Bankruptcy and Insolvency General Rules

Version of section 123 from 2006-03-22 to 2007-03-21:

  •  (1) Subject to subsection (2) and (3), the rate of levy payable on all payments, pursuant to section 147 of the Act, is

    • (a) five per cent, where the amount of payments is $1,000,000 or less;

    • (b) five per cent of the first $1,000,000, plus one and one-quarter per cent of the amount in excess of $1,000,000, where the amount of payments exceeds $1,000,000 but is not more than $2,000,000; or

    • (c) five per cent of the first $1,000,000, one and one-quarter per cent of the second $1,000,000, plus one-quarter of one per cent of the amount in excess of $2,000,000, where the amount of payments exceeds $2,000,000.

  • (2) The rate of levy payable in a proposal is

    • (a) five per cent, where the amount of payments is $1,000,000 or less;

    • (b) five per cent of the first $1,000,000, plus one and one-quarter per cent of the amount in excess of $1,000,000, where the amount of payments exceeds $1,000,000 but is not more than $2,000,000; or

    • (c) five per cent of the first $1,000,000, one and one-quarter per cent of the second $1,000,000, plus zero per cent of the amount in excess of $2,000,000, where the amount of payments exceeds $2,000,000.

  • (3) The rate of levy payable for an estate under summary administration is

    • (a) 100 per cent, where the amount of payments is $200 or less; or

    • (b) 100 per cent of the first $200 plus zero per cent of the amount in excess of $200, where the amount of payments exceeds $200.

  • (4) The rate of levy set out in subsection (3) applies to all estates under summary administration for which the final statement of receipts and disbursements has been received by the Division Office on or after the date of coming into force of that subsection.

  • SOR/92-579, s. 30
  • SOR/98-240, s. 1
  • SOR/2001-155, s. 1
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