PEI PPR News
This issue of the PEI PPR News is distributed to all of our PEI and Nova Scotia clients since there will be changes to the ACOL/PPR system when the PEI PPR becomes accessible. This newsletter confirms the effective date of the new PPSA legislation for PEI. It also discusses some of the activities leading up to this important date.
PEI Live Date
On Monday, March 3, 1998, the Attorney General of Prince Edward Island, the Honourable P. Mitchell Murphy, announced the new Personal Property Security Act will become effective onMonday, April 27, 1998.
The new legislation, which is similar to the current legislation in Nova Scotia and New Brunswick, will change the way secured interests in personal property are registered. This means that documents received at the registry on or after April 27 1998, that are based upon repealed legislation, will be returned to the sender.
There will be three types of registrations in the PEI PPR which include 1) a PPSA Financing Statement, 2) a Notice of Appointment of Receiver and 3) a Notice of an Order under the Family Law Act. All three registrations must be entered on line in the new electronic Personal Property Registry (PPR). Priority of the Secured Party’s interest is established at the time of registration. Documents registered in the old system will retain their priority status for a maximum of three years. If their expiry date is beyond three years, they must be re-registered in the new Personal Property Registry within the three-year period.
Access to the New PEI PPR
Access to the new PPR in PEI will be through Atlantic Canada On-Line*. This service allows you to connect from your home or office personal computer. While it is expected that most transactions will be completed remotely, access terminals will be available at the three county-based court houses for your convenience. They are located in Charlottetown, Summerside, and Georgetown where the current files are stored. You must have an ACOL Client Account and User ID to access the system. To obtain your Client Account and User ID, call the ACOL Client Support Centre at 1-888-624-2265 and request your Information Kit today.
If you are an existing ACOL client and wish to have access privileges extended to the PEI PPR, contact the Client Support Centre and request your ACOL Addendum to Client Application and the PEI PPR Product Description documents.
PEI PPR Training
Half-day computer training seminars for the new electronic Personal Property Registry System have been scheduled. Please call the ACOL Client Support Centre and register for your session.
Seminars in Charlottetown will be held in the Y2K Lab. at Holland College (140 Weymouth Street). The session dates and times are:March 24, 9:00 - 12:00 a.m.
March 24, 1:00 - 4:00 p.m.
March 25, 9:00 -12:00 a.m.
March 25, 1:00 - 4:00 p.m.
Seminars in Summerside will be held in the Micro Computer Lab. at Holland College (425 Grandville Street). The session dates and times are:March 26, 9:00 - 12:00 a.m.
March 26, 1:00 - 4:00 p.m.
PEI Provincial Personal Property Registrar
The Attorney General, Honourable P. Mitchell Murphy, recently appointed Ms. Judy Haldemann as the Personal Property Registrar for the Province of PEI. This new role will be in addition to her current responsibilities as Solicitor, in the Legal Services Section of the Attorney General’s Office. Ms. Haldemann was responsible for the drafting of the PEI legislation. We wish Ms. Haldemann well in her new role.
Software Availability for New Clients
The ACOL Welcome Package will begin distribution during the last week of March. It will be sent to new clients who have completed and returned their ACOL Client Application and Financial Agreements. This package will include a welcome letter, User ID’s and passwords, a software licence, installation instructions and the ACOL Desktop software diskettes. Review all information and install the software on your personal computer.
Software Availability for Existing Clients
Existing clients who have returned their ACOL Addendum to Client Application will be processed in late March. Access to the ACOL administration functions and to the Nova Scotia PPR will continue. Temporary access to the PEI PPR will be available on April 6th.
April 6 to April 22
During the period of April 6 to April 22, temporary access to the PEI Personal Property Registry will be available through ACOL. This will be a period when administrative ACOL and PEI PPR functions can be performed. It will also be a period when test registrations and other functions can be performed in the PEI registry. Since the legislation will not be effective during this period, these registrations will be temporary and removed from the registry prior to the effective date of the legislation.
The usual access to the Nova Scotia PPR will continue during this period. Since the Nova Scotia PPR is active and supported in legislation, registrations, amendments and discharges will be permanently applied to the PPR. These and other Nova Scotia transactions will result in the deduction of appropriate fees from your account when performed.
Watch for the next newsletter which will be distributed during the last week of March. It will describe the new multi-provincial functionality of the ACOL/PPR system that will be available on April 6.
PEI PPR Service Providers List
We would like to compile a reference list of individuals or companies that are interested in offering PEI PPR services to the citizens and businesses of Prince Edward Island. This list will be available in the court registries and published on the ACOL Homepage. Businesses and members of the public, who are not familiar with the Personal Property Registry or the PPSA, can be directed to this list of PPR service providers. If you wish to be included on this list, call the ACOL Client Support Centre and provide our representatives with your name and other relevant details.
Keeping in Touch