Bankruptcy and Insolvency Act
Sections and provisions with full text and the judgments that cite each one.
Section 69.5 — Provincial legislation
Except for paragraphs 69(1)(c) and (d) and 69.1(1)(c) and (d), sections 69 to 69.3 do not affect the operation of any provision of provincial legislation that has a similar purpose to subsection…
Section 69.6 — Meaning of regulatory body
In this section, regulatory body means a person or body that has powers, duties or functions relating to the enforcement or administration of an Act of Parliament or of the legislature of a province…
Section 70 — Precedence of bankruptcy orders and assignments
Every bankruptcy order and every assignment made under this Act takes precedence over all judicial or other attachments, garnishments, certificates having the effect of judgments, judgments,…
Section 71 — Vesting of property in trustee
On a bankruptcy order being made or an assignment being filed with an official receiver, a bankrupt ceases to have any capacity to dispose of or otherwise deal with their property, which shall,…
Section 72 — Application of other substantive law
The provisions of this Act shall not be deemed to abrogate or supersede the substantive provisions of any other law or statute relating to property and civil rights that are not in conflict with this…
Section 72.1 — Intellectual property — sale or disposition
If the bankrupt is a party to an agreement that grants to another party a right to use intellectual property that is included in a sale or disposition by the trustee, that sale or disposition does…
Section 73 — Purchaser in good faith at sale protected
An execution levied by seizure and sale of the property of a bankrupt is not invalid by reason only of its being an act of bankruptcy, and a person who purchases the property in good faith under a…
Section 74 — Registration of bankruptcy order or assignment
Every bankruptcy order, or a true copy certified by the registrar or other officer of the court that made it, and every assignment, or a true copy certified by the official receiver, may be…
Section 75 — Law of province to apply in favour of purchaser for value
Despite anything in this Act, a deed, transfer, agreement for sale, mortgage, charge or hypothec made to or in favour of a bona fide purchaser, mortgagee or hypothecary creditor for adequate valuable…
Section 76 — Property not to be removed from province
No property of a bankrupt shall be removed out of the province in which the property was at the date when the bankruptcy order or assignment was made, without the permission of the inspectors or an…
Section 77 — Contributory shareholders
Every shareholder or member of a bankrupt corporation is liable to contribute the amount unpaid on his shares of the capital or on his liability to the corporation, its members or creditors, as the…
Section 78 — Bank must notify trustee
Where a banker has ascertained that a person having an account with the banker is an undischarged bankrupt, it is his duty forthwith to inform the trustee of the existence of the account, and…
Section 79 — Inspection of property held in pledge
Where property of a bankrupt is held as a pledge, hypothec, pawn or other security, the trustee may give notice in writing of the trustee’s intention to inspect the property, and the person so…
Section 80 — Protection of trustee
If the trustee has seized or disposed of property in the possession or on the premises of a bankrupt without notice of any claim in respect of the property and after the seizure or disposal it is…
Section 81 — Persons claiming property in possession of bankrupt
Where a person claims any property, or interest therein, in the possession of a bankrupt at the time of the bankruptcy, he shall file with the trustee a proof of claim verified by affidavit giving…
Section 81.1 — Right of unpaid supplier to repossess goods
Subject to this section, if a person (in this section referred to as the “supplier”) has sold to another person (in this section referred to as the “purchaser”) goods for use in relation to the…
Section 81.2 — Special right for farmers, fishermen and aquaculturists
Where a farmer has sold and delivered products of agriculture, a fisherman has sold and delivered products of the sea, lakes and rivers, or an aquaculturist has sold and delivered products of…
Section 81.3 — Security for unpaid wages, etc. — bankruptcy
The claim of a clerk, servant, travelling salesperson, labourer or worker who is owed wages, salaries, commissions or compensation by a bankrupt for services rendered during the period beginning on…
Section 81.4 — Security for unpaid wages, etc. — receivership
The claim of a clerk, servant, travelling salesperson, labourer or worker who is owed wages, salaries, commissions or compensation by a person who is subject to a receivership for services rendered…
Section 81.5 — Security for unpaid amounts re prescribed pensions plan — bankruptcy
If the bankrupt is an employer who participated or participates in a prescribed pension plan for the benefit of the bankrupt’s employees, the following amounts that are unpaid on the date of…
Section 81.6 — Security for unpaid amounts re prescribed pensions plan — receivership
If a person who is subject to a receivership is an employer who participated or participates in a prescribed pension plan for the benefit of the person’s employees, the following amounts that are…
Section 81.7 — Right of unpaid supplier of perishable fruits or vegetables
Subject to this section, if a person (in this section referred to as the “supplier”) has sold to another person (in this section referred to as the “purchaser”) perishable fruits or vegetables for…
Section 82 — Trustee to have right to sell patented articles
If any property of a bankrupt vesting in a trustee consists of articles that are subject to a patent or to a certificate of supplementary protection issued under the Patent Act and were sold to the…
Section 83 — Copyright and manuscript to revert to author
Notwithstanding anything in this Act or in any other statute, the author’s manuscripts and any copyright or any interest in a copyright in whole or in part assigned to a publisher, printer, firm or…
Section 84 — Effect of sales by trustee
All sales of property made by a trustee vest in the purchaser all the legal and equitable estate of the bankrupt therein.
Section 84.1 — Assignment of agreements
On application by a trustee and on notice to every party to an agreement, a court may make an order assigning the rights and obligations of a bankrupt under the agreement to any person who is…
Section 84.2 — Certain rights limited
No person may terminate or amend — or claim an accelerated payment or forfeiture of the term under — any agreement, including a security agreement, with a bankrupt individual by reason only of the…
Section 85 — Application to limited partnerships
This Act applies to limited partnerships in like manner as if limited partnerships were ordinary partnerships, and, on all the general partners of a limited partnership becoming bankrupt, the…
Section 86 — Status of Crown claims
In relation to a bankruptcy or proposal, all provable claims, including secured claims, of Her Majesty in right of Canada or a province or of any body under an Act respecting workers’ compensation,…
Section 87 — Statutory Crown securities
A security provided for in federal or provincial legislation for the sole or principal purpose of securing a claim of Her Majesty in right of Canada or of a province or of a workers’ compensation…
Section 88 — Priority
In relation to a bankruptcy or proposal, no order may be made under this Act if the order would have the effect of subordinating financial collateral.
Section 89 and 90
[Repealed, 1992, c. 27, s. 39]
Section 91
[Repealed, 2005, c. 47, s. 71]
Section 92 and 93
[Repealed, 2000, c. 12, s. 12]
Section 94
[Repealed, 2005, c. 47, s. 72]
Section 95 — Preferences
A transfer of property made, a provision of services made, a charge on property made, a payment made, an obligation incurred or a judicial proceeding taken or suffered by an insolvent person in…
Section 96 — Transfer at undervalue
On application by the trustee, a court may declare that a transfer at undervalue is void as against, or, in Quebec, may not be set up against, the trustee — or order that a party to the transfer or…
Section 97 — Protected transactions
No payment, contract, dealing or transaction to, by or with a bankrupt made between the date of the initial bankruptcy event and the date of the bankruptcy is valid, except the following, which are…
Section 98 — Recovering proceeds if transferred
If a person has acquired property of a bankrupt under a transaction that is void or voidable and set aside or, in the Province of Quebec, null or annullable and set aside, and has sold, disposed of,…
Section 98.1 — General assignments of book debts ineffective
If a person engaged in any trade or business makes an assignment of their existing or future book debts, or any class or part of those debts, and subsequently becomes bankrupt, the assignment of book…
Section 99 — Dealings with undischarged bankrupt
All transactions by a bankrupt with any person dealing with the bankrupt in good faith and for value in respect of property acquired by the bankrupt after the bankruptcy, if completed before any…
Section 100
[Repealed, 2005, c. 47, s. 76]
Section 101 — Inquiry into dividends, redemption of shares or compensation
When a corporation that is bankrupt has paid a dividend, other than a stock dividend, redeemed or purchased for cancellation any of the shares of the capital stock of the corporation or has paid…
Section 101.1 — Application of sections 95 to 101
Sections 95 to 101 apply, with any modifications that the circumstances require, to a proposal made under Division I of Part III unless the proposal provides otherwise. For the purposes of subsection…
Section 101.2
[Repealed, 2007, c. 36, s. 44]
Section 102 — First meeting of creditors
Subject to subsection (1.1), it is the duty of the trustee to inquire as to the names and addresses of the creditors of a bankrupt and, within five days after the date of the trustee’s appointment,…
Section 103 — Meetings during administration
The trustee may at any time call a meeting of creditors and he shall do so when directed by the court and whenever requested in writing by a majority of the inspectors or by twenty-five per cent in…
Section 104 — Notice of subsequent meetings
Meetings of creditors other than the first shall be called by sending a notice of the time and place of the meeting together with an agenda outlining the items for discussion with a reasonable…
Section 105 — Chair of first meeting
The official receiver or his nominee shall be the chair at the first meeting of creditors and shall decide any questions or disputes arising at the meeting and from any such decision any creditor may…
Section 106 — Quorum
One creditor entitled to vote, or the representative of such a creditor, constitutes a quorum for a meeting of creditors. Where there is no quorum at the first meeting of creditors, the appointment…