“accession” means goods that are installed in or affixed to other goods;(adjonction)
“account” means a monetary obligation not evidenced by chattel paper, a security or an instrument, whether or not the obligation has been earned by performance, but does not include investment property;(compte)
“advance” means the payment of money, the provision of credit or the giving of value and includes any liability of the debtor to pay interest, credit costs and other charges payable by the debtor in connection with an advance or the enforcement of a security interest securing the advance;(avance)
“broker” means a broker as defined in the Securities Transfer Act;(courtier)
“building” means a structure, erection, mine or work built, constructed or opened on or in land;(bâtiment)
“building materials” means materials that are incorporated into a building and includes goods attached to a building so that their removal
(matériaux de construction)
(a)
would necessarily involve the dislocation or destruction of some other part of the building and cause substantial damage to the building, apart from the loss of value of the building resulting from the removal, or
(b)
would result in weakening the structure of the building or exposing the building to weather damage or deterioration,
(c)
heating, air conditioning or conveyancing devices, or
(d)
machinery installed in a building or on land for use in carrying on an activity in the building or on the land;
“certificated security” means a certificated security as defined in the Securities Transfer Act;(valeur mobilière avec certificat)
“chattel paper” means one or more writings that evidence both a monetary obligation and a security interest in, or a lease of, specific goods or specific goods and accessions; (titre de créance garanti)
“clearing house” means an organization through which trades in options or standardized futures are cleared and settled;(chambre de compensation)
“clearing house option” means an option, other than an option on futures, issued by a clearing house to its participants;(option de chambre de compensation)
“collateral” means personal property that is subject to a security interest;(bien grevé)
“commercial consignment” means a consignment under which goods are delivered for sale, lease or other disposition to a consignee who, in the ordinary course of the consignee’s business, deals in goods of that description, by a consignor who,
(consignation commerciale)
(a)
in the ordinary course of the consignor’s business, deals in goods of that description, and
(b)
reserves an interest in the goods after they have been delivered,
but does not include an agreement under which goods are delivered
(c)
to an auctioneer for sale, or
(d)
to a consignee for sale, lease or other disposition if the consignee is generally known to the creditors of the consignee to be selling or leasing goods of others;
“consumer goods” means goods that are used or acquired for use primarily for personal, family or household purposes;(biens de consommation)
“Court” means The Court of Queen’s Bench of New Brunswick;(Cour)
“creditor” includes an executor, an administrator or a committee of a creditor;(créancier)
“crops” means crops, whether or not matured, and whether naturally grown or planted, attached to land by roots or forming part of trees or plants attached to land, and includes trees only if they
(récoltes)
(a)
are being grown as nursery stock,
(b)
are being grown for uses other than for the production of lumber and wood products, or
(c)
are intended to be replanted in another location for the purpose of reforestation;
“debtor” means
(débiteur)
(a)
a person who owes payment or performance of an obligation secured, whether or not that person owns or has rights in the collateral,
(b)
a person who receives goods from another person under a commercial consignment,
(c)
a lessee under a lease for a term of more than one year,
(d)
a transferor of an account or chattel paper,
(e)
a seller under a sale of goods without a change of possession,
(f)
in sections 17, 24, 26 and 58, subsections 59(15) and 61(8) and section 66, the transferee of a debtor’s interest in the collateral, and
(g)
if the person referred to in paragraph (
a) and the owner of the collateral are not the same person,
(i)
where the word “debtor” is used in a provision dealing with the collateral, an owner of the collateral,
(ii)
where the word “debtor” is used in a provision dealing with the obligation, the obligor, and
(iii)
where the context permits, both the owner and the obligor;
“default” means
(défaut)
(a)
the failure to pay or otherwise perform the obligation secured when due, or
(b)
the occurrence of any event or set of circumstances whereupon, under the terms of the security agreement, the security interest becomes enforceable;
“document of title” means a writing issued by or addressed to a bailee
(titre)
(a)
that covers goods in the bailee’s possession that are identified or that are fungible portions of an identified mass, and
(b)
in which it is stated that the goods covered by it will be delivered to a named person, or to the transferee of that person, or to bearer or to the order of a named person;
“entitlement holder” means an entitlement holder as defined in the Securities Transfer Act;(titulaire du droit)
“entitlement order” means an entitlement order as defined in the Securities Transfer Act;(ordre relatif à un droit)
“equipment” means goods that are held by a debtor other than as inventory or consumer goods;(matériel)
“financial asset” means a financial asset as defined in the Securities Transfer Act;(actif financier)
“financing change statement” means the data authorized by the regulations to be entered in the Registry to renew, discharge or otherwise amend a financing statement;(état de modification de financement)
“financing statement” means the data authorized by the regulations to be entered in the Registry to effect a registration for the purpose of perfecting a security interest in collateral under this Act and, where the context permits, includes
(état de financement)
(a)
a financing change statement,
(b)
a security agreement registered under the
Assignment of Book Debts Act, the
Bills of Sale Act, the
Conditional Sales Act or the
Corporation Securities Registration Act before the commencement of this Act, together with any writing that was registered with the agreement or registered to rectify, amend or renew the agreement, and
(c)
a notice of intention filed under the
Forest Products Loans Act before the commencement of this Act;
“fixture” does not include building materials;(objet fixé à demeure)
“future advance” means an advance, whether or not made pursuant to an obligation and includes advances and reasonable costs incurred and expenditures made for the protection, maintenance, preservation or repair of the collateral;(avance future)
“futures account” means an account maintained by a futures intermediary in which a futures contract is carried for a futures customer;(compte de contrats à terme)
“futures contract” means a standardized future or an option on futures, other than a clearing house option, that is
(contrat à terme)
(a)
traded on or subject to the rules of a futures exchange recognized or otherwise regulated by the Financial and Consumer Services Commission or by a securities regulatory authority of another province or territory of Canada, or
(b)
traded on a foreign futures exchange and carried on the books of a futures intermediary for a futures customer;
“futures customer” means a person for whom a futures intermediary carries a futures contract on its books;(client de contrats à terme)
“futures exchange” means an association or organization operated to provide the facilities necessary for the trading of standardized futures or options on futures;(bourse de contrats à terme)
“goods” means tangible personal property, fixtures, crops and the unborn young of animals but does not include a document of title, chattel paper, investment property, an instrument, money or trees, other than crops, until they are severed or minerals until they are extracted;(objets)
“instrument” means
(effet)
(a)
a bill of exchange, note or cheque within the meaning of the
Bills of Exchange Act (Canada),
(b)
any other writing that evidences a right to payment of money and is of a type that in the ordinary course of business is transferred by delivery with any necessary endorsement or assignment, and
(c)
a letter of credit or an advice of credit if the letter or advice states that it must be surrendered on claiming payment under it,
(d)
a document of title, chattel paper or investment property, or
(e)
a writing that provides for or creates a mortgage or charge in respect of an interest in land that is specifically identified in the writing;
“intangible” means personal property that is not goods, a document of title, chattel paper, investment property, an instrument or money;(bien intangible)
“inventory” means goods that are
(stock)
(a)
held by a person for sale or lease, or that have been leased by that person as lessor,
(b)
to be furnished or that have been furnished under a contract of service,
(c)
raw materials or work in progress, or
(d)
materials used or consumed in a business or profession;
“investment property” means a security, whether certificated or uncertificated, security entitlement, securities account, futures contract or futures account;(bien de placement)
“lease for a term of more than one year” includes
(bail d’une durée supérieure à un an)
(a)
a lease of goods for an indefinite term including a lease for an indefinite term that is determinable by one or both parties within one year after its execution,
(b)
a lease of goods initially for a term of one year or less if the lessee, with the consent of the lessor, retains uninterrupted or substantially uninterrupted possession of the leased goods for more than one year after the lessee, with the consent of the lessor, first acquired possession of the goods, but the lease does not become a lease for a term of more than one year until the lessee’s possession extends beyond one year, and
(c)
a lease of goods for a term of one year or less where the lease provides that it is renewable for one or more terms automatically or at the option of one of the parties or by agreement of the parties if the total terms, including the original term, may exceed one year,
(d)
a lease of goods by a lessor who is not regularly engaged in the business of leasing goods,
(e)
a lease of household furnishings or appliances as part of a lease of land where the goods are incidental to the use and enjoyment of the land, or
(f)
a lease of goods of a prescribed kind, regardless of the length of the term of the lease;
“minerals” includes oil, gas and hydrocarbons;(minéraux)
“money” means a medium of exchange authorized by the Parliament of Canada as part of the currency of Canada or authorized or adopted by a foreign government as part of its currency;(argent)
“obligation secured” means, for the purpose of determining the amount payable under a lease that secures payment or performance of an obligation,
(obligation garantie)
(a)
the amount originally contracted to be paid as rent under the lease,
(b)
any other amount payable under the terms of the lease, and
(c)
the amount, if any, required to be paid by the lessee to obtain ownership of the collateral,
less any amount paid before the determination;
“option” means an agreement that provides the holder with the right, but not the obligation, to do one or more of the following on terms or at a price established by or determinable by reference to the agreement at or by a time established by the agreement:
(option)
(a)
receive an amount of cash determinable by reference to a specified quantity of the underlying interest of the option;
(b)
purchase a specified quantity of the underlying interest of the option;
(c)
sell a specified quantity of the underlying interest of the option;
“option on futures” means an option the underlying interest of which is a standardized future;(option sur contrats à terme)
“pawnbroker” means a person who engages in the business of granting credit to individuals for personal, family or household purposes and who
(prêteur sur gage)
(a)
takes and perfects security interests in consumer goods by taking possession of them, or
(b)
purchases consumer goods under agreements or undertakings, express or implied, that the goods may be repurchased by the sellers;
“personal property” means goods, a document of title, chattel paper, investment property, an instrument, money or an intangible;(bien personnel)
“prescribed” means prescribed by or under the regulations;(prescrit)
“prior security interest” means an interest created by or provided for under a valid security agreement or other transaction entered into before the commencement of this Act that is a security interest within the meaning of this Act and to which this Act would have applied if it had been in force when the security agreement or other transaction was entered into;(sûreté antérieure)
“proceeds” means
(produit)
(a)
identifiable or traceable personal property that is derived directly or indirectly from any dealing with collateral or proceeds of collateral and in which the debtor acquires an interest,
(b)
an insurance or other payment that represents indemnity or compensation for loss of or damage to collateral or proceeds of collateral, or a right to such a payment,
(c)
a payment made in total or partial discharge or redemption of chattel paper, investment property, an instrument or an intangible, and
(d)
rights arising out of, or property collected on, or distributed on account of, collateral that is investment property;
“purchase” means taking by sale, lease, discount, assignment, negotiation, mortgage, pledge, lien, issue, reissue, gift or any other consensual transaction creating an interest in property;(achat)
“purchase money security interest” means
(sûreté en garantie du prix d’achat)
(a)
a security interest taken in collateral, other than investment property, to the extent that it secures all or part of the purchase price of the collateral,
(b)
a security interest taken in collateral, other than investment property, by a person who gives value for the purpose of enabling the debtor to acquire rights in the collateral, to the extent that the value is applied to acquire the rights,
(c)
the interest of a lessor of goods under a lease for a term of more than one year, and
(d)
the interest of a consignor who delivers goods to a consignee under a commercial consignment,
but does not include a transaction of sale by and lease back to the seller, and for the purposes of this definition, “purchase price” and “value” include interest, credit costs and other charges payable for the purchase or loan credit;
“receiver” includes a receiver-manager;(séquestre)
“Registrar” means the Registrar of the Personal Property Registry designated under subsection 42(2);(registraire)
“Registry” means the Personal Property Registry established under subsection 42(1);(Réseau d’enregistrement)
“sale of goods without a change of possession” means a sale of goods that is not accompanied by an immediate delivery and an actual, apparent and continued change of possession of the goods sold, but does not include a sale of goods in the ordinary course of business of the seller, and for the purposes of this definition, “sale” includes an assignment, transfer, conveyance, declaration of trust or any other agreement or transaction, not intended to secure payment or performance of an obligation, by which an interest in goods is conferred;(vente d’objets sans dépossession)
“secured party” means
(partie garantie)
(a)
a person who has a security interest,
(b)
a person who holds a security interest for the benefit of another person, and
(c)
a trustee, if a security interest is embodied in a trust indenture;
“securities account” means a securities account as defined in the Securities Transfer Act;(compte de titres)
“security” means a security as defined in the Securities Transfer Act;(valeur mobilière)
“security agreement” means an agreement that creates or provides for a security interest, and where the context permits, includes
(contrat de sûreté)
(a)
an agreement that creates or provides for a prior security interest, and
(b)
a writing that evidences a security agreement;
“security certificate” means a security certificate as defined in the Securities Transfer Act;(certificat de valeur mobilière)
“security entitlement” means a security entitlement as defined in the Securities Transfer Act;(droit intermédié)
“security interest” means
(sûreté)
(a)
an interest in personal property that secures payment or performance of an obligation, but does not include the interest of a seller who has shipped goods to a buyer under a negotiable bill of lading or its equivalent to the order of the seller or to the order of an agent of the seller, unless the parties have otherwise evidenced an intention to create or provide for a security interest in the goods, and
(i)
a consignor who delivers goods to a consignee under a commercial consignment,
(ii)
a lessor under a lease for a term of more than one year,
(iii)
a transferee under a transfer of an account or a transfer of chattel paper, and
(iv)
a buyer under a sale of goods without a change of possession,
that does not secure payment or performance of an obligation;
“security with a clearing agency” Repealed: 2008, c.S-5.8, s.109
“specific goods” means goods identified and agreed on at the time a security agreement in respect of those goods is made;(objets déterminés)
“standardized future” means an agreement traded on a futures exchange pursuant to standardized conditions contained in the by-laws, rules or regulations of the futures exchange, and cleared and settled by a clearing house, to do one or more of the following at a price established by or determinable by reference to the agreement and at or by a time established by or determinable by reference to the agreement:
(contrat à terme normalisé)
(a)
make or take delivery of the underlying interest of the agreement;
(b)
settle the obligation in cash instead of delivery of the underlying interest;
“trust indenture” means a deed, indenture or document, however designated, by the terms of which a person issues or guarantees or provides for the issue or guarantee of debt obligations secured by a security interest and in which another person is appointed as trustee for the holders of the debt obligations issued, guaranteed or provided for under it;(acte de fiducie)
“uncertificated security” means an uncertificated security as defined in the Securities Transfer Act;(valeur mobilière sans certificat)
“value” means any consideration sufficient to support a simple contract and includes an antecedent debt or liability, and “new value” means value other than an antecedent debt or liability.(contrepartie)