Section 254 — Bankruptcy and Insolvency Act: Application of other provisions

All of the provisions of this Act apply, with such modifications as the circumstances require, in respect of claims by customers for securities and customer name securities as if customers were creditors in respect of such claims. Sections 95 to 101 apply, with such modifications as the circumstances require, in respect of transactions of a customer with or through a securities firm relating to securities. This Part does not apply to proceedings under Part III. Nothing in this Part affects the rights of a party to a contract, including an eligible financial contract, with respect to termination, netting or setting off or compensation. The operation of this Part is subject to the rights of secured creditors.