Bankruptcy and Insolvency General Rules

Version of section 101 from 2007-03-22 to 2009-09-17:

  •  (1) If the administrator receives no notice of objection within the time limit set out in subsection 100(2), the administrator shall, within three months after the day on which the notice referred to in subsection 100(1) is sent,

    • (a) if the administrator has not already done so, send each creditor the final dividend that is owed to them;

    • (b) close the bank account used in administering the consumer proposal, if that account is not a consolidated account, or, if the account is a consolidated account, ensure that all funds governed by the consumer proposal have been withdrawn from it;

    • (c) remit any unclaimed dividends and undistributed funds to the Superintendent; and

    • (d) send to the Division Office a certificate of compliance and deemed discharge, in prescribed form.

  • (2) The administrator is deemed to be discharged on meeting the requirements of subsection (1).

  • (3) If the administrator receives a notice of objection within the time limit set out in subsection 100(2), the administrator shall

    • (a) advise the Division Office of the objection;

    • (b) obtain a hearing date from the registrar; and

    • (c) within 30 days after the day on which the notice of objection is received, send the objecting creditor a notice of hearing, which notice must be sent at least 30 days before the date of the hearing and must be in prescribed form.

  • SOR/78-389, s. 5
  • SOR/98-240, s. 1
  • SOR/2007-61, s. 63(E)
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