Secured Transactions Act · s 63

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s 63General principle of enforceability

(1)

If the debtor is in default, a secured party may —

(a)

take possession of a collateral; or

(b)

without removal, render the collateral unusable under section 64.

(2)

A secured party may proceed under this section —

(a)

to judicial process; or

(b)

without judicial process, if the debtor does not resist the removal of the collateral.

(3)

The commencement of enforcement requires registration of the enforcement form which shall identify —

(a)

the debtor;

(b)

the secured party; and

(c)

the collateral against which enforcement is sought.

(4)

A prior notice to the debtor is not required for the secured party to repossess or render the collateral unusable under this section.