Another Appeal for Pragmatic Reform: The Future of Section 427 Bank Act Security and Canadian Personal Property Security Law

Abstract

In this paper, I propose specific amendments to the Bank Act security provisions that will ultimately result in the repeal of Bank Act security. While the concept of repealing Bank Act security is certainly not novel, my recommended approach is unique in that it diverges from the Law Commission of Canada’s recommendations in the following article: “Modernizing Canada’s Secured Transactions Law: The Bank Act Security Provisions” (Ottawa: Law Commission of Canada, 2004).