Quotes From The Bankruptcy and Insolvency Act ("BIA")

Anyone considering bankruptcy as an option to resolve his or her financial difficulties should be aware of certain sections of the Bankruptcy and Insolvency Act. Those sections from the Bankruptcy and Insolvency Act can be accessed by clicking on the appropriate link.

Section 67 - Property of Bankrupt - Assets that a bankrupt is allowed to keep
Link for section 67

Section 158 - Duties of Bankrupt
Link for Section 158

Section 178 - Debts not Released by Order of Discharge – Debts that filing Bankruptcy cannot solve or settle for you
Link for Section 178

Section 198 - Bankruptcy Offenses – Situations where a bankrupt can be fined or sent to jail!
Link for Section 198

Section 199 – Restrictions for bankrupts during the period that they are bankrupt (not discharged)
Link for Section 199

Section 200 – Offence for Previous Bankrupt Failing to Keep Proper Books of Account
Link for Section 200

Section 159 - Directors’ Responsibilities for Corporate Bankrupts
Link for Section 159