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Amendments to the Ontario Personal Property Security Act for Electronic Chattel Paper to be Proclaimed into Force on May 15, 2020

05/13/2020

On May 15, 2020, amendments to the Personal Property Security Act (Ontario) to allow for perfection of security interests by control of electronic chattel paper will be proclaimed into force. The amendments, among other things, address perfection by control, conflict of laws issues and priority rules for purchasers in relation to electronic chattel paper.

For more context on these amendments, please refer to our previous e-lerts which can be found here and here as well as the webinar held on this topic on April 30, 2020 with respect to eSignatures, eVaulting and eChattel Paper, which can be viewed here.

This publication is a general summary of the law. It does not replace legal advice tailored to your specific circumstances.

For further information, please contact Lauren Grossman, Jonathan Fleisher or any member of our Banking & Specialty Finance Group.

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