Excise Tax Act — E-15 266
Definitions 266 (1) In this section, business includes a part of a business; ( entreprise ) receiver means a person who (a) under the authority of a debenture, bond or other debt security, of a court order or of an Act of Parliament or of the legislature of a province, is empowered to operate or manage a business or a property of another person, (b) is appointed by a trustee under a trust deed in respect of a debt security to exercise the authority of the trustee to manage or operate a business or a property of the debtor under the debt security, (c) is appointed by a bank to act as agent of the bank in the exercise of the authority of the bank under subsection 426(3) of the Bank Act in respect of property of another person, (d) is appointed as a liquidator to liquidate the assets of a corporation or to wind up the affairs of a corporation, or (e) is appointed as a committee, guardian or curator with authority to manage and care for the affairs and assets of an individual who is incapable of managing those affairs and assets, and includes a person who is appointed to exercise the authority of a creditor under a debenture, bond or other debt security to operate or manage a business or a property of another person but, where a person is appointed to exercise the authority of a creditor under a debenture, bond or other debt security to operate or manage a business or a property of another person, does not include that creditor; ( séquestre ) relevant assets of a receiver means (a) where the receiver’s authority relates to all the properties, businesses, affairs and assets of a person, all those properties, businesses, affairs and assets, and (b) where the receiver’s authority relates to only part of the properties, businesses, affairs or assets of a person, that part of the properties, businesses, affairs or assets, as the case may be. ( actif pertinent ) Receivers (2) For the purposes of this Part, where on a particular day a receiver is vested with authority to manage, operate, liquidate, or wind up any business or property, or to manage and care for the affairs and assets, of a person, (a) the receiver shall be deemed to be an agent of the person and any supply made or received and any act performed by the receiver in respect of the relevant assets of the receiver shall be deemed to have been made, received or performed, as the case may be, by the receiver as agent on behalf of the person; (b) the receiver shall be deemed not to be a trustee of the estate of the person or any part of the estate of the person; (c) where the relevant assets of the receiver are a part and not all of the person’s businesses, properties, affairs or assets, the relevant assets of the receiver shall be deemed to be, throughout the period during which the receiver is acting as receiver of the person, separate from the remainder of the businesses, properties, affairs or assets of the person as though the relevant assets were businesses, properties, affairs or assets, as the case may be, of a separate person; (d) the person and the receiver are jointly and severally, or solidarily, liable for the payment or remittance of all amounts that become payable or remittable by the person under this Part before or during the period during which the receiver is acting as receiver of the person to the extent that the amounts can reasonably be considered to relate to the relevant assets of the receiver or to the businesses, properties, affairs or assets of the person that would have been the relevant assets of the receiver if the receiver had been acting as receiver of the person at the time the amounts became payable or remittable, as the case may be, except that (i) the receiver is liable for the payment or remittance of amounts that became payable or remittable before that period only to the extent of the property and money of the person in possession or under the control and management of the receiver after (A) satisfying the claims of creditors whose claims ra