Bankruptcy and Insolvency General Rules

103 (1) At the time of the hearing, the registrar shall consider the creditors’ objections and the letter of comment issued by the Superintendent, and shall tax the administrator’s accounts accordingly.

(2) Where the registrar taxes an administrator’s accounts as submitted, the administrator shall, within two months after the date of the taxation order,

• (a) send each creditor the final dividend that is owed to them;

• (b) close the bank account used in administering the consumer proposal, if that account is not a consolidated account, or, where the account is a consolidated account, ensure that all funds governed by the consumer proposal have been withdrawn from it;

• (c) remit any unclaimed dividends and undistributed funds to the Superintendent; and

• (d) send to the Division Office a certificate of compliance and deemed discharge, in prescribed form.

(3) The administrator is deemed to be discharged on meeting the requirements of subsection (2).

(4) Where the registrar taxes an administrator’s accounts otherwise than as submitted, the administrator shall

• (a) adjust the administrator’s fee as taxed and, if that fee was reduced by the taxation, reimburse the difference to the bank account used in administering the consumer proposal; and

• (b) within two months after the date of the taxation order,

  • (i) send each creditor the final dividend that is owed to them, in accordance with the taxation order,

  • (ii) close the bank account used in administering the consumer proposal, if that account is not a consolidated account, or, where the account is a consolidated account, ensure that all funds governed by the consumer proposal have been withdrawn from it,

  • (iii) remit any unclaimed dividends and undistributed funds to the Superintendent,

  • (iv) send to the Division Office and to each creditor a revised final statement of receipts and disbursements, a revised dividend sheet and a copy of the taxation order, and

  • (v) send to the Division Office and to the registrar a certificate of compliance and deemed discharge, in prescribed form.

(5) The administrator is deemed to be discharged on meeting the requirements of subsection (4).