Section 58
Section 58
(1)
The debtor making a demand under section 57(1) may enter in the register the financing change statement referred to in section 57(2) if the secured party —
(a)
fails to comply with the demand within 15 working days after it is received; or
Secured Transactions 36
(b)
fails, within 15 working days after the demand is received, to give to the debtor a court order to maintain the registration.
(2)
The Registrar shall give the secured party a notice stating that the financing change statement will be registered unless a court order to maintain the registration is served on the Registrar within 15 working days of the date on which the notice is given to the secured party.
(3)
The notice referred to in subsection (2) must be given to the secured party as soon as reasonably practicable after the financing change statement is entered in the register.