Bankruptcy and Insolvency Act

Marginal note:Summary administration

155 The following provisions apply to the summary administration of estates under this Act:

• (a) all proceedings under this section shall be entitled “Summary Administration”;

• (b) the security to be deposited by a trustee under section 16 shall not be required unless directed by the official receiver;

• (b.1) [Repealed, 1992, c. 1, s. 161]

• (c) a notice of the bankruptcy shall not be published in a local newspaper unless such publication is deemed expedient by the trustee or ordered by the court;

• (d) all notices, statements and other documents shall be sent in the prescribed manner;

• (d.1) if a first meeting of the creditors is requested by the official receiver or by creditors who have in the aggregate at least 25% in value of the proven claims, the trustee shall call the meeting, in the prescribed form and manner, and it must be held within 21 days after being called;

• (e) there shall be no inspectors unless the creditors decide to appoint them, and if no inspectors are appointed, the trustee, in the absence of directions from the creditors, may do all things that may ordinarily be done by the trustee with the permission of the inspectors;

• (f) in such circumstances as are specified in directives of the Superintendent, the estates of individuals who, because of their relationship, could reasonably be dealt with as one estate may be dealt with as one estate;

• (g) in such circumstances as are specified in directives of the Superintendent and with the approval of the Superintendent, the trustee may deposit all moneys relating to the summary administration of estates in a single trust account;

• (h) a notice of bankruptcy and

  • (i) a notice of impending automatic discharge of the bankrupt, or

  • (ii) an application for discharge of the bankrupt

  may be given in a single notice in the prescribed form;

• (i) notwithstanding section 152, the procedure respecting the trustee’s accounts, including the taxation thereof shall be as prescribed;

• (j) notwithstanding subsections 41(1), (5) and (6), the procedure for the trustee’s discharge shall be as prescribed; and

• (k) the court’s authorization referred to in subsection 30(4) for a sale or disposal of any of the bankrupt’s property to a person who is related to the bankrupt is required only if the creditors decide that the authorization is required.