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ARTICLE · 25 SEPTEMBER 2017

Ontario Bill 154: Perfection By VIN

Miller Thomson
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On September 14th Ontario Bill 154, Cutting Unnecessary Red Tape Act, 2017 passed first reading.

CanadaInsolvency/Bankruptcy/Re-Structuring
Jennifer Babe
Jennifer Babe
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On September 14th Ontario Bill 154, Cutting Unnecessary Red Tape Act, 2017 passed first reading.   The Bill has various Schedules with the names of each Ministry responsible for the statutes being amended or provisions repealed by each Schedule.

Schedule 9, the schedule that deals with statues that fall under the control of the Ministry of Government and Consumer Services, contains amendments to both the Personal Property Security Act ("PPSA") and the Repair and Storage Liens Act ("RSLA") (using the same language for both statutes)  to provide that despite an error in the debtor's name, a registration with the correct VIN in the correct place in the registration will give the secured party a perfected security interest or non-possessory lien in that motor vehicle.

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