3) or a financing change statement" after "financing statement".

10        Clause 46(2)(b) is repealed and the following is substituted:

(b) on the receipt of a discharge statement discharging the registration or a financing change statement partially discharging the registration;

11(1)     Subsection 49(2), as amended by The Personal Property Security Amendment and Various Acts Amendment Act, S.M. 1997, c. 24, is amended in the part after clause (c) by striking out "notice in the prescribed form" and substituting "prescribed notice".

11(2)     Subsection 49(4), as amended by The Personal Property Security Amendment and Various Acts Amendment Act, S.M. 1997, c. 24, is amended

(a) by striking out "notice of a renewal" and substituting "a prescribed notice of a renewal";

(b) by striking out "notice of a subordination" and substituting "prescribed notice of a subordination"; and

(c) by striking out "as prescribed".

12(1)     Subsection 50(4), as amended by The Personal Property Security Amendment and Various Acts Amendment Act, S.M. 1997, c. 24, is amended

(a) in the part before clause (a), by striking out "a prescribed financing statement";

(b) in clause (a), by adding "a discharge statement" before "discharging";

(c) in clause (b), by striking out "amending or discharging the registration" and substituting "a discharge statement or financing change statement"; and

(d) in clause (c), by adding "a financing change statement" before "amending".

12(2)     The part of subsection 50(5) after clause (b) is amended by striking out "prescribed financing statement" and substituting "discharge statement or financing change statement".

13(1)     Subsections 51(2) and (4) are amended by striking out "prescribed financing statement" wherever it occurs and substituting "financing change statement".

13(2)     Subsection 51(3) is repealed.

14        Subsection 52(4) of the English version is amended by striking out "officer of employee" and substituting "officer or employee".

15        Subsection 64(2), as amended by The Personal Property Security Amendment and Various Acts Amendment Act, S.M. 1997, c. 24, is amended

(a) in clause (b), by striking out "prescribed notice" and substituting "financing statement or financing change statement";

(b) in clause (e), by striking out "in the form prescribed";

(c) in clause (g), by striking out everything after "duties," and substituting "prepare a final account of the administration; and"; and

(d) in clause (h), by striking out "discharge the notice registered under clause (b)" and substituting "discharge the registration of the receivership under clause (b) by registering a discharge statement or financing change statement".

16        Section 72 is amended

(a) in subclause (g)(i), by striking out "and prescribed financing statements" and substituting ", discharge statements and financing change statements"; and

(b) in clause (k), by striking out "prescribed financing statement" and substituting "discharge statement, financing change statement".

17(1)     The definition "prior security interest" in subsection 73(1) is repealed and the following is substituted:

"prior security interest" means an interest that is both

(a) a security interest as defined in The Personal Property Security Act S.M. 1973, c. 5, and to which that Act applied, and

(b) a security interest within the meaning of this Act that was created, reserved or provided for by a valid security agreement or other transaction made or entered into before this Act comes into force 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 or entered into. (« sûreté antérieure »)

17(2)     Subsection 73(11) is repealed.

18        Subsections 74(8) and (9), as amended by The Personal Property Security Amendment and Various Acts Amendment Act, S.M. 1997, c. 24, are repealed.

AMENDMENTS AFFECTING VARIOUS ACTS

S.M. 1997 c. 24 amended

19(1)     The Personal Property Security Amendment and Various Acts Amendment Act, S.M. 1997, c. 24, is amended by this section.

Amendment affecting The Contaminated Sites Remediation Act

19(2)     Subsection 31(2) is repealed and the following is substituted:

31(2)      Subsection 37(2) is amended

(a) by striking out "Despite clause 3(1)(a) of The Personal Property Security Act but subject to subsections (3) to (6) of this section" and substituting "Subject to subsections (3) to (6)"; and

(b) in the French version, by striking out "de l'article" and substituting "du paragraphe".

Amendment affecting The Garage Keepers Act

19(3)     Subsection 32(2) is repealed and the following is substituted:

32(2)     Clause 5(1)(b) is amended

(a) by striking out "20 days" and substituting "15 days"; and

(b) by striking out "in a form prescribed under that Act completed".

Amendment affecting The Payment of Wages Act

19(4)     Section 33 is repealed.

Amendment affecting The Summary Convictions Act

19(5)     Subsection 34(2) is repealed and the following is substituted:

34(2)     Subsection 23.3(1) is amended by striking out "Notwithstanding clause 3(1)(a) of The Personal Property Security Act but subject to subsections (2) to (8) of this Act" and substituting "Subject to subsections (2) to (8)".

C.C.S.M. c. H60 amended

20        Clause 242.2(17)(b) of The Highway Traffic Act is amended by striking out "Part IV" and substituting "Part 5".

Coming into force

21(1)     This Act, other than section 19, comes into force immediately after The Personal Property Security Amendment and Various Acts Amendment Act, S.M. 1997, c. 24, as amended by section 19, comes into force.

21(2)     Section 19 comes into force on royal assent.