GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Winding-up and Restructuring Act — W-11 161
tion insurance and other approved products insurance, (i) in the case of the costs of liquidation and the claims of preferred creditors, the costs, portions of expenses and claims shall be paid from the assets in Canada, maintained for the policies referred to in subparagraphs (ii) and (iii), together with the assets under the control of the chief agent, in the proportion that the court considers fair and equitable, (ii) in the case of policies falling within the classes of life insurance, accident and sickness insurance, credit protection insurance and other approved products insurance, claims shall be paid (A) firstly, from the assets in Canada maintained for those policies, (B) secondly, from the assets under the control of the chief agent in such proportion as the court considers fair and equitable, and (C) thirdly, from the balance, if any, of any assets referred to in clauses (iii)(A) and (B) remaining after the claims under subparagraphs (i) and (iii) are paid, (iii) in the case of policies falling within some other class of insurance, claims shall be paid (A) firstly, from the assets in Canada maintained for those policies, (B) secondly, from the assets under the control of the chief agent in such proportion as the court considers fair and equitable, and (C) thirdly, from the balance, if any, of any assets referred to in clauses (ii)(A) and (B) remaining after the claims under subparagraphs (i) and (ii) are paid, and (iv) in the case of expenses described in paragraph 686(1)(a) of the Insurance Companies Act that were incurred by the Superintendent in respect of the foreign company and assessed against and paid by other companies pursuant to that Act, the expenses shall be paid from the balance, if any, of the assets referred to in clauses (ii)(A) and (B) and (iii)(A) and (B) remaining after the claims under subparagraphs (i), (ii) and (iii) are paid. Priority of costs, etc. (9) For greater certainty, the costs, claims and expenses referred to in subsections (6) and (8) shall be paid in accordance with the priorities set out in subsection (1). Release of balance of assets to company (10) The liquidator may, with the approval of the court, release to the foreign company any balance of the assets remaining after payment of claims in the order of priority prescribed by subsection (9). Payment of liabilities (11) Notwithstanding anything in this section, the liquidator may, in carrying on the business of the company pursuant to paragraph 35(1)(b), with the approval of the court, pay liabilities relating to the portion of the business being carried on, where the payment is considered desirable for the retention of goodwill and enhancement of value to the estate of the company. R.S., 1985, c. W-11, s. 161; R.S., 1985, c. 18 (3rd Supp.), s. 44, c. 21 (3rd Supp.), s. 55; 1991, c. 47, s. 749; 1996, c. 6, s. 161; 1997, c. 15, s. 411; 2007, c. 6, s. 445; 2012, c. 5, s. 210
Winding-up and Restructuring Act — W-11
assets in Canada means assets in Canada, within the meaning of subsection 2(1) of the Insurance Companies Act , of a foreign company; ( actif au Canada )
Winding-up and Restructuring Act — W-11
assets under the control of the chief agent means the other assets of the foreign company that are held in Canada under the control of its chief agent, within the meaning of section 571 of the Insurance Companies Act , including all amounts received or receivable in respect of its insurance business in Canada. ( actif sous le contrôle de l’agent principal )
Winding-up and Restructuring Act — W-11 162
Transfer and reinsurance of policies by liquidator 162 (1) The liquidator may, with the approval of the court and without the consent of the policyholders, arrange for the transfer or reinsurance of (a) all or a portion of the policies of the company, in the case of a company other than a foreign company, or (b) all or a portion of the policies in respect of a foreign company’s insurance business in Canada in a company, society, foreign company or provincial company within the meaning of subsection 2(1) of the Insurance Companies Act or an insurance company incorporated by or under an Act of a legislature of a province and authorized under the laws of the province to issue policies of the class being transferred or reinsured, if the terms of the transfer or reinsurance are, in the opinion of the court having regard to the priorities set out in this Part, fair and equitable to (c) the policyholders whose policies are being transferred or reinsured, (d) the estate of the company as a whole, and (e) the remaining policyholders of the company. Transfer and reinsurance of policies by liquidator (2) The liquidator may, with the approval of the court and without the consent of the policyholders, arrange for the transfer or reinsurance of all or a portion of the policies of the company, other than policies in respect of its insurance business in Canada, in any body corporate if the terms of the transfer or reinsurance are, in the opinion of the court, having regard to the priorities set out in this Part, fair and equitable to (a) the policyholders whose policies are being transferred or reinsured; (b) the estate of the company as a whole; and (c) the remaining policyholders of the company. Transfer or reinsurance is in lieu of claim on policy (3) The transfer or reinsurance of policies referred to in subsections (1) and (2) shall be in lieu of the claim for the value of those policies computed as provided in section 163. Mortgage insurance policies (4) The liquidator of a company, society or foreign company within the meaning of subsection 2(1) of the Insurance Companies Act may, with the approval of the court and the consent of the Canada Mortgage and Housing Corporation, and without the consent of the policyholders, arrange for the transfer to that corporation of all or a portion of the company’s, society’s or foreign company’s policies of mortgage insurance, or arrange for the reinsurance of all or a portion of those policies by that corporation. R.S., 1985, c. W-11, s. 162; 1991, c. 47, s. 750; 1996, c. 6, s. 161; 2007, c. 6, s. 446
Winding-up and Restructuring Act — W-11 162.1
Partial payment or reinsurance 162.1 Where the liquidator estimates that the assets of the company are insufficient to provide for the payment in full of the preferred claims specified in section 72, for the payment in full of claims referred to in subparagraphs 161(1)(c)(i) or (ii) and for the transfer or reinsurance in full of policies of the company, the claims referred to in subparagraphs 161(1)(c)(i) or (ii) may be paid at, and the transfer or reinsurance may be effected at, such percentage of the full amount of the policies as may be approved by the court. 1996, c. 6, s. 161
Winding-up and Restructuring Act — W-11 162.2
Modification of policies 162.2 The court may, on the application of the liquidator, without the consent of the policyholders concerned but on such notice to them as the court considers appropriate, modify the terms of all or any of the policies of insurance of the company held by those policyholders if the court is satisfied that the modification will have no adverse material impact on the policyholders under the terms of the policies. 1996, c. 6, s. 161
Winding-up and Restructuring Act — W-11 163
Computation of claims 163 (1) Claims of policyholders of the company to the value of their policies referred to in subparagraphs 161(1)(c)(i) or (ii) shall be computed by the liquidator in accordance with such methods of computation as the Superintendent may deem fair and reasonable, less any amount previously advanced by the company on the security of the policies. Amendment thereof (2) The methods of computation established by the Superintendent are binding on all concerned, subject only to modification by the Superintendent. R.S., 1985, c. W-11, s. 163; R.S., 1985, c. 18 (3rd Supp.), s. 45; 1996, c. 6, s. 161
Winding-up and Restructuring Act — W-11 164
Transfer of assets to the liquidator 164 (1) The assets of the company in Canada that may be on deposit with any government in Canada or with trustees or otherwise held for the company or for the protection of the policyholders of the company of the class or classes that are affected by the winding-up order shall, on order of the court having jurisdiction, be transferred to the liquidator. Assets on deposit outside Canada (2) If the company is a Canadian company that has deposited with the government of any state or country outside Canada, or with any trustee or other person in that state or country, any of its assets for the protection of the company’s policyholders in that state or country, the liquidator may request that government, trustee or other person to transfer those assets to the liquidator and on the transfer being made, those assets shall be used for the benefit of all the company’s policyholders in the same manner as any other assets of the company. Consequence of non-transfer of assets (3) If a government, trustee or other person referred to in subsection (2) does not transfer the assets deposited with it within the period commencing with the date of the liquidator’s request for the transfer of those assets that the Court may fix, the policyholders of the company, for whose protection the deposit was made, are deemed to have refused the reinsurance, if any, arranged by the liquidator, and, whether transfer or reinsurance has been arranged or not, to have forfeited all right and claim to any share of the assets of the company other than the assets so deposited for their protection outside Canada. R.S., 1985, c. W-11, s. 164; 1996, c. 6, s. 161; 2012, c. 5, s. 211
Winding-up and Restructuring Act — W-11 165
Transfer to foreign liquidator 165 If a foreign company is in liquidation in the country in which its head office is situated, the Superintendent may, if the Superintendent considers it advisable and in the interests of policyholders in respect of the foreign company’s insurance business in Canada, authorize the liquidator, subject to the approval of the court, to transfer the assets of the foreign company to the liquidator in that country. R.S., 1985, c. W-11, s. 165; 1991, c. 47, s. 751; 1996, c. 6, s. 161; 2007, c. 6, s. 447
Winding-up and Restructuring Act — W-11 166
Liquidator to prepare statement of claimants and creditors 166 (1) The liquidator shall, without the filing of any claim, notice or evidence or the taking of any action by any person, prepare a statement of all the persons appearing by the books and records of the company to be creditors of the company or to be claimants under any policy including any matured, valued or cancelled policy, taking cognizance in that connection of all claims that have arisen in accordance with the terms of the policies of which the liquidator has notice. Collocation (2) The statement referred to in subsection (1) shall show the amount, determined as provided in section 161 in respect of policyholders, for which each person is to rank as a claimant or a creditor and every such person shall be collocated and ranked as, and is entitled to the right of, a claimant or a creditor for the amount so ascertained by the liquidator, without filing any claim, notice or evidence, or taking any action. Objections (3) Any collocation made pursuant to subsection (2) may be contested by any person interested, and any person who is not collocated, or who is dissatisfied with the amount for which the person is collocated, may file a claim. Amendment of statement (4) The liquidator or the court may rectify any statement prepared under subsection (1) on account of omissions or errors therein notified to the liquidator or discovered by the liquidator at any time before the completion of the liquidation, and only the claims appearing in the statement or amended statement shall be regarded in the distribution of the assets. R.S., 1985, c. W-11, s. 166; 1996, c. 6, s. 161
Winding-up and Restructuring Act — W-11 167
Right of action not debarred 167 Where the assets are not sufficient to cover in full all claims appearing in the statement or amended statement described in section 166, the policyholders are not barred from any recourse they have, either in law or equity, against the company issuing the policy or against any shareholder or director thereof, except in respect of the share, if any, received in the distribution of those assets. R.S., 1985, c. W-11, s. 167; 1996, c. 6, s. 161
Winding-up and Restructuring Act — W-11 168
Copy of statement filed in Office of the Superintendent 168 (1) A copy of the statement referred to in subsection 166(1), certified by the liquidator, shall be filed in the Office of the Superintendent, after not less than 30 days’ notice of the liquidator’s intention to do so has been given by the liquidator by notice in the Canada Gazette and in the official gazette of each province, and in two newspapers published at or nearest the place where the head office of the company or the chief agency of the company, as the case may be, is situated. When policyholder to rank as creditor (2) Any claim that has arisen under the terms of a policy of which notice is received by the liquidator after the date of the filing of a statement referred to in subsection 166(1) or an amended statement referred to in subsection 166(4) shall rank on the assets only for the value entered in the statement, unless the assets are sufficient to pay all claimants in full, and in that case the policyholder shall rank as a creditor for the balance of the policyholder’s claim. R.S., 1985, c. W-11, s. 168; R.S., 1985, c. 18 (3rd Supp.), s. 46; 1996, c. 6, s. 161; 2007, c. 6, s. 448; 2015, c. 3, s. 171(F)
Winding-up and Restructuring Act — W-11 169
Notice of filing 169 The liquidator shall send by prepaid mail a notice of the filing of the statement under subsection 168(1) to each claimant or creditor named in the statement, addressed to the latest address on record with the company, stating therein the amount for which the creditor or claimant is entitled to rank against the assets of the company. R.S., 1985, c. W-11, s. 169; 1996, c. 6, s. 161
Winding-up and Restructuring Act — W-11 170
Report to Superintendent 170 Where the company is a company, society, foreign company or provincial company within the meaning of subsection 2(1) of the Insurance Companies Act , the liquidator shall report to the Superintendent once in every six months, or more often, as the Superintendent may require, on the condition of the affairs of the company, with such particulars as the Superintendent may require. R.S., 1985, c. W-11, s. 170; 1991, c. 47, s. 752; 1996, c. 6, s. 161
Winding-up and Restructuring Act — W-11 171
Publication of notice of proceedings 171 Publication in the Canada Gazette , in the official gazette of each province and in two newspapers published at or nearest the place where the head office of the company or chief agency of the company, as the case may be, is situated, of notice of any proceedings of which, under this Act, creditors should be notified, is sufficient notice to holders of policies in respect of which no notice of claim has been received. R.S., 1985, c. W-11, s. 171; 1996, c. 6, s. 161; 2007, c. 6, s. 449
Winding-up and Restructuring Act — W-11 172
Priority of certain claims 172 Nothing in this Part prejudices or affects the priority of any mortgage, lien or charge on the property of the company. R.S., 1985, c. W-11, s. 172; 1996, c. 6, s. 161
Winding-up and Restructuring Act — W-11 11
Transitional: proceedings 11 Proceedings to which any of the provisions amended by the schedule apply that were commenced before the coming into force of section 10 shall be continued in accordance with those amended provisions without any further formality.
Winding-up and Restructuring Act — W-11 Application
Application (2) Subparagraph 161(1)(c)(i) of the said Act, as enacted by subsection (1), shall apply only in respect of the winding-up of the business of a company that commences on or after the day that subparagraph comes into force.
Winding-up and Restructuring Act — W-11 45
Transitional: proceedings 45 (1) Every proceeding commenced before the coming into force of this subsection and in respect of which any provision amended by this Act applies shall be taken up and continued under and in conformity with that amended provision without any further formality.
Winding-up and Restructuring Act — W-11 10
Transitional — proceedings 10 Every proceeding commenced before the coming into force of this section and in respect of which any provision amended by sections 12 to 16 applies shall be taken up and continued under and in conformity with that amended provision without any further formality.
Winding-up and Restructuring Act — W-11 121
Winding Up and Restructuring Act 121 An amendment to the Winding-up and Restructuring Act made by any of sections 113 to 116 of this Act applies only to companies in respect of which winding up proceedings under that Act are commenced on or after the day on which the amendment comes into force.
Winding-up and Restructuring Act — W-11 297
Continuance — Part II of Canada Corporations Act 297 (1) A body corporate to which Part II of the Canada Corporations Act , chapter C-32 of the Revised Statutes of Canada, 1970 (in this section and section 298 referred to as the “ Canada Corporations Act ”), applies, other than a body corporate that is subject to a winding-up order made under the Winding-up and Restructuring Act before this subsection comes into force, shall apply for a certificate of continuance under section 211 .
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3 1
Short title 1 This Act may be cited as the Wrecked, Abandoned or Hazardous Vessels Act .
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3 2
Definitions 2 The following definitions apply in this Act. authorized representative has the same meaning as in section 2 of the Canada Shipping Act, 2001 . ( représentant autorisé ) Canadian vessel , except in Part 1, means a vessel that is not registered, listed, recorded or licensed in a foreign state. ( bâtiment canadien ) master has the same meaning as in section 2 of the Canada Shipping Act, 2001 . ( capitaine ) Minister means, subject to section 89 , the Minister of Transport. ( ministre ) owner , except in Part 1, means, in relation to a vessel, a person that (a) is a registered owner of the vessel; (b) is a holder of a pleasure craft licence; or (c) has, either by law or by contract, the rights of an owner of the vessel in respect of its possession and use. ( propriétaire ) person includes a partnership, an unincorporated organization, an association and a trust. ( personne ) person in charge means, in relation to a vessel or a wreck, the owner, master or authorized representative of the vessel, and any person that is or appears to be in command, control or charge of the vessel or that has management of the vessel, but does not include a licensed pilot , as defined in section 1.1 of the Pilotage Act , while the pilot is exercising their powers or performing their duties or functions under that Act. ( responsable ) pleasure craft has the same meaning as in section 2 of the Canada Shipping Act, 2001 . ( embarcation de plaisance ) prescribed means prescribed by the regulations.‍ ( Version anglaise seulement ) Transportation Appeal Tribunal means the Transportation Appeal Tribunal of Canada established by subsection 2(1) of the Transportation Appeal Tribunal of Canada Act .‍ ( Tribunal d’appel des transports ) vessel , except in Part 1, means any boat, ship or craft of any kind designed, used or capable of being used solely or partly for navigation in, on, through or immediately above water, without regard to method or lack of propulsion or to whether it is under construction or being re-purposed or dismantled. It also includes a floating object that is designated to be a vessel by the regulations. ( bâtiment ) Wreck Removal Convention means the Nairobi International Convention on the Removal of Wrecks, 2007, signed at Nairobi on May 18, 2007 and set out in Schedule 1. ( Convention sur l’enlèvement des épaves )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
authorized representative has the same meaning as in section 2 of the Canada Shipping Act, 2001 . ( représentant autorisé )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
Canadian vessel , except in Part 1, means a vessel that is not registered, listed, recorded or licensed in a foreign state. ( bâtiment canadien )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
master has the same meaning as in section 2 of the Canada Shipping Act, 2001 . ( capitaine )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
Minister means, subject to section 89 , the Minister of Transport. ( ministre )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3 (a)
owner , except in Part 1, means, in relation to a vessel, a person that (a) is a registered owner of the vessel; (b) is a holder of a pleasure craft licence; or (c) has, either by law or by contract, the rights of an owner of the vessel in respect of its possession and use. ( propriétaire )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
person includes a partnership, an unincorporated organization, an association and a trust. ( personne )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
person in charge means, in relation to a vessel or a wreck, the owner, master or authorized representative of the vessel, and any person that is or appears to be in command, control or charge of the vessel or that has management of the vessel, but does not include a licensed pilot , as defined in section 1.1 of the Pilotage Act , while the pilot is exercising their powers or performing their duties or functions under that Act. ( responsable )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
pleasure craft has the same meaning as in section 2 of the Canada Shipping Act, 2001 . ( embarcation de plaisance )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
prescribed means prescribed by the regulations.‍ ( Version anglaise seulement )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
Transportation Appeal Tribunal means the Transportation Appeal Tribunal of Canada established by subsection 2(1) of the Transportation Appeal Tribunal of Canada Act .‍ ( Tribunal d’appel des transports )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
vessel , except in Part 1, means any boat, ship or craft of any kind designed, used or capable of being used solely or partly for navigation in, on, through or immediately above water, without regard to method or lack of propulsion or to whether it is under construction or being re-purposed or dismantled. It also includes a floating object that is designated to be a vessel by the regulations. ( bâtiment )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3
Wreck Removal Convention means the Nairobi International Convention on the Removal of Wrecks, 2007, signed at Nairobi on May 18, 2007 and set out in Schedule 1. ( Convention sur l’enlèvement des épaves )
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3 3
Binding on Her Majesty 3 This Act is binding on Her Majesty in right of Canada or a province.
Wrecked, Abandoned or Hazardous Vessels Act — W-12.3 4
Purpose of Act 4 The purpose of this Act is to promote the protection of the public, of the environment, including coastlines and shorelines, and of infrastructure by, among other things, regulating wrecks and vessels posing hazards, prohibiting vessel abandonment, and recognizing the responsibility and liability of owners for their vessels.