Preface to the SECOND Edition

• Author: Ronald C.C. Cuming, Catherine Walsh, Roderick Wood
• Pages: 27-29

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PREFACE TO THE

SECOND EDITION

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