PPSA

Regulations and Authorities - Consumer Protection pillar

Also known as: Personal Property Security Act

Personal Property Security Act. Ontario law governing security interests in personal property. A PPSA registration against a person is how rental companies perfect their interest in HVAC equipment.

The PPSA (Personal Property Security Act) is the Ontario statute governing security interests in personal property (as opposed to real estate). When a homeowner signs an HVAC rental contract, the rental company perfects its security interest by registering against the consumer's name in the PPSA registry. This registration is what flows to credit bureaus (typically picked up about 6 weeks after registration) and what enables collections action if the consumer stops paying. Unlike NOSIs, PPSA registrations against the person remain fully enforceable and were not affected by Bill 200.

See the full Ontario HVAC and home energy glossary or browse the Consumer Protection pillar.