Economic Recovery Act (stimulus) (S.C. 2009, c. 31)
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Assented to 2009-12-15
PART 2MISCELLANEOUS
Amendments Related to the Bankruptcy and Insolvency Act
R.S., c. B-3; 1992, c. 27, s. 2Bankruptcy and Insolvency Act
65. The Act is amended by adding the following after section 87:
Priority of Financial Collateral
Marginal note:Priority
88. 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.
66. Sections 84.1 and 84.2 of the Bankruptcy and Insolvency Act, as enacted by section 64, and section 88 of that Act, as enacted by section 65, apply to proceedings commenced under that Act on or after the day on which this Act receives royal assent.
2007, c. 36Chapter 36 of the Statutes of Canada, 2007
67. Section 25 of chapter 36 of the Statutes of Canada, 2007 is repealed.
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