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Bankruptcy and Insolvency Act

Version of section 243 from 2002-12-31 to 2009-09-17:

Marginal note:Definition of "court" in certain places

  •  (1) In paragraphs (2)(b) and 250(2)(a) and (b), court means

    • (a) any court other than a court as defined in section 2; and

    • (b) a court as defined in section 2 when not exercising jurisdiction in bankruptcy.

  • Marginal note:Definition of "receiver"

    (2) Subject to subsection (3), in this Part, receiver means a person who has been appointed to take, or has taken, possession or control, pursuant to

    • (a) an agreement under which property becomes subject to a security (in this Part referred to as a "security agreement"), or

    • (b) an order of a court made under any law that provides for or authorizes the appointment of a receiver or receiver-manager,

    of all or substantially all of

    • (c) the inventory,

    • (d) the accounts receivable, or

    • (e) the other property

    of an insolvent person or a bankrupt that was acquired for, or is used in relation to, a business carried on by the insolvent person or bankrupt.

  • Marginal note:Idem

    (3) For the purposes of subsection 248(2), the definition "receiver" in subsection (2) shall be read without reference to paragraph (b) thereof.

  • 1992, c. 27, s. 89

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