Personal Property Securities Act 1999

If you need more information about this Act, please contact the administering agency: Ministry of Business, Innovation, and Employment
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)