Bankruptcy and Insolvency Act — B-3 2
ed to in paragraph 50.4(8)(a) or 57(a) or subsection 61(2), or (ii) in which a notice of intention to make a proposal has been filed under section 50.4 or a proposal has been filed under section 62 in respect of the person and the person files an assignment before the court has approved the proposal, (e) the application in respect of which a bankruptcy order is made, in the case of an application other than one referred to in paragraph (d), or (f) proceedings under the Companies’ Creditors Arrangement Act ; ( ouverture de la faillite ) debtor includes an insolvent person and any person who, at the time an act of bankruptcy was committed by him, resided or carried on business in Canada and, where the context requires, includes a bankrupt; ( débiteur ) director in respect of a corporation other than an income trust, means a person occupying the position of director by whatever name called and, in the case of an income trust, a person occupying the position of trustee by whatever name called; ( administrateur ) eligible financial contract means an agreement of a prescribed kind; ( contrat financier admissible ) equity claim means a claim that is in respect of an equity interest, including a claim for, among others, (a) a dividend or similar payment, (b) a return of capital, (c) a redemption or retraction obligation, (d) a monetary loss resulting from the ownership, purchase or sale of an equity interest or from the rescission, or, in Quebec, the annulment, of a purchase or sale of an equity interest, or (e) contribution or indemnity in respect of a claim referred to in any of paragraphs (a) to (d); ( réclamation relative à des capitaux propres ) equity interest means (a) in the case of a corporation other than an income trust, a share in the corporation — or a warrant or option or another right to acquire a share in the corporation — other than one that is derived from a convertible debt, and (b) in the case of an income trust, a unit in the income trust — or a warrant or option or another right to acquire a unit in the income trust — other than one that is derived from a convertible debt; ( intérêt relatif à des capitaux propres ) executing officer includes a sheriff, a bailiff and any officer charged with the execution of a writ or other process under this Act or any other Act or proceeding with respect to any property of a debtor; ( huissier- exécutant ) financial collateral means any of the following that is subject to an interest, or in the Province of Quebec a right, that secures payment or performance of an obligation in respect of an eligible financial contract or that is subject to a title transfer credit support agreement: (a) cash or cash equivalents, including negotiable instruments and demand deposits, (b) securities, a securities account, a securities entitlement or a right to acquire securities, or (c) a futures agreement or a futures account; ( garantie financière ) General Rules means the General Rules referred to in section 209; ( Règles générales ) income trust means a trust that has assets in Canada if (a) its units are listed on a prescribed stock exchange on the date of the initial bankruptcy event, or (b) the majority of its units are held by a trust whose units are listed on a prescribed stock exchange on the date of the initial bankruptcy event; ( fiducie de revenu ) insolvent person means a person who is not bankrupt and who resides, carries on business or has property in Canada, whose liabilities to creditors provable as claims under this Act amount to one thousand dollars, and (a) who is for any reason unable to meet his obligations as they generally become due, (b) who has ceased paying his current obligations in the ordinary course of business as they generally become due, or (c) the aggregate of whose property is not, at a fair valuation, sufficient, or, if disposed of at a fairly conducted sale under legal process, would not be sufficient to enable payment of all his obligations, due and accruing d