Pension Protection Act

An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985

Sponsor

Marilyn Gladu  Conservative

Introduced as a private member’s bill.

Status

This bill has received Royal Assent and is, or will soon become, law.

Summary

This is from the published bill. The Library of Parliament has also written a full legislative summary of the bill.

This enactment amends the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act to ensure that claims in respect of unfunded liabilities or solvency deficiencies of pension plans and claims relating to the cessation of an employer’s participation in group insurance plans are paid in priority in the event of bankruptcy proceedings.
It also amends the Pension Benefits Standards Act, 1985 to provide for the tabling of an annual report respecting the solvency of pension plans.

Similar bills

C-225 (current session) An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985 (pension plans and group insurance plans)
C-259 (43rd Parliament, 2nd session) An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985 (pension plans and group insurance programs)

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-228s:

C-228 (2021) Law Reduction of Recidivism Framework Act
C-228 (2020) Reduction of Recidivism Framework Act
C-228 (2016) An Act to amend the Fisheries Act (closed containment aquaculture)
C-228 (2013) National Appreciation Day Act
C-228 (2011) National Appreciation Day Act
C-228 (2010) Canada Water Preservation Act

Votes

Nov. 23, 2022 Passed 3rd reading and adoption of Bill C-228, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985
June 22, 2022 Passed 2nd reading of Bill C-228, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985

Pension Protection ActPrivate Members' Business

June 22nd, 2022 / 3:50 p.m.

Liberal

Parm Bains Liberal Steveston—Richmond East, BC

Mr. Speaker, I ask for unanimous consent to change my vote to “for”.

Pension Protection ActPrivate Members' Business

June 22nd, 2022 / 3:50 p.m.

The Speaker Anthony Rota

Do we have unanimous consent?

Pension Protection ActPrivate Members' Business

June 22nd, 2022 / 3:50 p.m.

Some hon. members

No.

(The House divided on the motion, which was agreed to on the following division:)

Vote #165

Pension Protection ActPrivate Members' Business

June 22nd, 2022 / 3:50 p.m.

The Speaker Anthony Rota

I declare the motion carried. Accordingly, the bill stands referred to the Standing Committee on Finance.

(Bill read the second time and referred to a committee)