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ARTICLE · 09 MARCH 2016

Regulatory Changes To The Ontario Repair And Storage Lien Regime

Aird & Berlis LLP
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On December 18, 2015, the Government of Ontario announced important impending changes to Ontario's storage and repair laws, designed largely to improve vehicle storage and repair practices and to lower associated costs.

CanadaFinance and Banking
Aird & Berlis LLP
Aird & Berlis LLP
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On December 18, 2015, the Government of Ontario announced important impending changes to Ontario's storage and repair laws, designed largely to improve vehicle storage and repair practices and to lower associated costs. Key changes to the Ontario Repair and Storage Liens Act will take effect on July 1, 2016, and will benefit vehicle owners, the asset-based finance industry and insurers.

Reducing the Notice Period to Owners and Lienholders

Under the current Act and regulations, persons storing vehicles are permitted to accumulate storage charges for up to 60 days before being required to give notice to the owner or other interested parties of the costs and any attendant possessory lien. This two-month notice period can lead to significant and unpredictable costs to owners and lienholders.

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