Bankruptcy and Insolvency Act

Marginal note:Application of other provisions

• 254 (1) All of the provisions of this Act apply, with such modifications as the circumstances require, in respect of claims by customers for securities and customer name securities as if customers were creditors in respect of such claims.

• Marginal note:Application of transaction provisions

  (2) Sections 91 to 101 apply, with such modifications as the circumstances require, in respect of transactions of a customer with or through a securities firm relating to securities.

• Marginal note:Non-application

  (3) This Part does not apply to proceedings under Part III.

• Marginal note:Termination, set-off

  (4) Nothing in this Part affects the rights of a party to a contract, including an eligible financial contract within the meaning of subsection 65.1(8), with respect to termination or set-off.

• Marginal note:Secured creditors

  (5) The operation of this Part is subject to the rights of secured creditors.