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Wage Earner Protection Program Regulations (SOR/2008-222)

Regulations are current to 2019-12-03 and last amended on 2016-09-30. Previous Versions

Fees and Expenses

  •  (1) For the purpose of subsection 22(2) of the Act, the Minister shall, on application by the trustee or receiver, pay the fees and expenses in relation to the performance of their duties under the Act if

    • (a) the trustee or receiver provides a copy of their final statement of receipts and disbursements for the bankruptcy or receivership;

    • (b) the final statement of receipts and disbursements for the bankruptcy or receivership shows a deficit;

    • (c) no guarantee has been provided by a creditor of the employer in respect of the fees and expenses; and

    • (d) the fees in relation to the performance of duties under section 21 of the Act are equal to at least 10% of the total fees charged for the administration of the bankruptcy or receivership.

  • (2) The amount payable is equal to the lesser of

    • (a) the amount of the deficit shown in the final statement of receipts and disbursements, and

    • (b) the amount obtained by adding $600 for the first wage claim to the amount determined by multiplying $35 by the number of subsequent claims.

  •  (1) For the purposes of subsection 22(2) of the Act, the Minister shall, on application by the trustee or receiver, pay the fees and expenses for their administration of the estate or property if

    • (a) the trustee or receiver provides a copy of their final statement of receipts and disbursements for the bankruptcy or receivership;

    • (b) the final statement of receipts and disbursements for the bankruptcy or receivership shows a deficit;

    • (c) the amount determined in accordance with the following formula is greater than zero and less than or equal to the value of the rights under sections 81.3 and 81.4 of the Bankruptcy and Insolvency Act:

      X - Y

      where

      X
      is equal to the current assets realized, and
      Y
      is the sum of the value of the rights under sections 81.1 and 81.2 of the Bankruptcy and Insolvency Act and the amounts referred to in subsection 67(3) of that Act that have been deemed to be held in trust; and
    • (d) the value of the rights under sections 81.3 and 81.4 of the Bankruptcy and Insolvency Act constitutes the entire value of the property in the possession of the trustee or receiver.

  • (2) The amount payable is equal to the least of the following amounts, minus any amount paid under section 18:

    • (a) the sum of

      • (i) 95% of the value of current assets realized that are worth less than $2,000,

      • (ii) 50% of the value of current assets realized that are worth between $2,000 and $4,000,

      • (iii) 35% of the value of current assets realized that are worth between $4,000.01 and $10,000,

      • (iv) 5% of the value of current assets realized that are worth $10,000.01 or more, and

      • (v) the fees and expenses

        • (A) for taking possession of the property, making an inventory and securing and insuring the property,

        • (B) for mail-outs to creditors to advise them of the meeting of creditors and the discharge hearing of the trustee,

        • (C) for the cost of publishing a newspaper notice of the bankruptcy,

        • (D) of the official receiver and the registrar, and

        • (E) for other items that may be allowed by the court on the taxation of the statement of receipts and disbursements to a maximum of $1,000;

    • (b) if a guarantee has been provided by a creditor of the employer in respect of the fees and expenses, the value of that guarantee; and

    • (c) the value of the rights under sections 81.3 and 81.4 of the Bankruptcy and Insolvency Act.

Coming into Force

Footnote * These Regulations come into force on the day on which the Wage Earner Protection Program Act, as enacted by section 1 of chapter 47 of the Statutes of Canada, 2005, comes into force.

 
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