Acts and Regulations

W-13 - Workers’ Compensation Act

Section 72.2
Disposition versions

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Security interests void
72.2When an employer in an industry to which this Act applies defaults in the payment of
(a) all or part of a contribution owing pursuant to an assessment, or
(b) all or part of any money due to the Commission under this Act,
any security interest as defined in the Personal Property Security Act created by the employer
(c) on the employer’s personal property in New Brunswick, or
(d) on any other personal property in New Brunswick that is used by the employer in or in connection with, or produced by the employer in the industry with respect to which the employer is assessed or the money becomes due,
is void as against the Commission to the extent of money that has not, at the time of default, been paid under the security interest to the holder of it, regardless of whether the security interest is created before or after the date the contribution or other money becomes due or the default occurs.
2001, c.36, s.13