This is part 4, division 7, subdivision E, clauses 265 to 272.
The Bankruptcy and Insolvency Act and the Companies' Creditors Arrangements Act were amended in 2009 to allow insolvent entities that are restructuring under those acts to disclaim agreements in contracts, including intellectual property usage agreements, where doing so would facilitate a successful restructuring. The amendments also sought to protect intellectual property users who relied on the continued use of that intellectual property, subject to the usage agreements. If an intellectual property agreement were disclaimed in a restructuring, the user's right to ongoing use of the intellectual property would not be affected, as long as the user continued to abide by the terms of the initial agreement.
The 2009 amendments only protected intellectual property users affected by the disclaimer of intellectual property agreements in a BIA or CCAA restructuring.
Subdivision E of division 7 of part 4 of the budget implementation act, no. 2, amends the BIA and CCAA to extend those protections afforded to the users of intellectual property in 2009 further, to include asset sales by restructuring companies under the BIA and CCAA as well as liquidations and receiverships under the BIA.
Essentially, if you had a licence to utilize intellectual property with an entity and that entity goes insolvent, we want to ensure that we're preserving those contractually agreed-upon terms so that you're not faced with a potential new owner who's disclaimed your licence, forcing you to renegotiate terms with someone who knows you need the licence so desperately that there can be no level playing field in that negotiation.