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StatuteBankruptcy and Insolvency Act

Section 226 — Bankruptcy and Insolvency Act: Consolidation order not to be issued

Text of the provision Official document

A consolidation order that does not provide for the payment in full of all the debts to which it refers within a period of three years shall not be issued unless all registered creditors consent thereto in writing; or the order is approved by the court. Where a registered creditor does not give any response to a request for consent under paragraph (1)(a) within thirty days after receiving such a request, the creditor shall be deemed to have consented to the order. Any consolidation order referred to in subsection (1) shall be referred to the court for approval or otherwise by the clerk on notice of motion to any registered creditor who has not consented thereto in writing.

Official source: laws-lois.justice.gc.ca

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Statutory text from an official public source. Informational content — does not replace advice from a qualified lawyer.