Bill C-309 is a proposed law that would change the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act. The purpose of the bill is to exempt certain public institutions from these acts. Public institutions that receive government operating grants and are subject to federal or provincial policy directives and operating procedures related to governance, accountability, finance, and administration would be excluded from the application of these acts. This means that these public institutions would not have to follow the bankruptcy and insolvency rules that other companies and organizations are required to follow.
Concurrence in Committee Reports
Report No. 9 - Bill C-316, An Act to amend the Department of Canadian Heritage Act (Court Challenges Program) - Extension - Standing Committee on Canadian Heritage