Bankruptcy and Insolvency General Rules
43 (1) Subject to subsection (2), where trustees have a responsibility to sell property in connection with a proposal or bankruptcy, they shall not sell the property, directly or indirectly,
(a) to their employees or agents, or persons not dealing at arms’ length with the trustees;
(b) to other trustees or, knowingly, to employees of other trustees; or
(c) to related persons of the trustees or, knowingly, to related persons of the persons referred to in paragraph (a) or (b).
(2) Where trustees have a responsibility to act in accordance with subsection (1), they may sell property in connection with a proposal or bankruptcy to the persons set out in paragraph (1)(a), (b) or (c), if the property is offered for sale
(a) at the same time as it is offered to the public;
(b) at the same price as it is offered to the public; and
(c) during the normal course of business of the bankrupt or debtor.
- SOR/98-240, s. 1
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