Section 258 — Bankruptcy and Insolvency Act: Deferred customers

Where the trustee is of the opinion that a customer should be treated as a deferred customer, the trustee shall apply to the court for a ruling on the matter and shall send the customer a copy of the application, together with a statement of the reasons why the customer should be so treated, and the court may, on such notice as it considers appropriate, make such order as it considers appropriate in the circumstances. Where securities accounts of customers are protected by a customer compensation body, the customer compensation body may apply to the court for a ruling as to whether a customer should be treated as a deferred customer and, in the case of such an application, the customer compensation body shall send the customer a copy of the application together with a statement setting out the reasons why the customer should be so treated; and the court may, on such notice as it considers appropriate, make such order as it considers appropriate in the circumstances.