33 (1) A purchase-money security interest in inventory or its proceeds has priority over any other security interest in the same collateral given by the same debtor, if, (a)  the purchase-money security interest was perfected at the time, (i)  the debtor obtained possession of the inventory, or (ii)  a third party, at the request of the debtor, obtained or held possession of the inventory, whichever is earlier; (b)  before the debtor receives possession of the inventory, the purchase-money secured party gives notice in writing to every other secured party who has, before the date of registration by the purchase-money secured party, registered a financing statement that describes the collateral as, or as including, (i)  items or types of inventory, all or some of which are the same as the items or types of inventory that will be subject to the purchase money security interest, (ii)  inventory, or (iii)  accounts; and (c)  the notice referred to in clause (b) states that the person giving it has or expects to acquire a purchase-money security interest in inventory of the debtor, describing such inventory by item or type.  R.S.O. 1990, c. P.10, s. 33 (1); 2006, c. 34, Sched. E, s. 10. Purchase-money security interests other than inventory (2) Except where the collateral or its proceeds is inventory or its proceeds, a purchase-money security interest in collateral or its proceeds has priority over any other security interest in the same collateral given by the same debtor if the purchase-money security interest, (a)  in the case of collateral, other than an intangible, was perfected before or within 15 days after, (i)  the debtor obtained possession of the collateral as a debtor, or (ii)  a third party, at the request of the debtor, obtained or held possession of the collateral, whichever is earlier; or (b)  in the case of an intangible, was perfected before or within 15 days after the attachment of the purchase-money security interest in the intangible.  R.S.O. 1990, c. P.10, s. 33 (2); 2010, c. 16, Sched. 5, s. 4 (2). Extended time (2.1) Despite subsections (1) and (2), the time for perfecting a purchase-money security interest by registration and for giving the notices required by subsection (1) is extended until April 13, 1996 if, (a)  the collateral subject to the purchase-money security interest is not an intangible and, between February 16, 1996 and April 3, 1996, the debtor obtained possession of the collateral or a third party, at the request of the debtor, obtained or held possession of the collateral; or (b)  the collateral subject to the purchase-money security interest is an intangible and the purchase-money security interest attached between February 16, 1996 and April 3, 1996.  1996, c. 5, s. 3. Extended priority (2.2) A purchase-money security interest to which subsection (2.1) applies shall be deemed to have the priority given by subsection (1) or (2), as the case may be, if, within the extended time period mentioned in subsection (2.1), the purchase-money security interest is perfected by registration and the notices required by subsection (1) are given.  1996, c. 5, s. 3 (1). Priority of seller’s purchase-money security interest (3) Where more than one purchase-money security interest is given priority by subsections (1) and (2), the purchase-money security interest, if any, of the seller has priority over any other purchase-money security interest given by the same debtor.  R.S.O. 1990, c. P.10, s. 33 (3). Section Amendments with date in force (d/m/y) 1996, c. 5, s. 3 (1) - 03/04/1996; 1996, c. 5, s. 3 (2) - 27/04/1996 2006, c. 34, Sched. E, s. 10 - 01/08/2007 2010, c. 16, Sched. 5, s. 4 (2) - 25/10/2010