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Marginal note:Terminology change — chairman

 The English version of the Act is amended by replacing the word “chairman” with the word “chair” wherever it occurs in the following provisions:

  • (a) subsection 36(2):

  • (b) subsection 51(3);

  • (c) section 52;

  • (d) section 66.16;

  • (e) sections 105 and 106;

  • (f) section 108; and

  • (g) section 114.

AMENDMENTS TO THE COMPANIES’ CREDITORS ARRANGEMENT ACT

  •  (1) Section 2 of the Companies’ Creditors Arrangement Act is renumbered as subsection 2(1).

  • (2) The definitions “company” and “shareholder” in subsection 2(1) of the Act are replaced by the following:

    “company”

    « compagnie »

    “company” means any company, corporation or legal person incorporated by or under an Act of Parliament or of the legislature of a province, any incorporated company having assets or doing business in Canada, wherever incorporated, and any income trust, but does not include banks, authorized foreign banks within the meaning of section 2 of the Bank Act, railway or telegraph companies, insurance companies and companies to which the Trust and Loan Companies Act applies;

    “shareholder”

    « actionnaire »

    “shareholder” means a shareholder, member or holder of any units of any company to which this Act applies;

  • (3) Subsection 2(1) of the Act is amended by adding the following in alphabetical order:

    “bargaining agent”

    « agent négociateur »

    “bargaining agent” means any trade union that has entered into a collective agreement on behalf of the employees of a company;

    “cash-flow statement”

    « état de l’évolution de l’encaisse »

    “cash-flow statement”, in respect of a company, means the statement referred to in paragraph 10(2)(a) indicating the company’s projected cash flow;

    “claim”

    « réclamation »

    “claim” means any indebtedness, liability or obligation of any kind that would be a claim provable within the meaning of section 2 of the Bankruptcy and Insolvency Act;

    “collective agreement”

    « convention collective »

    “collective agreement”, in relation to a debtor company, means a collective agreement within the meaning of the jurisdiction governing collective bargaining between the debtor company and a bargaining agent;

    “director”

    « administra- teur »

    “director”, in respect of a company, includes any person, however designated, acting in any capacity that is similar to that of a director of a corporation and, in respect of an income trust, includes its trustee;

    “income trust”

    « fiducie de revenu »

    “income trust” means a trust

    • (a) that has assets in Canada, and

    • (b) the units of which are traded on a prescribed stock exchange;

    “initial application”

    « demande initiale »

    “initial application” means the first application made under this Act in respect of a company;

    “monitor”

    « contrôleur »

    “monitor”, in respect of a company, means the person appointed under section 11.7 to monitor the business and financial affairs of the company;

    “Superintendent of Bankruptcy”

    « surintendant des faillites »

    “Superintendent of Bankruptcy” means the Superintendent of Bankruptcy appointed under subsection 5(1) of the Bankruptcy and Insolvency Act;

  • (4) Subsection 2(1) of the English version of the Act is amended by adding the following in alphabetical order:

    “prescribed”

    Marginal note:Version anglaise seulement

    “prescribed” means prescribed by regulation;

  • (5) Section 2 of the Act is amended by adding the following after subsection (1):

    • Meaning of “related”

      (2) For the purpose of this Act, section 4 of the Bankruptcy and Insolvency Act applies for the purpose of determining whether a person is related to a company.

 
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