This Act makes provision with respect to: all transactions where the effect is to secure an obligation with collateral, including pledge, hire-purchase, conditional sale, company charge, chattel mortgage, assignment, and the like; (b) the sale of accounts and chattel paper; (c) consignments; (d) the lease of goods for a period greater than one year; (e) a security interest in a building or other improvement to real property, and to the rental of a building or other improvement to real property for a period greater than one year; and (f) the interest of a lien holder in collateral. The Act concerns, among other things, establishment, registration and execution of a security interest. Goods shall be include quipment, inventory, farm products or consumer goods at the time that a security interest attaches to the goods. “farm products” means goods produced or to be produced by a debtor engaged in farming, other than timber.
Implemented by: Personal Property Securities Regulations 2011. (2011)
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