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ARTICLE · 14 AUGUST 2020

Saskatchewan PPSA Amended To Include Electronic Chattel Paper

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On June 22, 2020, The Personal Property Security Amendment Act, 2019 (the "Amendments") came into force in Saskatchewan.

CanadaTechnology
Erin Eccleston
Erin Eccleston
Ryan Hallman
Ryan Hallman
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On June 22, 2020, The Personal Property Security Amendment Act, 2019 (the  "Amendments") came into force in Saskatchewan. The Amendments bring significant changes to The Personal Property Security Act, 1993 ("PPSA") that may affect the interests of secured creditors and debtors.

In a previous insight, we highlighted features of the Amendments. This insight will discuss the Amendments regarding electronic chattel paper in detail.

To facilitate electronic commerce and increase efficiency, the Amendments specifically recognize "electronic chattel paper" as distinct from "tangible chattel paper" and provide a mechanism for demonstrating control of electronic chattel paper to gain super-priority status. Saskatchewan is the second province, after Ontario, to recognize electronic chattel paper in its PPSA. Organizations in these jurisdictions that currently use chattel paper can take advantage of potential efficiencies by using electronic chattel paper.

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