Alberta Law Reform Institute Report for Discussion on Personal Property Security Act

Last month, the Alberta Law Reform Institute (ALRI) published a Report for Discussion on the Personal Property Security Act.

The report offers a number of suggestions for public discussion with the goal of updating the province's Personal Property Security Act in keeping with recommendations made by the Canadian Conference on Personal Property Security Law (CCPPSL):

"Every Canadian province and territory, except for Quebec, has enacted a Personal Property Security Act [PPSA]. Although there are minor variations across jurisdictions, these statutes are substantially uniform. Alberta’s current Personal Property Security Act came into force on October 1, 1990. The enactment of the PPSA transformed secured transactions law in Alberta by sweeping away many of the restrictions and limitations that impeded the use of secured credit. It replaced the piecemeal approach that formerly governed with a comprehensive and rational system that fostered certainty, transparency and flexibility (...)"

"Although the PPSA produced a significant improvement in the law, experience with the legislation over the course of the last three decades has revealed several instances where improvements or clarifications are desirable. In some cases, the need for reform is driven by technological advances. When the PPSA was first enacted, electronic banking and electronic commerce were in their infancy (...)"

"The CCPPSL is an organization of provincial and territorial government officials and academics. It has played a leading role in the design of the PPSA model that is used in Alberta. The CCPPSL Report of June 2017 made proposals for changes to the PPSA. These recommendations were fully implemented in Saskatchewan, which proclaimed the amendments into force on June 22, 2020. The proposals have been partially implemented in British Columbia and Ontario. We expect that other provinces will be similarly guided by the CCPPSL Report, and we propose that Alberta update its PPSA through the implementation of the CCPPSL recommendations."

The ALRI was established in 1967 by the Government of Alberta, the University of Alberta and the Law Society of Alberta for the purposes of conducting legal research and recommending reforms in the law. Funding for ALRI’s operations is provided by the Government of Alberta, the University of Alberta and the Alberta Law Foundation.