Marginal note:Fees and disbursements of trustee

156. The trustee shall receive such fees and disbursements as may be prescribed.

Marginal note:Agreement to pay fees and disbursements

156.1 An individual bankrupt who has never before been bankrupt under the laws of Canada or of any prescribed jurisdiction and who is not required to make payments under section 68 to the estate of the bankrupt may enter into an agreement with the trustee to pay the trustee’s fees and disbursements if the total amount required to be paid under the agreement is not more than the prescribed amount and that total amount is to be paid before the expiry of the 12-month period after the bankrupt’s discharge. The agreement may be enforced after the bankrupt’s discharge.

Marginal note:All other provisions of Act to apply

157. Except as provided in section 155, all the provisions of this Act, in so far as they are applicable, apply with such modifications as the circumstances require to summary administration.

Marginal note:Counselling

• 157.1 (1) The trustee

  • (a) shall provide, or provide for, counselling for an individual bankrupt, and

  • (b) may provide, or provide for, counselling for a person who, as specified in directives of the Superintendent, is financially associated with an individual bankrupt,

  in accordance with directives issued by the Superintendent pursuant to paragraph 5(4)(b), and the estate of the bankrupt shall pay the costs of the counselling, as costs of administration of the estate, according to the prescribed tariff.

• Marginal note:Idem

  (2) Where counselling is provided by a trustee to a debtor who is not a bankrupt, that counselling must be provided in accordance with directives issued by the Superintendent pursuant to paragraph 5(4)(b).

• Marginal note:Effect on automatic discharge

  (3) Subsection 168.1(1) does not apply to an individual bankrupt who has refused or neg­lected to receive counselling under subsection (1).

Marginal note:Duties of bankrupt

158. A bankrupt shall

• (a) make discovery of and deliver all his property that is under his possession or control to the trustee or to any person authorized by the trustee to take possession of it or any part thereof;

• (a.1) in such circumstances as are specified in directives of the Superintendent, deliver to the trustee, for cancellation, all credit cards issued to and in the possession or control of the bankrupt;

• (b) deliver to the trustee all books, records, documents, writings and papers including, without restricting the generality of the foregoing, title papers, insurance policies and tax records and returns and copies thereof in any way relating to his property or affairs;

• (c) at such time and place as may be fixed by the official receiver, attend before the official receiver or before any other official receiver delegated by the official receiver for examination under oath with respect to his conduct, the causes of his bankruptcy and the disposition of his property;

• (d) within five days following the bankruptcy, unless the time is extended by the official receiver, prepare and submit to the trustee in quadruplicate a statement of the bankrupt’s affairs in the prescribed form verified by affidavit and showing the particulars of the bankrupt’s assets and liabilities, the names and addresses of the bankrupt’s creditors, the securities held by them respectively, the dates when the securities were respectively given and such further or other information as may be required, but where the affairs of the bankrupt are so involved or complicated that the bankrupt alone cannot reasonably prepare a proper statement of affairs, the official receiver may, as an expense of the administration of the estate, authorize the employment of a qualified person to assist in the preparation of the statement;

• (e) make or give all the assistance within his power to the trustee in making an inventory of his assets;

• (f) make disclosure to the trustee of all property disposed of within the period beginning on the day that is one year before the date of the initial bankruptcy event or beginning on such other antecedent date as the court may direct, and ending on the date of the bankruptcy, both dates included, and how and to whom and for what consideration any part thereof was disposed of except such part as had been disposed of in the ordinary manner of trade or used for reasonable personal expenses;

• (g) make disclosure to the trustee of all property disposed of by gift or settlement without adequate valuable consideration within the period beginning on the day that is five years before the date of the initial bankruptcy event and ending on the date of the bankruptcy, both dates included;

• (h) attend the first meeting of his creditors unless prevented by sickness or other sufficient cause and submit thereat to examination;

• (i) when required, attend other meetings of his creditors or of the inspectors, or attend on the trustee;

• (j) submit to such other examinations under oath with respect to his property or affairs as required;

• (k) aid to the utmost of his power in the realization of his property and the distribution of the proceeds among his creditors;

• (l) execute any powers of attorney, transfers, deeds and instruments or acts that may be required;

• (m) examine the correctness of all proofs of claims filed, if required by the trustee;

• (n) in case any person has to his knowledge filed a false claim, disclose the fact immediately to the trustee;

• (n.1) inform the trustee of any material change in the bankrupt’s financial situation;

• (o) generally do all such acts and things in relation to his property and the distribution of the proceeds among his creditors as may be reasonably required by the trustee, or may be prescribed by the General Rules, or may be directed by the court by any special order made with reference to any particular case or made on the occasion of any special application by the trustee, or any creditor or person interested; and

• (p) until his application for discharge has been disposed of and the administration of the estate completed, keep the trustee advised at all times of his place of residence or address.