Definitions, Application and Adoption of the Personal Property Security Regulation
In the Act and this regulation, claim means any of the following as defined in subsection (2):
a Crown charge;
a lien for unpaid wages;
a proceeds of crime notice;
a heritage conservation notice;
a manufactured home notice;
a lien for maintenance arrears;
a securities order or proceeding notice.
In this regulation:
Act means the Miscellaneous Registrations Act, 1992;
collateral means personal property that is subject to a claim;
Crown charge means a lien or charge against, or other interest in, personal property if the lien, charge or interest is
created by an enactment, and
held by the Crown in right of Canada or a province;
debtor means a person who owns personal property that is subject to a claim;
discharge means a discharge obtained under Part 3 based on the entries required and transmitted to the registry under section 14 to effect a discharge of a registration;
financing change statement means the financing change statement established by the registrar;
financing statement has the meaning in the Act, and in this regulation refers to entries transmitted to the registry to effect a registration;
heritage conservation notice means a notice that personal property has been designated as a heritage object under the Heritage Conservation Act;
lien for maintenance arrears means a lien for maintenance arrears created under section 26.1 of the Family Maintenance Enforcement Act;
lien for unpaid wages means a lien, charge and secured debt for unpaid wages created under section 87 (1) or (1.1) of the Employment Standards Act;
manufactured home notice means a notice that the Registrar of Manufactured Homes under the Manufactured Home Act
will not register a manufactured home or an instrument that transfers an interest in a manufactured home, and
will not issue a transport permit for a manufactured home;
proceeds of crime notice means a notice that
a restraint order has been issued under section 462.33 (3) of the Criminal Code, or
an order of forfeiture has been made under section 462.37 (1) or (2.01) or 462.38 (2) of the Criminal Code;
registering party means the person submitting a financing statement or financing change statement for registration;
secured party means a holder as defined in the Act;
securities order or proceeding notice means a notice of
a lien and charge created under section 163.1 of the Securities Act, or
an order or proceedings under section 164.18 (2) of the Securities Act that may affect personal property;
security interest has the same meaning as in the Personal Property Security Act;
serial numbered goods means
for the purpose of registering a manufactured home notice, the manufactured home that is the subject of the notice, and
for the purpose of registering a proceeds of crime notice, a securities order or proceeding notice or a lien for maintenance arrears, a motor vehicle, manufactured home, boat, outboard motor, trailer or aircraft.
Subject to subsection (4) of this section, the definitions of the following phrases in section 1 (1) and (2) of the Personal Property Security Regulation are adopted:
aircraft;
artificial body;
Repealed. [B.C. Reg. 326/2021, App. 2, s. 1 (f).]
base registration;
Repealed. [B.C. Reg. 326/2021, App. 2, s. 1 (f).]
boat;
business debtor;
Repealed. [B.C. Reg. 326/2021, App. 2, s. 1 (f).]
general collateral;
manufactured home;
motor vehicle;
Repealed. [B.C. Reg. 326/2021, App. 2, s. 1 (f).]
secured party code;
trailer;
verification statement.
If a provision of the Personal Property Security Regulation is adopted by this regulation the definitions in this section apply to the adopted provision.
Unless this regulation provides otherwise, the provisions of the Personal Property Security Regulation apply to claims under this regulation to the extent the provisions are consistent with this regulation.
Parts 3, 4 and 6 of the Personal Property Security Regulation are not adopted by this regulation.
Financing Statement
The registering party must make the appropriate entries to indicate whether the registration is a Crown charge or another type of claim.
Repealed. [B.C. Reg. 326/2021, App. 2, s. 3.]
If a Crown charge is being registered, the statute under which the Crown charge is claimed must be indicated
by selecting the appropriate Crown charge from the following statute list: or
Carbon Tax Act Forest Act Insurance Premium Tax Act Income Tax Act (Canada) Logging Tax Act Mineral Land Tax Act Mineral Tax Act Motor Fuel Tax Act Petroleum and Natural Gas Act Property Transfer Tax Act Provincial Sales Tax Act School Act Speculation and Vacancy Tax Act Taxation (Rural Area) Act Tobacco Tax Act
if the name of the statute is not provided in the list in paragraph (a), by entering the name of the statute in the space marked "Other".
If a claim that is not a Crown charge is being registered, the type of claim must be indicated by selecting the appropriate claim from the selections provided on the screen.
A registration is effective until it is discharged.
The full name and address of the registering party must be entered in the space provided on the screen.
To register a Crown charge, the collateral must be described
in accordance with section 11 (1) and (2) of the Personal Property Security Regulation, or
by using the same language that the enactment creating the Crown charge uses to describe the personal property that is subject to the Crown charge.
To register a lien for unpaid wages, the collateral must be described by entering "all the personal property of the debtor, including money due or accruing due".
To register a proceeds of crime notice, the collateral must be described as follows:
that portion of the collateral that is serial numbered goods must be described in accordance with section 10 of the Personal Property Security Regulation;
that portion of the collateral that is not serial numbered goods must be described in accordance with section 11 (1) and (2) of the Personal Property Security Regulation.
To register a heritage conservation notice, the collateral must be described in accordance with section 11 (1) and (2) of the Personal Property Security Regulation.
To register a manufactured home notice, the collateral must be described in accordance with section 10 of the Personal Property Security Regulation.
To register a lien for maintenance arrears, the collateral must be described as follows:
that portion of the collateral that is serial numbered goods must be described in accordance with section 10 of the Personal Property Security Regulation;
that portion of the collateral that is not serial numbered goods must be described in accordance with section 11 (1) and (2) of the Personal Property Security Regulation.
To register a securities order or proceeding notice, the collateral must be described as follows:
that portion of the collateral that is serial numbered goods must be described in accordance with section 10 or 11 (1) and (2) of the Personal Property Security Regulation;
that portion of the collateral that is not serial numbered goods must be described in accordance with section 11 (1) and (2) of the Personal Property Security Regulation.
Amendments to and Discharges of Registrations
A financing change statement must be used to register an amendment to or a discharge of a registration.
Repealed. [B.C. Reg. 326/2021, App. 2, s. 8 (b).]
The registering party must enter the following information on the financing change statement:
the registration number of the base registration that relates to the registration to be amended;
the name of a debtor as entered on the registration or a confirmation that the registration is the correct registration to be amended.
Repealed. [B.C. Reg. 326/2021, App. 2, s. 8 (b).]
In addition to the entries required under this section, a person seeking an amendment to a registration may enter one or more of the following:
a reference number for the person's own purposes;
the email address of the registering party;
the email address of the secured party.
If the amendment is to reflect the transfer of all the debtor's interest, the registering party must,
in the appropriate spaces for an individual or business debtor, enter an indication of which debtor appearing in the registration is to be deleted from the registration, and
in the appropriate spaces for an individual or business debtor, enter a description, in accordance with Division 2 of Part 2 of the Personal Property Security Regulation, of the debtor to whom the interest in the collateral has been or is to be transferred.
In addition to the entries required under subsection (3), the registering party may enter, in relation to a debtor who is an individual, the debtor's birthdate.
If the amendment is to reflect the release of a debtor, the registering party must, in the appropriate spaces for an individual or business debtor, enter an indication of which debtor appearing in the registration is to be deleted from the registration.
If the amendment is to reflect a partial discharge of collateral, the registering party must, in the appropriate spaces marked "Vehicle Collateral" or "General Collateral",
if collateral that is being discharged has been described by serial number in a vehicle collateral line in the existing registration, enter an indication of which item appearing in the registration is to be deleted from the registration, and
if general collateral is being discharged, enter a description of the collateral being discharged.
If the amendment is to reflect the addition of collateral, the registering party must, in the appropriate spaces marked "Vehicle Collateral" or "General Collateral", enter a description of the added collateral in accordance with section 11.
If the amendment is to reflect the substitution of collateral, the registering party must
enter the information required by subsection (5) to describe the collateral being discharged, and
enter the information required by subsection (6) to describe the collateral being added.
If the amendment is the registration of a court order, the registering party must
enter the name of the court that issued the order, the court registry out of which the order was issued, the court file number, the date of the order and the effect of the order, and
in the appropriate spaces, delete or add information if required to effect the court order.
Repealed. [B.C. Reg. 326/2021, App. 2, s. 8 (o).]
If the amendment is to reflect the transfer of part of the collateral to a new debtor, the registering party
must enter
the words "partial transfer to new debtor",
a description of the collateral being transferred, and
a description, in accordance with Division 2 of Part 2 of the Personal Property Security Regulation, of the debtor to whom the collateral is being transferred, and
may enter, in relation to a debtor who is an individual, the debtor's birthdate.
If the amendment is to reflect a change to a debtor's name or address, the registering party must
enter an indication of which debtor's name or address appearing in the registration is to be deleted from the registration, and
in the appropriate spaces for an individual or business debtor, in accordance with Division 2 of Part 2 of the Personal Property Security Regulation,
if the debtor's name is changed, enter the debtor's address and new name,
if the debtor's address is changed, enter the debtor's name and new address, or
if both the debtor's name and address are changed, enter the debtor's new name and new address.
If the amendment is to add a debtor's name and address, the registering party
must enter the new debtor's name, in accordance with Division 2 of Part 2 of the Personal Property Security Regulation, and the new debtor's address, and
may enter, in relation to a debtor who is an individual, the debtor's birthdate.
If the amendment is not otherwise referred to in this Part, the registering party must enter
a description of the type of change,
the exact information appearing in the registration that is to be deleted from the registration,
if a debtor or vehicle collateral is being deleted, an indication of which debtor or vehicle collateral item appearing in the registration is to be deleted from the registration, and
the exact information that is to be added to the registration.
The registering party must enter the registering party's full name and full mailing address.
Repealed. [B.C. Reg. 326/2021, App. 2, s. 8 (b).]
Repealed. [B.C. Reg. 326/2021, App. 2, s. 9.]
Sections 35 (a) and (b) and 36 of the Personal Property Security Regulation are adopted.
In addition to the entries required under section 35 (a) and (b) of the Personal Property Security Regulation, the entry of the full name and full mailing address of the registering party is required.
General
Part 7 of the Personal Property Security Regulation is adopted, except sections 52 to 54 and 56 to 59.
Repealed. [B.C. Reg. 326/2021, App. 2, s. 11.]
A demand given under section 6 (3) of the Act must be in the form in the Schedule to this regulation.
Forms and Schedules
Schedule 2 of the Personal Property Security Regulation is adopted.
Form 3 of the Personal Property Security Regulation applies for the purposes of this regulation.