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ARTICLE · 06 NOVEMBER 2015

Amendments To Ontario PPSA Location Of Debtor Rules

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The Ontario government has recently proclaimed 31 December 2015 as the effective date for amendments to the Personal Property Security Act (PPSA) of Ontario that affect the definition of the location of a debtor.

CanadaFinance and Banking
James Mathers
James Mathers
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The Ontario government has recently proclaimed 31 December 2015 as the effective date for amendments to the Personal Property Security Act (PPSA) of Ontario that affect the definition of the location of a debtor.1 The location of the debtor is important under the PPSA for determining the jurisdiction whose law will govern key issues relating to some security interests, including where a financing statement relating to the security interest must be registered.

These issues are referred to in sections 7(1) and 7.1(5) of the PPSA, which provide as follows:

7. (1) The validity, the perfection, the effect of perfection or non-perfection, and the priority,

(a) of a security interest in,

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