This consolidation is unofficial and is for reference only. For the official version of the regulations, consult the original documents on file with the Registry of Regulations, or refer to the Royal Gazette Part II. Regulations are amended frequently. Please check the list of Regulations by Act to see if there are any recent amendments to these regulations filed with the Registry that are not yet included in this consolidation. Although every effort has been made to ensure the accuracy of this electronic version, the Registry of Regulations assumes no responsibility for any discrepancies that may have resulted from reformatting. This electronic version is for your personal use and may not be copied for the purposes of resale in this or any other form.
Personal Property Security Act General Regulations
made under Section 72 of the
Personal Property Security Act
S.N.S. 1995-96, c. 13
O.I.C. 97-621 (October 1, 1997, effective November 3, 1997), N.S. Reg. 129/97
as amended up to O.I.C. 2008-176 (March 31, 2008, effective April 1, 2008), N.S. Reg. 203/2008
1 These regulations may be cited as the Personal Property Security Act General Regulations.
Part I - Interpretation
Definitions
2 (1) In these regulations
(a) “Act” means the Personal Property Security Act;
(b) “aircraft” means a machine capable of deriving support in the atmosphere from the reactions of the air, other than a machine designed to derive support in the atmosphere from reactions against the earth’s surface of air expelled from the machine;
(c) “applicant spouse” means a spouse in whose favour an order in respect of matrimonial assets or business assets is made under Section 16 of the Matrimonial Property Act;
(d) “boat” means a vessel that is designed for transporting persons or things on water and that is propelled primarily by any power other than muscle power;
(e) “claimant” means
(i) a creditor who has applied for a warrant under the Collection Act, or
(ii) an assignee for the general benefit of creditors under the Assignments and Preferences Act,
as the case may be;
(f) “debtor” means
(i) where the registration is in respect of a security interest or a notice of the appointment of a receiver, a debtor as defined in Section 2 of the Act,
(ia) where the registration is in respect of a notice of maintenance obligation, a payor under the Maintenance Enforcement Act, and
Subclause 2(1)(f)(ia) added: O.I.C. 2006-271, N.S. Reg. 87/2006.
(ii) where the registration is in respect of a notice of claim as authorized by Section 2C of the Creditors’ Relief Act,
(A) a person against whom a warrant has been issued under the Collection Act, or
(B) an assignor of an assignment for the general benefit of creditors under the Assignments and Preferences Act,
as the case may be;
(g) “enterprise” includes a partnership, body corporate, association, organization, estate of a deceased individual, estate of a bankrupt, trade union, trust, syndicate or joint venture or the Director of Maintenance Enforcement, but does not include an individual except the Director of Maintenance Enforcement;
Clause 2(1)(g) amended: O.I.C. 2006-271, N.S. Reg. 87/2006.
(h) “judgment creditor” means a judgment creditor as defined in clause 2(c) of the Creditors’ Relief Act;
(i) “judgment debtor” means a judgment debtor as defined in clause 2(d) of the Creditors’ Relief Act;
(j) “Minister” means the Minister of Service Nova Scotia and Municipal Relations;
(k) “mobile home” means a structure, whether ordinarily equipped with wheels or not, that is not self-propelled and is designed
(i) to be moved from one place to another by being towed or carried, and
(ii) to be used as a dwelling house or premises, a business office or premises, or accommodation for any other purpose;
(l) “motor vehicle” means a mobile device that is propelled primarily by any power other than muscle power
(i) in, on or by which a person or thing may be transported or drawn, and that is designed for use on a road or natural terrain, or
(ii) that is being used in the construction or maintenance of roads,
and includes a pedal bicycle with a motor attached, a combine or a tractor, but does not include a device that runs on rails or machinery designed only for use in farming, other than a combine or a tractor;
(m) “printed” includes typed, stamped or machine printed;
(n) “prior registration law” means prior registration law as defined in subsection 74(1) of the Act;
(o) “registrant” means the person who enters data in the Registry in relation to a registration;
(p) “registration family” means the registration originally entered in the Registry and all subsequent registrations that renew, amend, re-register or discharge that registration;
(q) “registry of deeds” means a registry of deeds as defined in clause 2(am) of the Act;
(r) “respondent spouse” means a spouse against whom an order in respect of matrimonial assets or business assets is made under Section 16 of the Matrimonial Property Act;
(s) “screen” means an electronically reproduced image that is used for the purpose of verifying data entry in the Registry;
(t) “serial numbered goods” means a motor vehicle, trailer, mobile home, aircraft, boat or an outboard motor for a boat;
(u) “tractor” means a self-propelled vehicle that is designed primarily for drawing other vehicles or machines;
(v) “trailer” means a device in, on or by which a person or thing may be transported or drawn that is not self-propelled and that is designed to be drawn on a road by a motor vehicle but does not include a mobile home.
Section 2 renumbered 2(1): O.I.C. 2006-271, N.S. Reg. 87/2006.
(2) In the Act and these regulations, for the purpose of the registration of interests or notices authorized by any Act other than the Personal Property Security Act to be registered in the Registry,
(a) “financing statement” is redefined to include a notice of maintenance obligation being registered under the Maintenance Enforcement Act;
(b) “secured party” is redefined to include the Director of Maintenance Enforcement, if the security interest is a notice of maintenance obligation;
(c) “Director of Maintenance Enforcement” means the Director of Maintenance Enforcement appointed under the Maintenance Enforcement Act;
(d) “notice of maintenance obligation” means a notice of maintenance obligation under the Maintenance Enforcement Act.
Subsection 2(2) added: O.I.C. 2006-271, N.S. Reg. 87/2006.
Part II - General
Access to the Registry
3 (1) A person who wishes to have access to the Registry to effect a registration or make a search may
(a) apply to the Registrar at any office of the Registry; or
(b) enter into an agreement with the Registrar that provides for access to the Registry in such manner and on such terms and conditions as the Registrar considers advisable.
(2) The location of the offices of the Registry shall be designated by the Minister.
(3) Each office of the Registry shall be kept open on such days and for such hours as are specified for that office by the Registrar.
Identification codes
4 (1) The Registrar may assign a client number, a user ID and a password to a person who wishes to have access to the Registry
(a) where the person makes arrangements satisfactory to the Registrar for the payment of any fees under these regulations or taxes under the Act; and
Clause 4(1)(a) amended: O.I.C. 2006-271, N.S. Reg. 87/2006.
(b) where the person wishing to effect a registration, provides proof satisfactory to the Registrar of the identity of the person.
(2) A person shall not have access to the Registry to effect a registration unless the person has been assigned a client number, a user ID and a password by the Registrar under subsection (1).
Subsection 4(2) amended: O.I.C. 2004-95, N.S. Reg. 24/2004.
(3) The Registrar may assign a secured party number to a person who wishes to effect a registration in the Registry if that person has been assigned a client number, a user ID and a password under subsection (1).
(4) A person to whom a client number, a user ID and a password has been or will be assigned under subsection (1) shall designate an individual as that person’s administrative user for all purposes relating to that person’s account with the Registry.
5 (1) A registrant may enter the secured party number assigned by the Registrar under subsection 4(3), instead of the name and address, of the secured party, receiver, judgment creditor, claimant, or applicant spouse, as the case may be.
(2) In a case within subsection (1), the name and address to which the secured party number relates shall appear on all verification statements under Section 9, notices under Section 10 and search results under Section 11 issued by the Registry in relation to the registration.
(3) A registrant may indicate that the registrant is the same person as, instead of entering the name and address of, the secured party, receiver, judgment creditor, claimant, or applicant spouse, as the case may be.
(4) In a case within subsection (3), the name and address to which the client number assigned to the registrant under subsection 4(1) relates shall appear on all verification statements under Section 9, notices under Section 10 and search results under Section 11 issued by the Registry in relation to the registration.
Responsibility of registrants
6 A registrant who effects a registration in the Registry shall ensure that the information required by these regulations is entered in the appropriate fields on the screen.
7 The Registrar may permit a registration to be effected in the Registry without proof that
(a) the client number given by the registrant is the client number assigned by the Registrar to the registrant under subsection 4(1); or
(b) the registrant has authority to effect the registration.
Calculation of registration life
8 (1) For the purposes of calculating the period of effectiveness of a registration, where the calculation is from the day of registration or from the anniversary of the day of registration, a year runs from the beginning of that day.
(2) For the purposes of subsection (1), if the anniversary of the day of registration falls on February 29, the anniversary date is deemed to be March 1.
Verification statements
9 (1) A registrant who effects a registration at an office of the Registry shall be issued a printed verification statement of the registration on completion of the registration.
(2) Where a registrant effects a registration pursuant to an agreement entered into under clause 3(1)(b), it is the responsibility of the secured party, judgment creditor, claimant, or applicant spouse, as the case may be, or person named as such in the registration, to have a verification statement of the registration printed for the purposes of compliance with subsection 44(11) of the Act.
Notices of discharge, re-registration, amendment or global change
10 Where a registration discharges, re-registers or amends a registration or globally changes multiple registrations, the Registrar shall send a printed or electronic notice verifying the discharge, re-registration, amendment or global change to the secured party, receiver, judgment creditor, claimant, or applicant spouse, as the case may be.
Searches and search results
11 (1) A person who makes a search of the Registry according to the name of the debtor shall
(a) where the debtor is an individual, enter the name of the debtor in the manner provided under Section 20; and
(b) where the debtor is an enterprise, enter the name of the debtor in the manner provided under Section 21.
(2) A person who makes a search of the Registry according to the name of the judgment debtor shall
(a) where the judgment debtor is an individual, enter the name of the judgment debtor in the manner provided under Section 20 and Section 20 applies with the necessary changes in details; and
(b) where the judgment debtor is an enterprise, enter the name of the judgment debtor in the manner provided under Section 21 and Section 21 applies with the necessary changes in details.
(3) A person who makes a search of the Registry according to the name of the respondent spouse shall enter the name of the respondent spouse in the manner provided under Section 20 and Section 20 applies with the necessary changes in details.
(4) A person who makes a search of the Registry according to registration number shall enter the number of any registration that forms part of the registration family to which the search relates.
(5) For the purposes of making a search of the Registry according to the serial number of the goods to which the search relates, the serial number shall be determined in accordance with Section 25.
(6) A person who makes a search of the Registry may elect whether or not to have a search result printed.
(7) A printed search result shall
(a) identify the number of registrations in the Registry, if any, that contain information that exactly matches the search criteria provided by the searcher and indicate which registrations were selected to be included in, or excluded from, the registrations to be printed in detail;
(b) identify the number of registrations in the Registry, if any, that contain information that closely matches the search criteria provided by the searcher and indicate which registrations were selected to be included in, or excluded from, the registrations to be printed in detail;
(c) provide the registration history and the details of all registrations that form part of the registration family of which the registration selected for printing is a member;
(d) where applicable, indicate that the search criteria provided by the searcher did not exactly match any information contained in a registration in the Registry at the date and time of the search; and
(e) where applicable, indicate that the search criteria provided by the searcher did not closely match any information contained in a registration in the Registry at the date and time of the search.
Registry liability limits
12 (1) The maximum total amount recoverable in a single action under Section 53 of the Act is $ 200 000.
(2) The maximum total amount recoverable for all claims in a single action under Section 54 of the Act is $ 2 000 000.
Deemed damages
13 (1) For the purposes of subsection 67(3) of the Act, the debtor, or the person named as debtor, shall be deemed to have suffered damages of not less than $ 300.
(2) For the purposes of subsection 67(4) of the Act, the secured party shall be deemed to have suffered damages of not less than $300.
Application of Act to interests or notices registered under the authority of other Acts
14 Subsection 36(7), Section 43, Section 44 except subsections (5) and (6), Section 45, Section 46 except subsection (6), Sections 47, 48 and 49, Section 51 except subsections (2), (8) and (9), Section 52 except subsection (3) and Sections 53 and 55 of the Act apply with the necessary changes in details to a notice of judgment registered under Part V, a notice of claim registered under Part VI, a notice of an order in respect of matrimonial assets or business assets registered under Part VII, and to their registration.
Part III - Registration of a Financing Statement under the Act
Application
15 This Part applies to the registration in the Registry of a financing statement in relation to a security interest under the Act including a prior security interest that was registered under prior registration law and a financing statement that is a notice of maintenance obligation.
Section 15 amended: O.I.C. 2006-271, N.S. Reg. 87/2006.
Preliminary registration procedure
16 A registrant who wishes to register a financing statement in relation to a security interest under the Act or a financing statement that is a notice of maintenance obligation shall indicate
(a) that the registrant wishes to have access to the Registry to effect a registration;
(b) that the registrant wishes to enter a registration; and
(c) that the registrant wishes to register a PPSA financing statement.
Section 16 amended: O.I.C. 2006-271, N.S. Reg. 87/2006.
Duration of registration
17 The registrant shall specify the period of time during which the registration is to be effective by entering a whole number from 1 to 25 indicating the number of years or by selecting infinity.
Your file number
18 For the registrant’s own purposes, the registrant may enter, under the heading “Your File Number”, any file number the registrant wishes that consists of numbers or letters or both to a maximum of 12 characters.
Debtor information
19 (1) Where the debtor is an individual, the registrant shall enter, under the heading “Debtor (Individual)”, the name, in the manner provided under Section 20, and address of the debtor.
(2) Where the debtor is an enterprise, the registrant shall enter, under the heading “Debtor (Enterprise)”, the name, in the manner provided under Section 21, and address of the debtor.
(3) Where the debtor is an individual, the registrant may enter the birth date of the debtor with the number of the year entered first followed by the number of the month followed by the number of the day.
(4) Where the debtor is an enterprise, the registrant may enter the name and position of a contact person within the enterprise to whom inquiries relating to the registration may be addressed.
(5) Where a registration applies to more than 1 debtor, the registrant shall identify each debtor as a separate debtor in the registration.
Debtor (individual) name information
20 (1) Where the debtor is an individual, the registrant shall enter the last name followed by the first name followed by the middle name, if any, of the debtor.
(2) Where the debtor is an individual whose name includes more than 1 middle name, the registrant shall enter the first of the middle names.
(3) Where the debtor is an individual whose name consists of only 1 word, the registrant shall enter that word in the field for entering the last name of the debtor.
(4) Where the debtor is an individual who carries on business under a name and style other than the individual’s own name, the registrant
(a) shall enter, in accordance with this Section, the individual’s own name as a debtor (individual); and
(b) may enter, in accordance with Section 21, the individual’s business name and style as a debtor (enterprise).
(5) Where the debtor is an individual, the name of the debtor shall be determined, for the purposes of this Section, by the following rules:
(a) where the debtor was born in Canada and the debtor’s birth is registered in Canada with a government agency responsible for the registration of births, the name of the debtor is the name stated on the debtor’s birth certificate or equivalent document issued by the government agency;
(b) where the debtor was born in Canada but the debtor’s birth is not registered in Canada with a government agency responsible for the registration of births, the name of the debtor is
(i) the name stated in a current passport issued to the debtor by the Government of Canada,
(ii) if the debtor does not have a current Canadian passport, the name stated on a current social insurance card issued to the debtor by the Government of Canada, or
(iii) if the debtor does not have a current Canadian passport or social insurance card, the name stated in a current passport issued to the debtor by the government of a jurisdiction other than Canada where the debtor habitually resides;
(c) where the debtor was not born in Canada but is a Canadian citizen, the name of the debtor is the name stated on the debtor’s certificate of Canadian citizenship;
(d) where the debtor was not born in Canada and is not a Canadian citizen, the name of the debtor is
(i) the name stated on a current visa issued to the debtor by the Government of Canada,
(ii) if the debtor does not have a current Canadian visa, the name stated on a current passport issued to the debtor by the government of the jurisdiction where the debtor habitually resides, or
(iii) if the debtor does not have a current Canadian visa or a current passport, the name stated on the birth certificate or equivalent document issued to the debtor by the government agency responsible for the registration of births at the place where the debtor was born;
(e) despite clauses (a) to (d) and subject to clause (f), if the debtor changes his or her name after marriage or in accordance with change of name legislation, the name of the debtor is the name adopted by the debtor after marriage, if that name is recognized under the law of the jurisdiction where the debtor habitually resides, or the name stated on the debtor’s change of name certificate or equivalent document, as the case may be;
(f) where the law of the jurisdiction where the debtor habitually resides allows a person to use both the name adopted after marriage and the name that person had before marriage, and the debtor uses both names, clauses (a) to (d) continue to apply and both the name of the debtor determined in accordance with those clauses and the name adopted after marriage shall be registered as separate debtor (individual) names; and
(g) in a case not falling within clauses (a) to (f), the name of the debtor is the name stated on any 2 of the following documents issued to the debtor by the Government of Canada or of a province or territory of Canada:
(i) a current motor vehicle operator’s licence,
(ii) a current vehicle registration,
(iii) a current medical insurance card.
(6) For the purposes of subsection (5), the name of the debtor shall be determined as of the date of the event or transaction to which the registration relates.
(7) In addition to entering the name of a debtor who is an individual determined in accordance with this Section, the registrant may enter any other name of the debtor of which the registrant has knowledge as a separate debtor (individual) name.
Debtor (enterprise) name information
Body corporate
21 (1) Where the debtor is an enterprise that is a body corporate, the registrant shall enter the name of the body corporate.
(2) The registrant shall enter, under separate “Debtor (Enterprise)” headings in the registration, all forms of the name of a debtor that is a body corporate if the name of the debtor is in more than one of the following forms:
(a) an English form;
(b) a French form;
(c) a combined English-French form.
(3) In entering the name of a debtor that is a body corporate, the registrant may enter, with or without a period, either the abbreviation “Ltd”, “Ltee”, “Ltée”, “Inc”, “Incorp”, “Corp”, “Co” or “Cie”, as the case may be, or “Limited”, “Limitee”, “Limitée”, “Incorporated”, “Incorporee”, “Incorporée”, “Corporation”, “Company” or “Compagnie”, as the case may be.
Estate of deceased individual
(4) Where the debtor is an enterprise that is the estate of a deceased individual, the registrant shall enter the first name followed by the first of the middle names, if any, followed by the last name of the deceased, unless the name of the deceased consists of only 1 word in which case only that word shall be entered, followed by the word “estate”.
Trade union
(5) Where the debtor is an enterprise that is a trade union, the registrant shall enter
(a) the name of the trade union; and
(b) in accordance with subsection (17), the name of each person representing the trade union in the transaction giving rise to the registration.
Named trust
(6) Where the debtor is a trustee acting for an enterprise that is in the form of a trust, and the document creating the trust designates the name of the trust, the registrant shall enter that name, followed by the word “trust” unless the name of the trust already contains the word “trust”.
Unnamed trust
(7) Where the debtor is a trustee acting for an enterprise that is in the form of a trust, and the document creating the trust does not designate the name of the trust, the registrant shall enter the first name followed by the first of the middle names, if any, followed by the last name of at least 1 of the trustees, unless the name of the trustee consists of only 1 word in which case only that word shall be entered, followed by the word “trustee”.
Bankrupt individual
(8) Where the debtor is a trustee acting for an enterprise that is in the form of the estate of a bankrupt individual, the registrant shall enter the first name followed by the first of the middle names, if any, followed by the last name of the bankrupt, unless the name of the bankrupt consists of only 1 word in which case only that word shall be entered, followed by the word “bankrupt”.
Bankrupt enterprise
(9) Where the debtor is a trustee acting for an enterprise that is in the form of the estate of a bankrupt enterprise, the registrant shall enter the name of the bankrupt enterprise followed by the word “bankrupt”.
Registered or limited partnership
(10) Where the debtor is a debtor because of membership in an enterprise that is a partnership, the registrant shall enter
(a) in the case of a partnership that is registered under the Partnerships and Business Names Registration Act, the firm name of the partnership as stated in the certificate of registration issued under that Act; and
(b) in the case of a limited partnership, the firm name of the limited partnership as stated in the certificate filed and recorded under the Limited Partnerships Act.
Other partnership
(11) Where the debtor is a debtor because of membership in an enterprise that is a partnership, other than one referred to in subsection (10), the registrant shall enter
(a) the firm name of the partnership; and
(b) in accordance with subsection (17), the name of at least one of the partners, which, in the case of a limited partnership must include the name of a general partner.
(12) In a case within subsection (11), if the partnership does not have a name, the registrant shall enter, in accordance with subsection (17), the names of all of the partners.
Syndicate or joint venture
(13) Where the debtor is a debtor because of participation in an enterprise that is a syndicate or joint venture, the registrant shall enter
(a) the name, if any, of the syndicate or joint venture as stated in the document creating it; and
(b) in accordance with subsection (17), the name of each participant in it.
Other enterprise
(14) Where the debtor is a debtor because of membership or participation in an association, organization or enterprise other than one already referred to in this Section, the registrant shall enter
(a) the name of the association, organization or enterprise; and
(b) in accordance with subsection (17), the name of each person representing the association, organization or enterprise in the transaction giving rise to the registration.
(15) For the purposes of clause (14)(a), if the name of the association, organization or enterprise is stated in a constitution, charter or other document creating it, the registrant shall enter the name in the form stated therein.
Entering names of representatives or members of an enterprise
(16) For the purposes of this Section, a person representing an enterprise in a transaction giving rise to a registration is a person who has power to bind the enterprise or its officers or members and who has exercised that power in the formation of the contract or contracts involved in the transaction.
(17) Where, under clause (5)(b), (11)(b), subsection (12), clause (13)(b) or (14)(b),
(a) the name of an individual is to be entered, the name shall be entered in the manner provided under Sections 19 and 20; or
(b) the name of a body corporate is to be entered, the name shall be entered in the manner provided under Section 19 and subsections (1) to (3).
Secured party information
22 (1) The registrant shall indicate whether the secured party is an individual or an enterprise.
(2) Where the secured party is an individual, the registrant shall enter the name, in the manner provided under Section 20, and address of the secured party and Section 20 applies with the necessary changes in details.
(3) Except as provided in subsection (3A), where the secured party is an enterprise, the registrant shall enter the name, in the manner provided under Section 21, and address of the secured party and Section 21 applies with the necessary changes in details.
Subsection 22(3) amended: O.I.C. 2006-271, N.S. Reg. 87/2006.
(3A) Where the secured party is the Director of Maintenance Enforcement making a registration under the Maintenance Enforcement Act, the registrant shall indicate that the secured party is an enterprise and enter the title “Director of Maintenance Enforcement” as the name of the secured party.
Subsection 22(3A) added: O.I.C. 2006-271, N.S. Reg. 87/2006.
(4) The registrant may enter the secured party’s phone number and fax number.
(5) Where the secured party is an enterprise, the registrant may enter the name and position of a contact person within the enterprise to whom inquiries relating to the registration may be addressed.
(6) Where a registration applies to more than 1 secured party, the registrant shall identify each secured party as a separate secured party in the registration.
Collateral (and proceeds) description
23 (1) Subject to subsection (2), where the collateral to which a registration relates is
(a) consumer goods that are serial numbered goods, the registrant shall enter a description of the collateral in accordance with Section 25;
(b) consumer goods that are not serial numbered goods, the registrant shall enter a description of the collateral in accordance with Section 24;
(c) equipment that is serial numbered goods, the registrant shall enter a description of the collateral in accordance with Section 24 or 25;
(d) equipment that is not serial numbered goods, the registrant shall enter a description of the collateral in accordance with Section 24; or
(e) items of inventory, whether or not serial numbered goods, the registrant shall enter a description of the collateral in accordance with Section 24.
(2) Where the collateral to which a registration relates is proceeds to be described for the purposes of subsection 29(3) or (4) of the Act, and the collateral is
(a) consumer goods that are serial numbered goods, the registrant shall enter a description of the collateral in accordance with Section 25;
(b) equipment that is serial numbered goods, the registrant shall
(i) enter a description of the collateral in accordance with Section 25, or
(ii) enter a description of the collateral in accordance with Section 24 and indicate that the description relates to proceeds; or
(c) collateral not referred to in clause (a) or (b), the registrant shall enter a description of the collateral in accordance with Section 24 and indicate that the description relates to proceeds.
General description of collateral
24 (1) Where collateral is to be described other than by serial number, the registrant shall enter
(a) a description of the collateral by item or kind or by reference to one or more of the following: “goods”, “document of title”, “chattel paper”, “security”, “instrument”, “money” or “intangible”;
(b) a statement that a security interest is taken in all of the debtor’s present and after-acquired personal property; or
(c) a statement that a security interest is taken in all of the debtor’s present and after-acquired personal property except specified items or kinds of personal property or except one or more of the following: “goods”, “document of title”, “chattel paper”, “security”, “instrument”, “money” or “intangible”.
(2) A description is inadequate for the purposes of clause (1)(a) if it describes the collateral as consumer goods or equipment without further describing the item or kind of collateral, but where the personal property to be excluded from a description of collateral under clause (1)(c) is the consumer goods of the debtor, the excluded property may be described simply as consumer goods.
(3) A description of collateral under subsection (1) that describes the collateral as inventory is adequate only while the collateral is held by the debtor as inventory.
Description of serial numbered goods
25 (1) Where collateral is to be described by serial number under the heading “Serial Numbered Collateral Information”, the registrant
(a) shall indicate the type of serial numbered goods to which the registration relates after the heading “Serial Collateral Type”;
Clause 25(1)(a) amended: O.I.C. 2004-95, N.S. Reg. 24/2004.
(b) shall enter the last 25 characters of the serial number or all the characters if the serial number contains less than 25 characters after the heading “Serial Number”;
Clause 25(1)(b) amended: O.I.C. 2004-95, N.S. Reg. 24/2004.
(c) may verify the serial number entered by entering it a second time; and
(d) may describe the collateral by make, manufacturer, model, model year or any other particulars.
Subsection 25(1) amended: O.I.C. 2004-95, N.S. Reg. 24/2004.
(2) For the purposes of this Section, the serial number for
(a) a motor vehicle other than a combine or tractor is the vehicle identification number marked on, or attached to, the body frame by the manufacturer;
(b) a combine, tractor, mobile home or trailer is the serial number marked on, or attached to, the chassis by the manufacturer;
(c) a boat that can be registered, recorded or licensed under the Canada Shipping Act (Canada) is the registration, recording or licence number assigned to the boat under that Act;
(d) a boat not referred to in clause (c) is the serial number marked on, or attached to, the boat by the manufacturer;
(e) an outboard motor for a boat is the serial number marked on, or attached to, the outboard motor by the manufacturer;
(f) an aircraft that must be registered under the Aeronautics Act (Canada) or regulations made under that Act in order to be operated in Canada is the registration marks assigned to the airframe by the Department of Transport (Canada), omitting any hyphen;
(g) an aircraft that must be registered under the law of a state, other than Canada, that is a party to the Convention on International Civil Aviation 1944 (Chicago) is the registration marks assigned to the airframe by the relevant licensing authority, omitting any hyphen; and
(h) an aircraft not referred to in clause (f) or (g) is the serial number marked on, or attached to, the airframe by the manufacturer.
(3) Where collateral referred to in clause (2)(a), (b), (d), (e) or (h) does not have a serial number or vehicle identification number marked on, or attached to, it by the manufacturer, the serial number is any number of at least 6 characters that is marked on, or attached to, the collateral.
Continuation of prior security interest
26 (1) Where a registrant wishes to continue the registered and perfected or perfected status of a prior security interest referred to in Section 75 of the Act, the registrant shall register a financing statement relating to the prior security interest in accordance with this Part before the registered and perfected or perfected status of the prior security interest ceases to be effective under Section 75 of the Act.
(2) Where a financing statement is registered under Section 75 of the Act to continue the registered and perfected status of a prior security interest covered by an unexpired registration under prior registration law, the registrant shall
(a) indicate under which prior registration law the security interest to which the registration relates is registered;
(b) enter the registration number under prior registration law;
(c) except in the case of a prior security interest covered by a registration under the Corporations Securities Registration Act, indicate the venue in which the registration under prior registration law is registered;
(d) in the case of a prior security interest covered by a registration under the Corporations Securities Registration Act, indicate that the registration was made under that Act; and
(e) enter the date on which the registration became effective under prior registration law, with the number of the year entered first followed by the number of the month followed by the number of the day.
(3) Where a financing statement is registered under Section 75 of the Act to continue the perfected status of a prior security interest that is not covered by an unexpired registration under prior registration law but has the status of a perfected security interest under subsection 75(5) of the Act on the commencement of the Act, the registrant shall enter, under the heading “Additional Information”, a statement indicating when the prior security interest was created.
Additional information
27 The registrant may enter, under the heading “Additional Information”, any information relating to the registration that the registrant wishes.
Part IV - Registration of a Notice of the Appointment of a Receiver
under Section 65 of the Act
Application
28 This Part applies to the registration in the Registry of a notice of the appointment of a receiver as authorized by Section 65 of the Act.
Preliminary registration procedure
29 A registrant who wishes to register a notice of the appointment of a receiver shall indicate
(a) that the registrant wishes to have access to the Registry to effect a registration;
(b) that the registrant wishes to enter a registration; and
(c) that the registrant wishes to register a notice of appointment of receiver.
Duration of registration
30 The registrant shall specify the period of time during which the registration is to be effective by entering a whole number from 1 to 25 indicating the number of years or by selecting infinity.
Your file number
31 For the registrant’s own purposes, the registrant may enter, under the heading “Your File Number”, any file number the registrant wishes that consists of numbers or letters or both to a maximum of 12 characters.
Debtor information
32 (1) Where the debtor is an individual, the registrant shall enter, under the heading “Debtor (Individual)”, the name, in the manner provided under Section 20, and address of the debtor.
(2) Where the debtor is an enterprise, the registrant shall enter, under the heading “Debtor (Enterprise)”, the name, in the manner provided under Section 21, and address of the debtor.
(3) Where the debtor is an individual, the registrant may enter the birth date of the debtor with the number of the year entered first followed by the number of the month followed by the number of the day.
(4) Where the debtor is an enterprise, the registrant may enter the name and position of a contact person within the enterprise to whom inquiries relating to the registration may be addressed.
(5) Where a registration applies to more than 1 debtor, the registrant shall identify each debtor as a separate debtor in the registration.
Receiver information
33 (1) The registrant shall indicate whether the receiver is an individual or an enterprise.
(2) Where the receiver is an individual, the registrant shall enter the name of the receiver in the manner provided under Section 20 and Section 20 applies with the necessary changes in details.
(3) Where the receiver is an enterprise, the registrant shall enter the name of the receiver in the manner provided under Section 21 and Section 21 applies with the necessary changes in details.
(4) The registrant shall enter the address of the