In an earlier edition of Fully Secured (December 14, 2011
– Volume 2, Number 4) we reported on pending amendments to
the BCPPSA1, expanding the definition of the term
"licence" and including a licence as an
"intangible" to which the BCPPSA applies. Those
amendments came into force on September 1, 2012, and as a result it
is now easier in B.C. for the holder of a licence relating to
personal property to offer its licence as collateral and for a
lender to take enforceable security charging that licence. In
particular, the definition of "licence" has been expanded
to mean a grant of rights which entitles the holder of the rights
to deal with or acquire personal property or provide services. Thus
it now includes licences granted by a governmental authority, such
as fishing, forestry and liquor licences, and non-governmental
licences relating to personal property entered into between other
1.Personal Property Security Act,
RSBC 1996, c 359
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