162 When debtor, etc, may demand registration of financing change statement

The debtor or any person with an interest in property that falls within the collateral description included in a registered financing statement may give a written demand to the secured party if—

(a)

all of the obligations under the security agreement to which the financing statement relates have been performed:

(b)

the secured party has agreed to release part or all of the collateral described in the collateral description included in the financing statement:

(c)

the collateral described in the collateral description included in the financing statement includes an item or kind of property that is not collateral under a security agreement between the secured party and the debtor:

(d)

no security agreement exists between the parties:

(e)

the security interest is extinguished in accordance with this Act.

Compare: Personal Property Security Act 1993 s 50(3) (New Brunswick)