Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-3)

Act current to 2017-09-27 and last amended on 2017-09-21. Previous Versions

Marginal note:Report of offence
  •  (1) Where the official receiver or trustee believes on reasonable grounds that an offence under this Act or the Criminal Code relating to the property of the bankrupt was committed either before or after the date of the initial bankruptcy event by the bankrupt or any other person, the official receiver or trustee shall make a report thereon to the Deputy Attorney General or other appropriate legal officer of the province concerned or to such person as is duly designated by that legal officer for that purpose.

  • Marginal note:Copy to Superintendent

    (2) A copy of a report made under subsection (1) shall be sent by the official receiver or trustee to the Superintendent.

  • R.S., 1985, c. B-3, s. 206;
  • 1997, c. 12, s. 111;
  • 2004, c. 25, s. 94(F).
Marginal note:Substance of offence charged in indictment

 In an information, complaint or indictment for an offence under this Act, it is sufficient to set out the substance of the offence charged in the words of this Act, specifying the offence or as near thereto as circumstances admit, without alleging or setting out any debt, act of bankruptcy, trading, adjudication or any proceedings in, or order, warrant or document of, any court acting under this Act.

  • R.S., c. B-3, s. 178.
Marginal note:Time within which prosecutions to be commenced

 A prosecution by indictment under this Act shall be commenced within five years from the time of the commission of the offence and, in the case of an offence punishable on summary conviction, the complaint shall be made or the information laid within three years from the time when the subject-matter of the complaint or information arose.

  • R.S., c. B-3, s. 179.

PART IXMiscellaneous Provisions

Marginal note:General Rules
  •  (1) The Governor in Council may make, alter or revoke, and may delegate to the judges of the courts exercising bankruptcy jurisdiction under this Act the power to make, alter or revoke the General Rules for carrying into effect the object of this Act.

  • (2) [Repealed, 2005, c. 47, s. 113]

  • (3) [Repealed, 1997, c. 12, s. 112]

  • Marginal note:To be judicially noticed

    (4) The General Rules have effect as if enacted by this Act and shall be judicially noticed.

  • R.S., 1985, c. B-3, s. 209;
  • 1997, c. 12, s. 112;
  • 2005, c. 47, s. 113.

 [Repealed, 1992, c. 27, s. 78]

Marginal note:Rights of banks, etc.

 Nothing in this Act, other than sections 69 to 69.4 and 81 and 81.1, 81.2 and Part XI, interferes with or restricts the rights and privileges conferred on banks, authorized foreign banks within the meaning of section 2 of the Bank Act and banking corporations by that Act.

  • R.S., 1985, c. B-3, s. 212;
  • 1992, c. 27, s. 79;
  • 1999, c. 28, s. 147.
Marginal note:Winding-up and Restructuring Act not to apply

 If an application for a bankruptcy order or an assignment has been filed under this Act in respect of a corporation, the Winding-up and Restructuring Act does not extend or apply to that corporation, despite anything contained in that Act, and any proceedings that are instituted under the Winding-up and Restructuring Act in respect of that corporation before the application or assignment is filed under this Act shall abate subject to any disposition of the costs of those proceedings to be made in the bankruptcy proceedings that the justice of the case may require.

  • R.S., 1985, c. B-3, s. 213;
  • 1996, c. 6, s. 167;
  • 2004, c. 25, s. 95.
Marginal note:Fees to officers of the court

 The fees payable to officers of the court including official receivers shall be established by the General Rules, whether generally or for a particular province, and where so mentioned in the General Rules, shall belong to the Crown in right of the province.

  • R.S., 1985, c. B-3, s. 214;
  • 1992, c. 27, s. 80;
  • 1997, c. 12, s. 113.
Marginal note:No action against Superintendent, etc., without leave of court

 Except by leave of the court, no action lies against the Superintendent, an official receiver, an interim receiver or a trustee with respect to any report made under, or any action taken pursuant to, this Act.

  • R.S., 1985, c. B-3, s. 215;
  • 1992, c. 27, s. 80.
Marginal note:Claims in foreign currency

 A claim for a debt that is payable in a currency other than Canadian currency is to be converted to Canadian currency

  • (a) in the case of a proposal in respect of an insolvent person and unless otherwise provided in the proposal, if a notice of intention was filed under subsection 50.4(1), as of the date the notice was filed or, if no notice was filed, as of the date the proposal was filed with the official receiver under subsection 62(1);

  • (b) in the case of a proposal in respect of a bankrupt and unless otherwise provided in the proposal, as of the date of the bankruptcy; or

  • (c) in the case of a bankruptcy, as of the date of the bankruptcy.

  • 2005, c. 47, s. 114.

 [Repealed, 2007, c. 36, s. 55]

PART XOrderly Payment of Debts

Marginal note:Definitions

 In this Part,

clerk

greffier

clerk means a clerk of the court; (greffier)

court

tribunal

court means

  • (a) in the Provinces of Manitoba and Alberta, the Court of Queen’s Bench, and

  • (b) in any other province, such court as is designated by the regulations for the purposes of this Part; (tribunal)

debtor

débiteur

debtor means an insolvent debtor, but does not include a corporation; (débiteur)

registered creditor

créancier inscrit

registered creditor means a creditor who is named in a consolidation order. (créancier inscrit)

  • R.S., c. B-3, s. 188;
  • 1978-79, c. 11, s. 10;
  • 1984, c. 41, s. 2.
Marginal note:Application
  •  (1) This Part applies only to the following classes of debts:

    • (a) a judgment for the payment of money where the amount of the judgment does not exceed one thousand dollars;

    • (b) a judgment for the payment of money where the amount of the judgment is in excess of one thousand dollars if the judgment creditor consents to come under this Part;

    • (c) a claim or demand for or in respect of money, debt, account, covenant or otherwise, not in excess of one thousand dollars; and

    • (d) a claim or demand for or in respect of money, debt, account, covenant or otherwise, in excess of one thousand dollars if the creditor having the claim or demand consents to come under this Part.

  • Marginal note:Exception

    (2) Notwithstanding subsection (1), this Part does not apply to the following classes of debts:

    • (a) a debt due, owing or payable

      • (i) to Her Majesty in right of Canada or a province,

      • (ii) to a municipality in Canada, or

      • (iii) to a school district in Canada;

    • (b) a debt relating to the public revenue or one that may be levied and collected in the form of taxes;

    • (c) a covenant in a mortgage or charge on land or in an agreement for sale of land; or

    • (d) a debt incurred by a trader or merchant in the ordinary course of his business.

  • Marginal note:Idem

    (3) Notwithstanding subsection (1), this Part does not apply to the following classes of debts, unless the creditor consents to come under this Part:

    • (a) in the Province of Manitoba,

      • (i) a claim for wages that may be heard before, or a judgment therefor by, a magistrate under The Wages Recovery Act, or

      • (ii) a claim for a mechanic’s lien or a judgment thereon under The Mechanic’s Liens Act;

    • (b) in the Province of Alberta,

      • (i) a claim for wages that may be heard before, or a judgment therefor by, a magistrate under The Masters and Servants Act,

      • (ii) a claim for a lien or a judgment thereon under The Mechanic’s Lien Act or The Mechanics Lien Act, 1960, or

      • (iii) a claim for a lien under The Garagemen’s Lien Act; or

    • (c) in any other province, any debt of a class designated by the regulations to be a class of debts to which this Part does not apply.

  • R.S., c. B-3, s. 189.
 
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