Part 1 heading BEFORE amended by BC Reg 326/2021, effective January 25, 2022.
Part 1 — Definitions, Application and Adoption of B.C. Reg. 227/2002
Section 1 (2) definition of "B.C. Reg. 227/2002" BEFORE repealed by BC Reg 326/2021, effective January 25, 2022.
"B.C. Reg. 227/2002" means the Personal Property Security Regulation, B.C. Reg. 227/2002;
Section 1 (2) definitions of "discharge" and "lien for unpaid wages" BEFORE amended by BC Reg 326/2021, effective January 25, 2022.
"discharge" means a discharge obtained under Division 3 based on the entries required and transmitted to the registry under section 14 to effect a discharge of a registration;
"lien for unpaid wages" means a lien, charge and secured debt for unpaid wages created under section 87 (1) or (2) of the Employment Standards Act;
Section 1 (2) definition of "proceeds of crime notice", paragraph (b) BEFORE amended by BC Reg 326/2021, effective January 25, 2022.
(b) an order of forfeiture has been made under section 462.37 (1) or 462.38 (2) of the Criminal Code;
Section 1 (2) definition of "registering party" was added by BC Reg 326/2021, effective January 25, 2022.
Section 1 (3) (c), (e), (h), (l) and (m) BEFORE repealed by BC Reg 326/2021, effective January 25, 2022.
Section 1 (3) (part) and (4) BEFORE amended by BC Reg 326/2021, effective January 25, 2022.
(3) Subject to subsection (4) of this section, the definitions of the following phrases in section 1 (1) and (2) of B.C. Reg. 227/2002 are adopted:
(4) If a provision of B.C. Reg. 227/2002 is adopted by this regulation the definitions in this section apply to the adopted provision.
Section 1 (1) (g) was added by BC Reg 228/2024, effective July 15, 2024.
Section 1 (2) definition of "securities order or proceeding notice" was added by BC Reg 228/2024, effective July 15, 2024.
Section 1 (2) definition of "serial numbered goods", paragraph (b) BEFORE amended by BC Reg 228/2024, effective July 15, 2024.
(b) for the purpose of registering a proceeds of crime notice or a lien for maintenance arrears, a motor vehicle, manufactured home, boat, outboard motor, trailer or aircraft.
Section 5 BEFORE amended by BC Reg 326/2021, effective January 25, 2022.
Application of Division 1 and Division 2 of Part 2 of B.C. Reg. 227/2002
5 (1) Sections 2, 4 (e) to (g), 5 (a) and (b) and Division 2 of Part 2 of B.C. Reg. 227/2002 apply to the registration in the registry of a financing statement that relates to a claim under section 2 of the Act.
(2) For the purposes of subsection (1) of this section, section 4 (f) of B.C. Reg. 227/2002 must be read as if the words "full mailing address for each debtor" were replaced with "last known address of the debtor in the records of the secured party".
Section 6 BEFORE repealed by BC Reg 326/2021, effective January 25, 2022.
Information required for Crown charges and other claims
6 (1) For a Crown charge, the registering party must
(a) enter the number of debtors in the space marked "DE", and
(b) enter in the space marked "GC" the number of lines required to describe the debtor's personal property that is general collateral.
(2) For other claims, the registering party must
(a) comply with subsection (1), and
(b) enter in the space marked "VE" the number of items of the debtor's personal property that are described as serial numbered goods.
Section 7 (a) BEFORE amended by BC Reg 129/2008, effective April 1, 2010.
(a) by selecting the appropriate Crown charge from the following statute list:
Carbon Tax Act
Corporation Capital Tax Act
Forest Act
Hotel Room Tax Act
Insurance Premium Tax Act
Income Tax Act (Canada)
Logging Tax Act
Mining Tax Act
Mineral Land Tax Act
Mineral Tax Act
Motor Fuel Tax Act
Petroleum and Natural Gas Act
Property Transfer Tax Act
School Act
Social Service Tax Act
Taxation (Rural Area) Act
Section 7 (a), "Consumption Tax Rebate and Transition Act" was added by BC Reg 112/2010, effective May 1, 2010.
Section 7 (a), the following items BEFORE repealed by BC Reg 326/2021, effective January 25, 2022.
Consumption Tax Rebate and Transition Act
Financial Institutions Minimum Tax Act
Hotel Room Tax Act
Mining Tax Act
Social Service Tax Act
Section 7 (a), the following items were added by BC Reg 326/2021, effective January 25, 2022.
Speculation and Vacancy Tax Act
Tobacco Tax Act
Section 11 BEFORE amended by BC Reg 326/2021, effective January 25, 2022.
Description of collateral
11 (1) To register a Crown charge, the collateral must be described
(a) in accordance with section 11 (1) and (2) of B.C. Reg. 227/2002, or
(b) 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.
(2) To register a lien for unpaid wages, the collateral must be described
(a) if the lien is in favour of the director, by entering "all the personal property of the debtor, including money due or accruing due", or
(b) if the lien is constituted by an order or decision of the Labour Relations Board, by entering "all the personal property of the debtor".
(3) To register a proceeds of crime notice, the collateral must be described as follows:
(a) that portion of the collateral that is serial numbered goods must be described in accordance with section 10 of B.C. Reg. 227/2002;
(b) that portion of the collateral that is not serial numbered goods must be described in accordance with section 11 (1) and (2) of B.C. Reg. 227/2002.
(4) To register a heritage conservation notice, the collateral must be described in accordance with section 11 (1) and (2) of B.C. Reg. 227/2002.
(5) To register a manufactured home notice, the collateral must be described in accordance with section 10 of B.C. Reg. 227/2002.
(6) To register a lien for maintenance arrears, the collateral must be described as follows:
(a) that portion of the collateral that is serial numbered goods must be described in accordance with section 10 of B.C. Reg. 227/2002;
(b) that portion of the collateral that is not serial numbered goods must be described in accordance with section 11 (1) and (2) of B.C. Reg. 227/2002.
Section 12 BEFORE amended by BC Reg 326/2021, effective January 25, 2022.
Registration changes
12 (1) A financing change statement must be used to register the following changes to a registration:
(c) a partial discharge of collateral;
(d) an addition of collateral;
(e) a substitution of collateral;
(f) the maintenance or discharge of a registration pursuant to a court order.
(2) The registering party must enter the following information on the financing change statement:
(a) the registration number of the base registration that relates to the registration to be changed;
(b) the name of the base debtor exactly as it is given on the base registration;
(c) the type of change being made.
(3) If the change is the transfer of all the debtor's interest, the registering party must,
(a) in the appropriate spaces for an individual or business debtor, enter
(i) the block number for the debtor whose interest is being transferred, and
(ii) the name of the debtor whose interest is being transferred as it appears on the existing registration, and
(b) in the appropriate spaces for an individual or business debtor, enter the description, in accordance with Division 2, Part 2, B.C. Reg. 227/2002, of the debtor to whom the interest in the collateral has been or is to be transferred.
(4) If the change is the release of a debtor, the registering party must, in the appropriate spaces for an individual or business debtor, enter
(a) the block number for the debtor being released, and
(b) the debtor's name as it appears on the existing registration.
(5) If the change is a partial discharge of collateral, the registering party must, in the appropriate spaces marked "Vehicle Collateral" or "General Collateral",
(a) if collateral that is being discharged has been described by serial number in a vehicle collateral line in the existing registration, enter
(i) the block number for the collateral being discharged, and
(ii) the serial number, Department of Transport registration number or the manufactured home registration number as it appears in the existing registration, and
(b) if general collateral is being discharged, enter a description of the collateral being discharged.
(6) If the change is the addition of collateral, the registering party must, in the appropriate spaces marked "Vehicle Collateral" or "General Collateral", enter the description of the added collateral in accordance with section 11.
(7) If the change is the substitution of collateral, the registering party must
(a) enter the information required by subsection (5) to describe the collateral being discharged, and
(b) enter the information required by subsection (6) to describe the collateral being added.
(8) If the change is the registration of a court order, the registering party must
(a) in the space marked "Details of: '9 Court Order' or '10 Amendment/Other Change'", enter the name of the court, the court file number, the date of the order and the effect of the court order,
(b) in the appropriate spaces, delete or add information if required to effect the court order, and
(c) submit for filing a copy of the court order along with the financing change statement.
(9) If the change being described in the financing change statement is other than one referred to in, or is a combination of 2 or more of the changes referred to in, subsections (3) to (8), and is being described in the financing change statement, the registering party must
(a) in the case of a transfer of part of the collateral to a new debtor, in the space marked "Details of: '9 Court Order' or '10 Amendment/Other Change'", enter 'partial transfer to new debtor' and a description of the collateral being transferred and, in the appropriate spaces, enter the description, in accordance with Division 2, Part 2, B.C. Reg. 227/2002, of the debtor to whom the collateral is being transferred,
(b) in the case of a change in a debtor's name or address, in the space marked "Details of: '9 Court Order' or '10 Amendment/Other Change'", enter "debtor name/address change", and
(i) if the registering party wishes to delete the previous debtor name or address, enter the information required by subsection (4), and
(ii) in the appropriate spaces for an individual or business debtor, in accordance with Division 2, Part 2, B.C. Reg. 227/2002,
(A) if the debtor's name is changed, enter the debtor's address and new name,
(B) if the debtor's address is changed, enter the debtor's name and new address, or
(C) if both the debtor's name and address are changed, enter the debtor's new name and new address,
(c) to add a debtor's name and address, in the space marked "Details of: '9 Court Order' or '10 Amendment/Other Change'", enter "add debtor name and address", and in the appropriate spaces, enter a description of the new debtor name and address in accordance with Division 2, Part 2, B.C. Reg. 227/2002, and
(d) in the case of a change not otherwise referred to in this Part
(i) in the space marked "Details of '9 Court Order' or '10 Amendment/Other Change'", enter a description of the type of change,
(ii) in the appropriate spaces, enter the exact information to be deleted as it appears on the existing registration being amended and, if a debtor or vehicle collateral is being deleted, enter the block number of the deletion, and
(iii) in the appropriate spaces, enter the exact information to be added in accordance with any applicable instructions in this section.
(10) The registering party must enter in the space marked "Party Registering Change", either the registering party's full name and mailing address, or their registering party code.
(11) Unless a court order requires the registrar to register the financing change statement, in which case the registrar may sign it, a financing change statement must be signed in the space marked "signature" by the secured party or other person having authority to sign the financing change statement, and
(a) the name of the individual signing must be typed in the space marked "Name of individual signing", or
(b) if the financing change statement is to be signed by a person who has the authority to sign for the secured party, other than as an employee or officer of a corporate secured party, the registering party must enter in the space marked "Name of agent" the name of the artificial body or individual who has authority to sign the form.
Section 15 BEFORE amended by BC Reg 326/2021, effective January 25, 2022.
General
15 (1) Part 7 of B.C. Reg. 227/2002 is adopted, except sections 52 to 54 and 56 to 59.
(2) The information required or permitted by this regulation to be set out on a paper form must be set out in a manner suitable for microfilming and the information must be typewritten or machine printed in black ink with clear, neat and legible characters without erasure, interlineations or alteration.