Preface to the SECOND Edition

AuthorRonald C.C. Cuming, Catherine Walsh, Roderick Wood
The dynamism of Can adian persona l property securit y law over the
last seven years convinced u s of the necessity to publish a second edi-
tion of this book. A second edition also gave us a n opportunity to ma ke
modest structural mod if‌ications and to correct some minor problems
with t he f‌irst e dition.
Since the publication of the f‌irst edition, there have not been any
large-scale changes to t he Personal Property Security Act. The few new
features of the Ontar io Act that came into effect in 2007 and 2010, sum-
marized i n Chapter 1 and examined elsewhere in the book, brought
it more in line with the Acts in t he other PPSA jurisdictions, but als o
left it with sui ge ner is features. The conf‌lict of laws prov isions of the
Saskatchewan and Briti sh Columbia Acts were amended and a new def-
inition of licence was added to the latter.
However, signif‌icant changes occurred i n legislation that interfaces
with the PPSA. The Securities Transfer Acts (and the Quebec equivalent)
that were brought into effect in all jurisdictions except Prince Edward
Island during the inter vening period necessitated very exten sive ex-
pansion of those part s of the book dealing wit h security interests in
investment property. The interface between the PPSA and the Secur ities
Transfer Acts is addressed in Chapters 1, 3, 4, 7, and 8.
This edition addresse s several judgments of the Supreme Court of
Canada that clarify per sonal property security law or provide the con-
ceptual basis for its fur ther amplif‌ication. During the last f‌ive years,
the Supreme Court of Canada played a more active role in addressing
key features of the PPSA than it had played in the past thir ty years. In
Saulnier v Royal Bank of Canada, the Court wre stled with an is sue that

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