Bill C-501 (Historical)

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

This bill is from 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.

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.

Similar bills

C-338 (41st Parliament, 2nd session) An Act to amend the Bankruptcy and Insolvency Act (termination and severance pay)

C-338 (41st Parliament, 1st session) An Act to amend the Bankruptcy and Insolvency Act (termination and severance pay)

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.

Bill numbers are reused for different bills each new session. Perhaps you were looking for one of these other C-501s:

C-501 (2014) Law National Hunting, Trapping and Fishing Heritage Day Act

C-501 (2013) National Hunting, Trapping and Fishing Heritage Day Act

C-501 (2008) Mathieu Da Costa Day Act

C-501 (2004) An Act to amend the Bank Act (branch closures)

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.

Bankruptcy and Insolvency ActRoutine Proceedings

March 24th, 2010 / 3:30 p.m.

NDP

John Rafferty NDP Thunder Bay—Rainy River, ON

moved for leave to introduce Bill C-501, An Act to amend the Bankruptcy and Insolvency Act and other Acts (pension protection).

Mr. Speaker, I am proud to introduce an act to amend the Bankruptcy and Insolvency Act and other acts, on behalf of the active and retired forestry and manufacturing workers in the riding of Thunder Bay--Rainy River and Northern Ontario, and indeed other active and retired workers around the country who fear for the security of their hard-earned retirement income.

This legislation is long overdue and respects the right of hard-working Canadians to the pensions they have earned throughout their working lives. I would also like to thank the hon. member for Hamilton East—Stoney Creek for his strong leadership on this issue and his ongoing involvement in the promotion of this bill.

This bill should ensure that underfunded pension plans receive a greater share of the assets of bankrupt or restructuring companies. It would do so by moving pensions up the priority list in the bankruptcy and restructuring process, which requires no spending of revenue whatsoever by the federal government.

With this bill, it is clear that New Democrats stand once again with workers and their families. I hope that all members of this place will recognize the importance of this balanced bill and offer it their full support.

(Motions deemed adopted, bill read the first time and printed)