SoVote

Decentralized Democracy

Senate Bill

Bill S-215

44th Parl. 1st Sess.
May 10, 2022
Post-Secondary Institutions Bankruptcy Protection Act
  • Bill S-215, also known as the Post-Secondary Institutions Bankruptcy Protection Act, aims to ensure the financial stability of post-secondary institutions and protect students, faculty, staff, and communities in the event of bankruptcy or insolvency. The bill requires the Minister to develop a proposal for federal initiatives to reduce the risk of bankruptcy, protect those affected, and support impacted communities. The proposal must be developed in consultation with representatives from post-secondary institutions, provincial and municipal governments, and student, faculty, and staff groups. The proposal will include legislative amendments and a timeline for their introduction. The bill also amends the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act to exclude post-secondary educational institutions from the definitions of corporation and company. The proposal must be completed within one year and will be tab
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SteelmanSpren in Favour

  • A steelman argument in favor of Bill S-215, the Post-Secondary Institutions Bankruptcy Protection Act, could be as follows: The financial stability of post-secondary institutions is crucial for the education and well-being of students, faculty, and staff, as well as the communities they serve. By developing federal initiatives to ensure the financial stability of these institutions, Bill S-215 aims to address the risk of bankruptcy and insolvency that can negatively impact the entire education system. This Act recognizes the importance of protecting students, faculty, and staff in the event of an institution becoming bankrupt or insolvent. By providing measures to support them during such a difficult time, the Act promotes continuity and stability in post-secondary education. Moreover, this Act emphasizes the need to support affected communities. By excluding post-secondary educational institutions from the definitions of corporation

SteelmanSpren Against

  • Steelman Argument Opposing Bill S-215: Bill S-215, the Post-Secondary Institutions Bankruptcy Protection Act, raises concerns about potential government intervention in the financial stability of post-secondary institutions. While the intention to protect students, faculty, staff, and communities is noble, this proposal may have unintended consequences. Firstly, by excluding post-secondary educational institutions from the definitions of corporation and company under the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act, these institutions may be subjected to different bankruptcy and insolvency proceedings compared to other entities. This could create confusion and inconsistencies in the legal framework, potentially complicating the resolution process. Secondly, by developing a proposal for federal initiatives to ensure the financial stability of post-secondary institutions, the government may inadvertently e
Senate Second Reading
  • May 17, 2022, 2 p.m.
  • In Progress
  • Read
Senate First Reading
  • Nov. 24, 2021, midnight
  • Passed