Bankruptcy and Insolvency General Rules
65 (1) If a trustee receives no notice of objection within the time limit set out in subsection 64(2), the trustee shall
(a) at the expiration of that time limit, take the trustee’s fee;
(b) at the expiration of that time limit, if the trustee has not already done so, send a final dividend to each creditor to whom one is owed; and
(c) within three months after the day on which the notice referred to in subsection 64(1) is sent,
(i) close the bank account used in administering the estate of the bankrupt, if that account is not a consolidated account, or, if the account is a consolidated account, ensure that all estate funds have been withdrawn from it,
(ii) remit any unclaimed dividends and undistributed funds to the Superintendent, and
(iii) send to the Division Office a certificate of compliance and deemed discharge, in prescribed form.
(2) A trustee is deemed to be discharged on meeting the requirements of paragraphs (1)(b) and (c).
(3) If a trustee receives a notice of objection within the time limit set out in subsection 64(2), the trustee 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/81-646, s. 4
- SOR/98-240, s. 1
- SOR/2007-61, s. 63(E)
- Date modified: