• 50. (1) Paragraphs 83(1)(a) to (c) of the English version of the Act are replaced by the following:

  • (a) if the work covered by the copyright has not been published and put on the market at the time of the bankruptcy and no expense has been incurred in connection with that work, revert and be delivered to the author or their heirs, and any contract or agreement between the author or their heirs and the bankrupt shall then terminate and be void or, in the Province of Quebec, null;

  • (b) if the work covered by the copyright has in whole or in part been put into type and expenses have been incurred by the bankrupt, revert and be delivered to the author on payment of the expenses so incurred and the product of those expenses shall also be delivered to the author or their heirs and any contract or agreement between the author or their heirs and the bankrupt shall then terminate and be void or, in the Province of Quebec, null, but if the author does not exercise their rights under this paragraph within six months after the date of the bankruptcy, the trustee may carry out the original contract; or

  • (c) if the trustee at the end of the six-month period from the date of the bankruptcy decides not to carry out the contract, revert without expense to the author and any contract or agreement between the author or their heirs and the bankrupt shall then terminate and be void or, in the Province of Quebec, null.

• (2) Paragraph 83(2)(b) of the French version of the Act is replaced by the following:

  • b) le syndic n’a pas le pouvoir, sans le consentement écrit de l’auteur ou de ses héritiers, de céder le droit d’auteur ou de céder ou d’accorder un intérêt dans ce droit d’auteur par licence ou autrement, sauf en des termes qui garantissent à l’auteur ou à ses héritiers des paiements, sous forme de redevances ou de tantièmes sur les profits, à un taux non inférieur à celui que le failli était tenu de payer;

• (3) Paragraph 83(2)(c) of the English version of the Act is replaced by the following:

  • (c) any contract or agreement between the author or their heirs and the bankrupt shall then terminate and be void or, in the Province of Quebec, null, except with respect to the disposal, under this subsection, of copies of the work published and put on the market before the bankruptcy.

51. Section 84 of the French version of the Act is replaced by the following:

• 52. (1) Subsection 85(1) of the French version of the Act is replaced by the following:

  Marginal note:Application aux sociétés de personnes en commandite

  • 85. (1) La présente loi s’applique aux sociétés de personnes en commandite de la même manière que si elles étaient des sociétés en nom collectif; et, lorsque tous les membres d’une telle société deviennent en faillite, les biens de celle-ci sont dévolus au syndic.

• (2) Subsection 85(2) of the English version of the Act is replaced by the following:

  • Marginal note:Actions by trustee and bankrupt’s partner

    (2) If a member of a partnership becomes bankrupt, the court may authorize the trustee to commence and prosecute any action in the names of the trustee and of the bankrupt’s partner, and any release by the partner of the debt or demand to which the action relates is void or, in the Province of Quebec, null.

Marginal note:1992, c. 27, s. 39(1)

53. Paragraph 87(1)(a) of the Act is replaced by the following:

Marginal note:1997, c. 12, s. 75

• 54. (1) Subsections 91(1) and (2) of the English version of the Act are replaced by the following:

  Marginal note:Certain settlements ineffective

  • 91. (1) Any settlement of property made within the period beginning on the day that is one year before the date of the initial bankruptcy event in respect of the settlor and ending on the date that the settlor became bankrupt, both dates included, is void as against, or in the Province of Quebec, may not be set up against, the trustee.

  • Marginal note:If bankrupt within five years

    (2) Any settlement of property made within the period beginning on the day that is five years before the date of the initial bankruptcy event in respect of the settlor and ending on the date that the settlor became bankrupt, both dates included, is void as against, or in the Province of Quebec, may not be set up against, the trustee if the trustee can prove that the settlor was, at the time of making the settlement, unable to pay all the settlor’s debts without the aid of the property that was the subject of the settlement or that the interest of the settlor in the property did not pass on the execution of the settlement.

• Marginal note:2000, c. 12, s. 11

  (2) Subsection 91(3) of the Act is replaced by the following:

  • Marginal note:Non-application of section

    (3) This section does not extend to any settlement made in favour of a purchaser, incumbrancer or holder of a charge in good faith and for valuable consideration.

• 55. (1) Subsection 94(1) of the English version of the Act is replaced by the following:

  Marginal note:General assignments of book debts ineffective

  • 94. (1) If a person engaged in any trade or business makes an assignment of their existing or future book debts or any class or part of those debts and subsequently becomes bankrupt, the assignment of book debts is void as against, or in the Province of Quebec, may not be set up against, the trustee with respect to any book debts that have not been paid at the date of the bankruptcy.

• (2) Subsection 94(3) of the English version of the Act is replaced by the following:

  • Marginal note:Other cases

    (3) Nothing in this section renders void or, in the Province of Quebec, null any assignment of book debts due at the date of the assignment from specified debtors, or of debts growing due under specified contracts, or any assignment of book debts included in a transfer of a business made in good faith and for adequate valuable consideration.

Marginal note:1997, c. 12, s. 78(1)

56. Subsections 95(1) and (2) of the Act are replaced by the following:

Marginal note:1997, c. 12, s. 79

57. Section 96 of the Act is replaced by the following:

Marginal note:1997, c. 12, s. 80

• 58. (1) The portion of subsection 97(1) of the Act before paragraph (a) is replaced by the following:

  Marginal note:Protected transactions

  • 97. (1) No payment, contract, dealing or transaction to, by or with a bankrupt made between the date of the initial bankruptcy event and the date of the bankruptcy is valid, except the following, which are valid if made in good faith, subject to the foregoing provisions of this Act with respect to the effect of bankruptcy on an execution, attachment or other process against property, and subject to the provisions of this Act respecting settlements, preferences and reviewable transactions:

• Marginal note:1997, c. 12, s. 80

  (2) Paragraph 97(1)(c) of the Act is replaced by the following:

  • (c) a transfer by the bankrupt for adequate valuable consideration; and

• (3) Subsection 97(2) of the Act is replaced by the following:

  • Definition of “adequate valuable consideration”

    (2) The expression “adequate valuable consideration” in paragraph (1)(c) means a consideration of fair and reasonable money value with relation to that of the property assigned or transferred, and in paragraph (1)(d) means a consideration of fair and reasonable money value with relation to the known or reasonably to be anticipated benefits of the contract, dealing or transaction.

• (4) Subsection 97(3) of the English version of the Act is replaced by the following:

  • Marginal note:Law of set-off or compensation

    (3) The law of set-off or compensation applies to all claims made against the estate of the bankrupt and also to all actions instituted by the trustee for the recovery of debts due to the bankrupt in the same manner and to the same extent as if the bankrupt were plaintiff or defendant, as the case may be, except in so far as any claim for set-off or compensation is affected by the provisions of this Act respecting frauds or fraudulent preferences.