Hyperlawhypertext legal database Companies’ Creditors Arrangement Act

← Historical versions

Versions of s. 11.1(3)

C-36 — Companies’ Creditors Arrangement Act · 4 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2019-11-01 to present available View Source
    On application by the company and on notice to the regulatory body and to the persons who are likely to be affected by the order, the court may order that subsection (2) not apply in respect of one or more of the actions, suits or proceedings taken by or before the regulatory body if in the court’s opinion
    Full text

    On application by the company and on notice to the regulatory body and to the persons who are likely to be affected by the order, the court may order that subsection (2) not apply in respect of one or more of the actions, suits or proceedings taken by or before the regulatory body if in the court’s opinion

  2. 2009-09-18 to present View Source
    TheOn followingapplication actionsby the company and on notice to the regulatory body and to the persons who are permittedlikely to be affected by the order, the court may order that subsection (2) not apply in respect of anone eligibleor financial contract that is entered into before proceedings under this Act are commenced in respectmore of the companyactions, and is terminated onsuits or afterproceedings thattaken day,by butor onlybefore the regulatory body if in accordance with the provisionscourt’s of that contract:opinion
    Full text

    On application by the company and on notice to the regulatory body and to the persons who are likely to be affected by the order, the court may order that subsection (2) not apply in respect of one or more of the actions, suits or proceedings taken by or before the regulatory body if in the court’s opinion

  3. 2007-06-22 to 2009-09-18 View Source
    ForThe greaterfollowing certainty,actions whereare permitted in respect of an eligible financial contract that is entered into before an order is madeproceedings under sectionthis 11Act are commenced in respect of the company and is terminated on or after thethat dateday, ofbut the order, the setting off of obligations between the company and the other parties to the eligible financial contract, in accordance with its provisions, is permitted, and if net termination values determinedonly in accordance with the eligibleprovisions financial contract are owed by the company to another party to the eligible financial contract,of that other party shall be deemed to be a creditor of the company with a claim against the company in respect of the net termination values.contract:
    Full text

    The following actions are permitted in respect of an eligible financial contract that is entered into before proceedings under this Act are commenced in respect of the company and is terminated on or after that day, but only in accordance with the provisions of that contract:

  4. 2002-12-31 to 2007-06-22 View Source

    For greater certainty, where an eligible financial contract entered into before an order is made under section 11 is terminated on or after the date of the order, the setting off of obligations between the company and the other parties to the eligible financial contract, in accordance with its provisions, is permitted, and if net termination values determined in accordance with the eligible financial contract are owed by the company to another party to the eligible financial contract, that other party shall be deemed to be a creditor of the company with a claim against the company in respect of the net termination values.