Section 64
Secured party may render collateral unusable
ActIn forceProvision 60 of 87
Section 64
(1)
A secured party with priority over all other secured parties may render the collateral unusable under section 63 if the collateral is of a kind —
(a)
that cannot be readily removed from the premises of the debtor; or
(b)
for which adequate storage facilities are not readily available.
Secured Transactions
B.L.R.O. 8/2022 39
(2)
If subsection (1) applies, the secured party may dispose of the collateral on the premises of the debtor:
Provided that it shall not cause the person in possession of the premises, if other than the debtor, any greater inconvenience than is necessary.