Bill C-501 (Historical)

An Act to amend the Bankruptcy and Insolvency Act (termination and severance pay)

This bill was last introduced in the 40th Parliament, 3rd Session, which ended in March 2011.

Sponsor

John Rafferty NDP

Introduced as a private member’s bill. (These don’t often become law.)

Status

Third reading (House), as of March 9, 2011
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

This enactment amends the Bankruptcy and Insolvency Act to ensure that the claim of a clerk, servant, travelling salesperson, labourer or worker who is owed termination and severance pay by a person is secured as of the date of the bankruptcy or receivership by security on the person's current assets.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, an excellent resource from the Library of Parliament. You can also read the full text of the bill.

Votes

March 9, 2011 Passed That Bill C-501, An Act to amend the Bankruptcy and Insolvency Act and other Acts (pension protection), as amended, be concurred in at report stage.

May 26, 2010 Passed That the Bill be now read a second time and referred to the Standing Committee on Industry, Science and Technology.

Industry, Science and Technology Committee, on Nov. 16, 2010

Ross Laver, Vice-President, Policy and Communications, Canadian Council of Chief Executives
Diane Urquhart, Independent Financial Analyst, As an Individual
Douglas Rienzo, Partner, Pensions and Benefits, Osler, Hoskin & Harcourt LLP
Mike McCracken, Chairman and Chief Executive Officer, Informetrica Limited
Robert Hilton, President, Canadian Federation of Pensioners
Brian Rutherford, President, GENMO Salaried Pension Organization
Jim Cole, Vice-President, Fixed Income, Phillips, Hager & North
Donald Sproule, President, Nortel Retirees and Former Employees Protection Canada
Anne Clark-Stewart, Nortel Retirees, As an Individual
Jack Walsh, Provincial Vice-President, Canadian Federation of Pensioners

Industry, Science and Technology Committee, on Nov. 18, 2010

Andrew Casey, Vice-President, Public Affairs and International Trade, Forest Products Association of Canada
Joel Harden, Pension Policy Advisor to the President, Canadian Labour Congress
Warren Everson, Senior Vice-President, Policy, Canadian Chamber of Commerce
Jonathan Allen, Director, Global Research, RBC Capital Markets, Canadian Chamber of Commerce
Tony Wacheski, As an Individual
Joe Hanlon, President, Local 2693, United Steelworkers
Gladys Comeau, As an Individual
Prabhakar Phatak, As an Individual
Melanie Johannink, As an Individual
Paul Hanrieder, Professional Engineer, As an Individual

Industry, Science and Technology Committee, on Nov. 23, 2010

Ronald Davis, Associate Professor of Law, University of British Columbia; Insolvency Institute of Canada
Craig Hill, Co-Chair, Task Force on Pension Reform, Insolvency Institute of Canada
John Farrell, Executive Director, Federally Regulated Employers - Transportation and Communications (FETCO)
Michael Boychuk, President, BIMCOR Inc., Federally Regulated Employers - Transportation and Communications (FETCO)
William Randle, Assistant General Counsel and Foreign Bank Secretary, Canadian Bankers Association
Stephen Dafoe, Director, Corporate Bond Research, Scotia Capital
John McKenna, Chair, Corporate Practice Committee, PricewaterhouseCoopers Inc., Canadian Association of Insolvency and Restructuring Professionals
Jean-Daniel Breton, Senior Vice-President, Ernst & Young Inc., Canadian Association of Insolvency and Restructuring Professionals
Bill Kennedy, Vice-President, Special Loans, Canadian Bankers Association
Guy Caron, Director, Special Projects, Communications, Energy and Paperworkers Union of Canada
Gaston Carrière, President, Local 142, Communications, Energy and Paperworkers Union of Canada
Ian Markham, Senior Consulting Actuary, Towers Watson
Karen Figueiredo, Member, Towers Watson
Phil Benson, Lobbyist, Teamsters Canada
Leigh Ann Bastien, Partner, Mercer (Canada) Limited
Michel St-Germain, Actuary and Partner, Mercer (Canada) Limited

Industry, Science and Technology Committee, on Nov. 25, 2010

Roger Charland, Senior Director, Corporate and Insolvency Law Policy and Internal Trade, Department of Industry
Mark Mahabir, Committee Researcher
Clerk of the Committee, Ms. Michelle Tittley

Industry, Science and Technology Committee, on Nov. 30, 2010

Anne Clark-Stewart, Member, Nortel Retirees and former employees Protection Canada
Phil Benson, Lobbyist, Teamsters Canada

Industry, Science and Technology Committee, on Dec. 2, 2010

Bruce Robertson, Chief Restructuring Officer, AbitibiBowater Inc.
James Lopez, President, Tembec Inc.
John Farrell, Executive Director, Federally Regulated Employers - Transportation and Communications (FETCO)

Industry, Science and Technology Committee, on Dec. 7, 2010

Industry, Science and Technology Committee, on Feb. 15, 2011

Matt Dooley, Senior Project Leader, Corporate and Insolvency Law Policy and Internal Trade, Department of Industry