Bill C-55: clause by clause analysis

An Act to establish the Wage Earner Protection Program Act, to amend the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act and to make consequential amendments to other Acts

Wage Earner Protection Program Act (WEPP)

Table of Contents - Wage Earner Protection Program Act (WEPP)

Wage Earner Protection Program Act (WEPP)	Clauses of Bill C-55	Sections of WEPP
Title and Definition	1	1 - 4
Eligibility for payments	1	5 - 6
Amounts covered	1	7
Application for payments	1	8 - 10
Review and Appeal	1	11 - 20
Role of trustees / receivers	1	21 - 22
Powers of the Minister	1	23 - 26
Powers of the Minister	1	27 - 34
Financial provisions	1	35 - 37
Offences and penalties	1	38 - 40
Regulations and review	1	41 - 42

Bankruptcy and Insolvency Act (BIA)

Table of Contents - Bankruptcy and Insolvency Act (BIA)

Amendments to the Bankruptcy and Insolvency Act (BIA)	Clauses of Bill C-55	Sections of BIA
Definitions	2 - 5
Supervisory role of OSB and role of trustees	6 - 15
Supervisory role of OSB and role of trustees	16 - 29
Interim receivers	30 - 33	47 - 47.2
Business Proposals	34 - 37
Interim financing	36	50.6
Business Proposals	38 - 41
Business Proposals	42 - 45
Governance	42	64 - 64.2
Disclaimer of contracts	44	65.11
Treatment of collective agreements	44	65.12
Sales of assets	44	65.13
Consumer Proposals	46-52
Threshold	46	66.11
Annulment and revival	52	66.31
Consumer Proposals	53-56
Consumer Bankruptcy	57-58
RRSP Exemption	57	67(1)
Surplus income	58	68
Technical changes	59 - 65
Unpaid suppliers	66	81.1
Priority for unpaid wages and pension contributions	67	81.3 - 81.5
Treatment of contracts	68	84.1 - 84.2
Crown Priorities	69 - 70
Preferences and transfers at undervalue	71 - 76	96 - 96.1
Administration of estates	77-87
Administration of estates	88-95
Priorities of distribution	88	136(1)
Equity claims	90	140.1
Agreement to pay trustee's fees	95	156.1
Discharge of bankrupts	96-103
Automatic discharge of first and second time bankrupts	100	168.1-168.2
Discharge of bankrupts	104-114
Condition of discharge	104	172
Bankrupts with High Income Tax Debt	105	172.1
Student Loans	107	178(1)-178(1.1)
Appointment of receivers	115-121	243-244
Technical changes	119-121
International insolvency / UNCITRAL	122	268 - 284
Review of the Act	122-123	285

Companies' Creditors Arrangement Act (CCAA)

Table of Contents - Companies' Creditors Arrangement Act (CCAA)

Amendments to the Companies' Creditors Arrangement Act (CCAA)	Clauses of Bill C-55	Sections of CCAA
Definition and scope of application	124 - 125	2 - 3
Treatment of tax, wages and pension claims	126	6
Initial application	127-128
Regulatory body		11.1
Interim financing		11.2
Assignment of contracts		11.3
Critical supplier		11.4
Governance		11.5 - 11.51, 11.52
Appointment of monitors	129	11.7
Claims	130 - 131
Claims amounts	131	20
Classes of creditors/equity claims	131	22
Duties of the Monitor	131	23 - 31
Supervision of OSB	131	26 - 31
Disclaimer of contracts	131	32
Collective Agreements	131	33
Ipso facto clauses	131	34 - 35
Sales of Assets	131	36
Crown Priorities	131	37 - 43
International insolvencies / UNCITRAL	131	44 - 50
International insolvencies / UNCITRAL	131	51 - 62
Review of the Act	131	63
Transitional Provisions	132 - 135

Consequential Amendments to Other Acts and coordinating Amendments Clauses of Bill C-55: 136-140

Coming into force Clauses of Bill: 141