Acts and Regulations

95-57 - General

Section 26
Disposition versions

Full text
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 74 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 74 of the Act.
26(2)Where a financing statement is registered under section 74 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 Corporation 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 Corporation Securities Registration Act, enter “not applicable”, 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.
26(3)Where a financing statement is registered under section 74 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 74(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.
99-20
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 74 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 74 of the Act.
26(2)Where a financing statement is registered under section 74 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 Corporation 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 Corporation Securities Registration Act, enter “not applicable”, 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.
26(3)Where a financing statement is registered under section 74 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 74(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.
99-20