30 (1) If no other provision of this Act is applicable, the following priority rules apply to security interests in the same collateral: 1.  Where priority is to be determined between security interests perfected by registration, priority shall be determined by the order of registration regardless of the order of perfection. 2.  Where priority is to be determined between a security interest perfected by registration and a security interest perfected otherwise than by registration, i.  the security interest perfected by registration has priority over the other security interest if the registration occurred before the perfection of the other security interest, and ii.  the security interest perfected otherwise than by registration has priority over the other security interest, if the security interest perfected otherwise than by registration was perfected before the registration of a financing statement related to the other security interest. 3.  Where priority is to be determined between security interests perfected otherwise than by registration, priority shall be determined by the order of perfection. 3.1  Where priority is to be determined between perfected security interests in a prescribed class of collateral, priority shall be determined in accordance with the regulations. 4.  Where priority is to be determined between unperfected security interests, priority shall be determined by the order of attachment.  R.S.O. 1990, c. P.10, s. 30 (1); 2019, c. 7, Sched. 49, s. 8. Idem (2) For the purpose of subsection (1), a continuously perfected security interest shall be treated at all times as if perfected by registration, if it was originally so perfected, and it shall be treated at all times as if perfected otherwise than by registration if it was originally perfected otherwise than by registration.  R.S.O. 1990, c. P.10, s. 30 (2). Future advances (3) Subject to subsection (4), where future advances are made while a security interest is perfected, the security interest has the same priority with respect to each future advance as it has with respect to the first advance.  R.S.O. 1990, c. P.10, s. 30 (3). Exception (4) A future advance under a perfected security interest is subordinate to the rights of persons mentioned in subclauses 20 (1) (a) (ii) and (iii) if the advance was made after the secured party received written notification of the interest of any such person unless, (a)  the secured party makes the advance for the purpose of paying reasonable expenses, including the cost of insurance and payment of taxes or other charges incurred in obtaining and maintaining possession of the collateral and its preservation; or (b)  the secured party is bound to make the advance, whether or not a subsequent event of default or other event not within the secured party’s control has relieved or may relieve the secured party from the obligation.  R.S.O. 1990, c. P.10, s. 30 (4). Proceeds (5) For the purpose of subsection (1), the date for registration or perfection as to collateral is also the date for registration or perfection as to proceeds.  R.S.O. 1990, c. P.10, s. 30 (5). Reperfected security interests (6) Where a security interest that is perfected by registration becomes unperfected and is again perfected by registration, the security interest shall be deemed to have been continuously perfected from the time of first perfection except that if a person acquired rights in all or part of the collateral during the period when the security interest was unperfected, the registration shall not be effective as against the person who acquired the rights during such period.  R.S.O. 1990, c. P.10, s. 30 (6). Same, extended time (6.1) Despite subsection (6), where a security interest that is perfected by registration becomes unperfected between February 26, 1996 and April 3, 1996, the security interest shall be deemed to have been continuously perfected from the time of first perfection if the security interest is again perfected by registration by April 12, 1996.  1996, c. 5, s. 2. Deemed trusts (7) A security interest in an account or inventory and its proceeds is subordinate to the interest of a person who is the beneficiary of a deemed trust arising under the Employment Standards Act, 2000, the Pension Benefits Act
or the Pooled Registered Pension Plans Act, 2015. R.S.O. 1990, c. P.10, s. 30 (7); 2015, c. 9, s. 32. Exception (8) Subsection (7) does not apply to a perfected purchase-money security interest in inventory or its proceeds.  R.S.O. 1990, c. P.10, s. 30 (8). Section Amendments with date in force (d/m/y) 1996, c. 5, s. 2 (1) - 03/04/1996; 1996, c. 5, s. 2 ( 2) - 27/04/1996 2015, c. 9, s. 32
- 08/11/2016 2016, c. 17, s. 97
- no effect - see: 2016, c. 37, Sched. 18, s. 5 - 08/12/2016 2019, c. 7, Sched. 49, s. 8 - 15/05/2020