R.S., c. B-3; 1992, c. 27, s. 2 Bankruptcy and Insolvency Act 1 The definition  corporation  in section 2 of the  Bankruptcy and Insolvency Act  is replaced by the following: corporation  means a company or legal person that is incorporated by or under an Act of Parliament or of the legislature of a province, an incorporated company, wherever incorporated, that is authorized to carry on business in Canada or has an office or property in Canada or an income trust, but does not include (a) banks   and   authorized foreign banks  within the meaning of section 2 of the  Bank Act , (b) insurance companies, (c) trust companies, (d) loan companies, or (e) public institutions that receive government operating grants and that are subject to federal or provincial policy directives and operating procedures related to governance, accountability, finance and administration; ( personne morale ) R.S., c. C-36 Companies’ Creditors Arrangement Act 2 The definition  company  in subsection 2(1) of the  Companies’ Creditors Arrangement Act  is replaced by the following: company  means any company, corporation or legal person incorporated by or under an Act of Parliament or of the legislature of a province, any incorporated company having assets or doing business in Canada, wherever incorporated, and any income trust, but does not include (a) banks   and   authorized foreign banks  within the meaning of section 2 of the  Bank Act ,

 (b) telegraph companies, (c) insurance companies, (d) companies to which the  Trust and Loan Companies Act  applies,  or (e) public institutions that receive government operating grants and that are subject to federal or provincial policy directives and operating procedures related to governance, accountability, finance and administration; ( compagnie )