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ARTICLE · 03 FEBRUARY 2022

Modernization Of The British Columbia Personal Property Registry

McCarthy Tétrault
McCarthy Tétrault
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On January 25, 2022 the British Columbia Personal Property Registry (the "PPR") was replaced with a new online platform as part of the BC Registries and Online Services' modernization initiative.

CanadaFinance and Banking
Liezl Behm
Liezl Behm
Genevieve Loxley
Genevieve Loxley
Joannie Fu
Joannie Fu
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Modernization

On January 25, 2022 the British Columbia Personal Property Registry (the "PPR") was replaced with a new online platform as part of the BC Registries and Online Services' modernization initiative. Amendments to the Personal Property Security Regulation, B.C. Reg. 227/2002  and Miscellaneous Registrations Regulation, B.C. Reg. 81/2004 (collectively, the "Amendments") came into force and effect on the same date.

The Amendments

Approved by Order in Council on December 13, 2021, the Amendments reflect changes to the registration system under the PPR. For example, prior to the Amendments the PPR stipulated that a debtor's name in a financing statement had to be limited to 25 characters, whereas pursuant to the Amendments, the PPR now accepts a debtor's full name regardless of length. This modernization in respect of the permitted length of the debtor's name in financing statements is notable as an incorrect debtor name can invalidate a PPR

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