Bill S-28
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S-28
First Session, Thirty-eighth Parliament,
53-54 Elizabeth II, 2004-2005
SENATE OF CANADA
BILL S-28
An Act to amend the Bankruptcy and Insolvency Act (student loan)
first reading, March 23, 2005
THE HONOURABLE SENATOR MOORE
0422
SUMMARY
This enactment amends the Bankruptcy and Insolvency Act to provide that an order of discharge does not release a bankrupt from the reimbursement of his or her student loan if the bankruptcy occurred within a period of five years after the bankrupt ceased to be a student. Previously that period was ten years.
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1st Session, 38th Parliament,
53-54 Elizabeth II, 2004-2005
senate of canada
BILL S-28
An Act to amend the Bankruptcy and Insolvency Act (student loan)
R.S., c. B–3;
1992, c. 27, s. 2
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
1. (1) Subparagraph 178(1)(g)(ii) of the Bankruptcy and Insolvency Act is replaced by the following:
(ii) within five years after the date on which the bankrupt ceased to be a full- or part-time student; or
(2) The portion of subsection 178(1.1) of the Act before paragraph (a) is replaced by the following:
Court may order non-application of subsection (1)
(1.1) At any time after five years after a bankrupt who has a debt referred to in paragraph (1)(g) ceases to be a full- or part-time student, as the case may be, under the applicable Act or enactment, the court may, on application, order that subsection (1) does not apply to the debt if the court is satisfied that
Published under authority of the Senate of Canada
Explanatory Notes
Bankruptcy and Insolvency Act
Clause 1: (1) Relevant portion of subsection 178(1):
178. (1) An order of discharge does not release the bankrupt from
. . .
(g) any debt or obligation in respect of a loan made under the Canada Student Loans Act, the Canada Student Financial Assistance Act or any enactment of a province that provides for loans or guarantees of loans to students where the date of bankruptcy of the bankrupt occurred
. . .
(ii) within ten years after the date on which the bankrupt ceased to be a full- or part-time student; or
(2) Relevant portion of subsection 178(1.1):
(1.1) At any time after ten years after a bankrupt who has a debt referred to in paragraph (1)(g) ceases to be a full- or part-time student, as the case may be, under the applicable Act or enactment, the court may, on application, order that subsection (1) does not apply to the debt if the court is satisfied that