Companies’ Creditors Arrangement Act — C-36 2
rived from a convertible debt; ( intérêt relatif à des capitaux propres ) 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 ) income trust means a trust that has assets in Canada if (a) its units are listed on a prescribed stock exchange on the day on which proceedings commence under this Act, or (b) the majority of its units are held by a trust whose units are listed on a prescribed stock exchange on the day on which proceedings commence under this Act; ( fiducie de revenu ) initial application means the first application made under this Act in respect of a company; ( demande initiale ) monitor , in respect of a company, means the person appointed under section 11.7 to monitor the business and financial affairs of the company; ( contrôleur ) net termination value means the net amount obtained after netting or setting off or compensating the mutual obligations between the parties to an eligible financial contract in accordance with its provisions; ( valeurs nettes dues à la date de résiliation ) prescribed means prescribed by regulation; ( Version anglaise seulement ) secured creditor means a holder of a mortgage, hypothec, pledge, charge, lien or privilege on or against, or any assignment, cession or transfer of, all or any property of a debtor company as security for indebtedness of the debtor company, or a holder of any bond of a debtor company secured by a mortgage, hypothec, pledge, charge, lien or privilege on or against, or any assignment, cession or transfer of, or a trust in respect of, all or any property of the debtor company, whether the holder or beneficiary is resident or domiciled within or outside Canada, and a trustee under any trust deed or other instrument securing any of those bonds shall be deemed to be a secured creditor for all purposes of this Act except for the purpose of voting at a creditors’ meeting in respect of any of those bonds; ( créancier garanti ) shareholder includes a member of a company — and, in the case of an income trust, a holder of a unit in an income trust — to which this Act applies; ( actionnaire ) Superintendent of Bankruptcy means the Superintendent of Bankruptcy appointed under subsection 5(1) of the Bankruptcy and Insolvency Act ; ( surintendant des faillites ) Superintendent of Financial Institutions means the Superintendent of Financial Institutions appointed under subsection 5(1) of the Office of the Superintendent of Financial Institutions Act ; ( surintendant des institutions financières ) title transfer credit support agreement means an agreement under which a debtor company has provided title to property for the purpose of securing the payment or performance of an obligation of the debtor company in respect of an eligible financial contract; ( accord de transfert de titres pour obtention de crédit ) unsecured creditor means any creditor of a company who is not a secured creditor, whether resident or domiciled within or outside Canada, and a trustee for the holders of any unsecured bonds issued under a trust deed or other instrument running in favour of the trustee shall be deemed to be an unsecured creditor for all purposes of this Act except for the purpose of voting at a creditors’ meeting in respect of any of those bonds. ( créancier chirographaire ) Meaning of related and dealing at arm’s length (2) For the purpose of this Act, section 4 of the Bankruptcy and Insolvency Act applies for the purpose of determining whether a person is related to or dealing at arm’s length with a debtor company. R