In an earlier edition of Fully Secured (July 14, 2010 - Volume
1, No. 1), we reported on the Ontario Government's deferral of
the August 1, 2007 amendment to the Ontario PPSA which was designed
to repeal the "Check the Box" system used on financing
statements to identify the collateral charged. A new system
requiring full collateral description narratives similar to that
used in most other provinces and in the United States had been
proposed. However, the implementation of that replacement system
has been deferred to provide the Ministry with time to modify its
PPSA computer search and registration system to accommodate the
The initially contemplated two year implementation period has
now stretched into five years and counting. Based upon our
discussions with Ministry officials, no implementation date has
been set, and so far as we are aware, no regulations,
Minister's orders or Registrar's orders have been drafted
to effect the change. Therefore, it seems we will be using with the
"Check the Box" system for a while longer. We will
continue to monitor this matter and report on future
* Nate Appleton, an articling student in the Toronto Office,
also contributed to this post
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