Submissions 2023

The OBA made recommendations to amend the PPSA to update the PPSA and make it more consistent with other Canadian Statutes.

The Personal Property Security Law Committee made two specific recommendations to amend the PPSA: (i) eliminating the “Check-box” collateral classification system for Ontario PPSA registrations and (ii) Priority between Accounts Receivable Financers and Inventory Financers.

The OBA recommended amendments to the PPSA as well as an ongoing process to ensure the PPSA remained current. Previous submissions made in June 1993 concerning the PPSA and the RSLA and in November 1997 concerning the Harmonization of Section 427 of the Bank Act and the PPSA are attached to this submission as Appendices A and C.

OBA Submission to the Pre-Budget Consultations of the Standing Committee on Finance and Economic Affairs.