As we summarized in a recent Financial Services & Insolvency Communiqué, Saskatchewan has introduced Bill 151 (the Bill) which amends The Personal Property Security Act, 1993 (Saskatchewan). Since December 2018, members of our Saskatchewan Financial Services team have been bringing you a number of posts to inform you about the upcoming changes and how they may impact you.
On March 5, 2019, Bill 151 passed Second Reading in the Legislature after limited debate and was referred to the Standing Committee on Intergovernmental Affairs and Justice (the Committee). Based on the brief discussions during the debate, it seems likely that at the Committee stage there will be inquiries as to how at least some of the proposed amendments would operate.
The Committee is scheduled to discuss Bill 151 starting on March 11, 2019. As further developments occur, we will bring them to you. And, of course, stay tuned for some additional posts on the amendments. We still have more to come!