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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