Vol. 149, No. 8 — April 22, 2015

Registration

SOR/2015-85 April 1, 2015

BANKRUPTCY AND INSOLVENCY ACT

Regulations Amending the Orderly Payment of Debts Regulations (Miscellaneous Program)

P.C. 2015-409 April 1, 2015

His Excellency the Governor General in Council, on the recommendation of the Minister of Industry, pursuant to section 240 (see footnote a) of the Bankruptcy and Insolvency Act (see footnote b), makes the annexed Regulations Amending the Orderly Payment of Debts Regulations (Miscellaneous Program).

REGULATIONS AMENDING THE ORDERLY PAYMENT OF DEBTS REGULATIONS (MISCELLANEOUS PROGRAM)

AMENDMENTS

1. Subsection 5(1) of the French version of the Orderly Payment of Debts Regulations (see footnote 1) is replaced by the following:

5. (1) L’affidavit produit auprès du greffier par un débiteur en application du paragraphe 219(2) de la Loi constitue une demande d’ordonnance de fusion.

2. Section 8 of the French version of the Regulations is replaced by the following:

8. L’ordonnance de fusion originale doit être produite auprès du greffier de la cour qui la rend et doit porter le numéro de l’affidavit original du débiteur.

3. Subsection 18(1) of the French version of the Regulations is replaced by the following:

18. (1) Lorsqu’un créancier inscrit choisit de faire appel à sa garantie en vertu de l’article 232 de la Loi, il doit, avant de faire appel à sa garantie, produire auprès du greffier un affidavit attestant la valeur de cette garantie et, si la propriété affectée par cette garantie est remise en sa possession et vendue ou saisie et vendue, déclarer au greffier si le produit provenant de la réalisation de la garantie excède le montant de sa réclamation.

4. Form 2 of Schedule I to the French version of the Regulations is amended by replacing “déposé” with “produit”.

COMING INTO FORCE

5. These Regulations come into force on the day on which they are registered.

REGULATORY IMPACT ANALYSIS STATEMENT

(This statement is not part of the Regulations.)

Issues

The Standing Joint Committee for the Scrutiny of Regulations (SJCSR) has advised the Superintendent of Bankruptcy of discrepancies in the French versions of subsections 5(1) and 18(1) of the Orderly Payment of Debts Regulations (the OPDR). These subsections use the term « déposer » as the equivalent of “to file” an affidavit, while elsewhere in the French version of the Regulations, the term « produire » is used as the equivalent of “to file” an affidavit.

The SJCSR has also advised that section 8 of the OPDR should read “produite auprès du greffier de la cour” rather than “produite entre les mains du greffier de la cour” in order to be in line with the terminology in the parent legislation, the Bankruptcy and Insolvency Act, R.S.C., 1985, c. B-3 (the BIA).

Objectives

The amendments have two objectives:

Description

The French version of the OPDR is amended to use the term “produire” as the equivalent of “to file” an affidavit in all instances of the OPDR, including in its schedules.

The amendments also replace “produite entre les mains du greffier de la cour” with “produite auprès du greffier de la cour” in order to be in line with the terminology in the parent legislation, the BIA.

“One-for-One” Rule

The “One-for-One” Rule does not apply to these amendments, as there is no change in administrative costs to business.

Small business lens

The small business lens does not apply to these amendments, as there are no costs to small business.

Rationale

The amendments are in response to the SJCSR’s review of the OPDR. The amendments do not impose any costs on the Government or stakeholders. The amendments help to ensure harmonization, consistency and clarity between the French and English versions of the OPDR, as well as between the French version of the OPDR and the French version of the parent legislation, the BIA.

Contact

Catherine Bussey
Acting Senior Policy Analyst
Office of the Superintendent of Bankruptcy
Industry Canada
155 Queen Street
Ottawa, Ontario
K1A 0H5
Telephone: 613-941-2692
Email: Catherine.Bussey@ic.gc.ca