Bill S-30
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1st Session, 38th Parliament,
53-54 Elizabeth II, 2004-2005
senate of canada
BILL S-30
An Act to amend the Bankruptcy and Insolvency Act (RRSP and RESP)
R.S., c. B-3; 1992, c. 27, s. 2
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
1. (1) Subsection 67(1) of the Bankruptcy and Insolvency Act is amended by adding the following after paragraph (a):
(a.1) property held by the bankrupt in a retirement savings plan or an education savings plan registered under the Income Tax Act, other than any amount contributed to the plan within the period beginning on the day that is one year before the date of the initial bankruptcy event and ending on the date of the bankruptcy, both dates included,
Application
(2) Subsection (1) applies to bankruptcies in respect of which proceedings are commenced after that subsection comes into force.
Published under authority of the Senate of Canada
Explanatory Notes
Bankruptcy and Insolvency Act
Clause 1: (1) Relevant portion of subsection 67(1):
67. (1) The property of a bankrupt divisible among his creditors shall not comprise
. . .
but it shall comprise