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Bankruptcy and Insolvency Act

Version of section 71 from 2002-12-31 to 2004-12-14:

  •  (1) [Repealed, 1997, c. 12, s. 67]

  • Marginal note:Vesting of property in trustee

    (2) On a receiving order being made or an assignment being filed with an official receiver, a bankrupt ceases to have any capacity to dispose of or otherwise deal with his property, which shall, subject to this Act and to the rights of secured creditors, forthwith pass to and vest in the trustee named in the receiving order or assignment, and in any case of change of trustee the property shall pass from trustee to trustee without any conveyance, assignment or transfer.

  • R.S., 1985, c. B-3, s. 71
  • 1997, c. 12, s. 67

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