Bill C-288: An Act to amend the Companies’ Creditors Arrangement Act

Bill C-288 If you have any questions or comments regarding the accessibility of this publication, please contact us at [email protected]. First Reading LEGISinfo Bilingual view XML PDF Skip to Document Navigation Skip to Document Content ENGLISHSUMMARYSUMMARY1 Companies’ Creditors Arrangement Act1 Companies’ Creditors Arrangement Act Second Session, Forty-third Parliament, 69-70 Elizabeth II, 2020-2021 HOUSE OF COMMONS OF CANADA BILL C-288 An Act to amend the Companies’ Creditors Arrangement Act FIRST READING, April 19, 2021 Mr. Lefebvre 432107 SUMMARY This enactment amends the Companies’ Creditors Arrangement Act to exclude postsecondary educational institutions from the Act. Available on the House of Commons website at the following address: www.ourcommons.ca 2nd Session, 43rd Parliament, 69-70 Elizabeth II, 2020-2021 HOUSE OF COMMONS OF CANADA BILL C-288 An Act to amend the Companies’ Creditors Arrangement Act Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: R.‍S.‍, c. C-36 Companies’ Creditors Arrangement Act 1 The definition company in section 2 of the Companies’ Creditors Arrangement Act is replaced by the following: company means any company, corporation or legal person incorporated by or under an Act of Parliament or of the legislature of a province, any incorporated company having assets or doing business in Canada, wherever incorporated, and any income trust, but does not include (a) postsecondary educational institutions that receive from a government or a municipality funds that are paid for the purpose of assisting them in the ongoing provision of educational services to the general public, (b) banks and authorized foreign banks within the meaning of section 2 of the Bank Act, (c) telegraph companies, (d) insurance companies, and (e) companies to which the Trust and Loan Companies Act applies; (compagnie) Published under authority of the Speaker of the House of Commons Publication Explorer Publication Explorer ParlVU