Mr. Speaker, I have the honour to introduce my first bill in the House today, a private member's bill that seeks to amend the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act.
This bill seeks to correct the injustice faced by retired workers whose pension plans and group insurance plans are not protected when their company goes bankrupt or undergoes restructuring.
I will do everything in my power to ensure that this bill receives royal assent, that way, we can help prevent retirees, like those from my riding who are here today to support me, from losing their pensions, and improve the existing legislation by giving pension plans' unfunded liabilities preferred creditor status, among other things. I hope my colleagues will be supporting this bill.
(Motions deemed adopted, bill read the first time and printed)