1 This Act may be cited as the Bankruptcy and Insolvency Act .
Marginal note: Definitions
2 In this Act,
includes statutory declaration and solemn affirmation; ( affidavit )
[Repealed, 2012, c. 31, s. 414]
, with respect to a bankruptcy application filed in a court in the Province of Quebec, means a motion; ( Version anglaise seulement )
means an assignment filed with the official receiver; ( cession )
means a person who has made an assignment or against whom a bankruptcy order has been made or the legal status of that person; ( failli )
means the state of being bankrupt or the fact of becoming bankrupt; ( faillite )
means any trade union that has entered into a collective agreement on behalf of the employees of a person; ( agent négociateur )
[Repealed, 2000, c. 12, s. 8]
, or includes any claim or liability provable in proceedings under this Act by a creditor; ( réclamation prouvable en matière de faillite ou réclamation prouvable )
, in relation to an insolvent person, means a collective agreement within the meaning of the jurisdiction governing collective bargaining between the insolvent person and a bargaining agent; ( convention collective )
, in relation to an individual, means a person who is cohabiting with the individual in a conjugal relationship, having so cohabited for a period of at least one year; ( conjoint de fait )
means the relationship between two persons who are common-law partners of each other; ( union de fait )
means a company or legal person that is incorporated by or under an Act of Parliament or of the legislature of a province, an incorporated company, wherever incorporated, that is authorized to carry on business in Canada or has an office or property in Canada or an income trust, but does not include banks, authorized foreign banks within the meaning of section 2 of the Bank Act , insurance companies, trust companies or loan companies; ( personne morale )
, except in paragraphs 178(1)(a) and (a.1) and sections 204.1 to 204.3, means a court referred to in subsection 183(1) or (1.1) or a judge of that court, and includes a registrar when exercising the powers of the court conferred on a registrar under this Act; ( tribunal )
means a person having a claim provable as a claim under this Act; ( créancier )
means cash, cash equivalents — including negotiable instruments and demand deposits — inventory or accounts receivable, or the proceeds from any dealing with those assets; ( actif à court terme )
, in respect of a person, means the date of
, in respect of a person, means the earliest of the day on which any one of the following is made, filed or commenced, as the case may be:
includes an insolvent person and any person who, at the time an act of bankruptcy was committed by him, resided or carried on business in Canada and, where the context requires, includes a bankrupt; ( débiteur )
in respect of a corporation other than an income trust, means a person occupying the position of director by whatever name called and, in the case of an income trust, a person occupying the position of trustee by whatever name called; ( administrateur )
means an agreement of a prescribed kind; ( contrat financier admissible )
means a claim that is in respect of an equity interest, including a claim for, among others,
includes a sheriff, a bailiff and any officer charged with the execution of a writ or other process under this Act or any other Act or proceeding with respect to any property of a debtor; ( huissier- exécutant )
means any of the following that is subject to an interest, or in the Province of Quebec a right, that secures payment or performance of an obligation in respect of an eligible financial contract or that is subject to a title transfer credit support agreement:
means the General Rules referred to in section 209; ( Règles générales )
means a trust that has assets in Canada if
means a person who is not bankrupt and who resides, carries on business or has property in Canada, whose liabilities to creditors provable as claims under this Act amount to one thousand dollars, and
means any person qualified, in accordance with the laws of a province, to give legal advice; ( conseiller juridique )
means the principal place
means the Minister of Industry; ( ministre )
means the net amount obtained after netting or setting off or compensating the mutual obligations between the parties to an eligible financial contract in accordance with its provisions; ( valeurs nettes dues à la date de résiliation )
means an officer appointed under subsection 12(2); ( séquestre officiel )
includes a partnership, an unincorporated association, a corporation, a cooperative society or a cooperative organization, the successors of a partnership, of an association, of a corporation, of a society or of an organization and the heirs, executors, liquidators of the succession, administrators or other legal representatives of a person; ( personne )
means any type of property, whether situated in Canada or elsewhere, and includes money, goods, things in action, land and every description of property, whether real or personal, legal or equitable, as well as obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, in, arising out of or incident to property; ( bien )
and includes a proposal or consumer proposal, as the case may be, for a composition, for an extension of time or for a scheme or arrangement; ( proposition concordataire ou proposition )
includes a person or body who supplies fuel, water or electricity, or supplies telecommunications, garbage collection, pollution control or postal services; ( entreprise de service public )
or means a resolution carried in the manner provided by section 115; ( résolution ou résolution ordinaire )
means a person holding a mortgage, hypothec, pledge, charge or lien on or against the property of the debtor or any part of that property as security for a debt due or accruing due to the person from the debtor, or a person whose claim is based on, or secured by, a negotiable instrument held as collateral security and on which the debtor is only indirectly or secondarily liable, and includes
if the exercise of the person’s rights is subject to the provisions of Book Six of the Civil Code of Québec entitled Prior Claims and Hypothecs that deal with the exercise of hypothecary rights; ( créancier garanti )
[Repealed, 2005, c. 47, s. 2]
includes a member of a corporation — and, in the case of an income trust, a holder of a unit in an income trust — to which this Act applies; ( actionnaire )
[Repealed, 2004, c. 25, s. 7]
means a resolution decided by a majority in number and three-fourths in value of the creditors with proven claims present, personally or by proxy, at a meeting of creditors and voting on the resolution; ( résolution spéciale )
means the Superintendent of Bankruptcy appointed under subsection 5(1); ( surintendant )
means the Superintendent of Financial Institutions appointed under subsection 5(1) of the Office of the Superintendent of Financial Institutions Act ; ( surintendant des institutions financières )
, in respect of a person, means the time of
means an agreement under which an insolvent person or a bankrupt has provided title to property for the purpose of securing the payment or performance of an obligation of the insolvent person or bankrupt in respect of an eligible financial contract; ( accord de transfert de titres pour obtention de crédit )
means a disposition of property or provision of services for which no consideration is received by the debtor or for which the consideration received by the debtor is conspicuously less than the fair market value of the consideration given by the debtor; ( opération sous-évaluée )
or means a person who is licensed or appointed under this Act. ( syndic ou syndic autorisé )