The Personal Property Security Act, S.P.E.I. 1997, Cap. 33, was passed in the Legislative Assembly and given royal assent in May 1997. Subsequently, Act to Amend the Personal Property Security Act, Cap. 67 was assented to December 24, 1997. The electronic registry supports the new Personal Property Security Act, proclaimed with the commencement of the new system. A number of existing acts were amended and the following acts repealed:
- Assignment of Book Debts Act
- Bills of Sales Act
- Bulk Sales Act
- Conditional Sales Act
- Corporation Securities Registration Act
- Personal Property Security Act (1990)
- Potato Crop Mortgage Act (1988)