Acts and Regulations

P-7.1 - Personal Property Security Act

Full text
Conflict of laws: goods to be removed from the jurisdiction
6(1)Subject to section 7, if the parties to a security agreement that creates a security interest in goods in one jurisdiction understand when the security interest attaches that the goods will be kept in another jurisdiction, the validity, perfection and effect of perfection or non-perfection of the security interest are determined by the law of the other jurisdiction if the goods are removed to the other jurisdiction, for purposes other than transportation through the other jurisdiction, within thirty days after the security interest attaches.
6(2)If the other jurisdiction referred to in subsection (1) is not the Province and the goods are later brought into the Province, the security interest in the goods shall be deemed to be a security interest to which subsection 5(3) applies if it was perfected under the law of the other jurisdiction to which the goods were removed.