Registration of a notice of claim
2.4(1)A notice of claim may be registered in the Registry in accordance with the regulations under the
Personal Property Security Act by
(a)
a creditor who has applied for an absconding debtor’s warrant under the
Absconding Debtors Act at any time after the warrant is issued, or
(b)
Repealed: 2005, c.13, s.6
(c)
a sheriff to whom an order to hold personal property disclosed on an examination of a debtor has been directed under subsection 11(1) of the
Arrest and Examinations Act at any time after the order is made.
2.4(2)The commencement of any enforcement proceeding under any of the Acts referred to in subsection (1) does not prejudice the interest of a person to whom personal property that is the subject of the enforcement proceeding is transferred without knowledge until a notice of claim in relation to the enforcement proceeding is registered under subsection (1).
2.4(3)If a notice of claim is registered under subsection (1),
(a)
the registration of the notice of claim does not limit the rights of a person who subsequently becomes a protected purchaser of a security under the
Securities Transfer Act,
(b)
the interest of a person who subsequently becomes a protected purchaser of a security under the
Securities Transfer Act has priority over the interest of the person who registered the notice of claim to the extent provided in that Act, and
(c)
the registration of the notice of claim does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under the
Securities Transfer Act.
1993, c.36, s.2; 2005, c.13, s.6; 2008, c.S-5.8, s.107