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Legislative Assembly of New Brunswick
Status of Legislation - First Reading Bill
An Act to Amend the Assignments and Preferences Act
 
Legislature :
55
Session :
2
Bill No. :
44
Member :
Hon. Green
First Reading :
2005-4-28
Second Reading :
2005-4-29
Committee of the Whole :
2005-5-27
Amended :
Third Reading :
2005-5-27
Royal Assent :
2005-6-3
Download PDF :
  Bill 44         
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Text of Bill :
Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:



1                           Subsection 2(4) of the Assignments and Preferences Act, chapter A-16 of the Revised Statutes, 1973, is repealed.



2                           Section 3 of the Act is amended



(a)               in subsection (1) by striking out "made under the Bankruptcy Act, chapter B-3 of the Revised Statutes of Canada, 1970, or to a sheriff, or to another assignee resident within the Province with the consent of the creditors, as hereinafter provided, for the purpose of paying rateably and proportionately, and without preference or priority, all the creditors of the debtor their just debts" and substituting "made under the Bankruptcy and Insolvency Act (Canada)";



(b)               by repealing subsection (3);



(c)               by repealing subsection (4);



(d)               by repealing subsection (7);



(e)               by repealing subsection (8).



3                           Sections 4, 5, 6, 7, 8, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 and 33 of the Act are repealed.



Consequential amendments

Absconding Debtors Act

4                           Section 13 of the Absconding Debtors Act, chapter A-2 of the Revised Statutes, 1973, is repealed.



Arrest and Examinations Act

5(1)                   Subsection 32(1) of the Arrest and Examinations Act, chapter A-12 of the Revised Statutes, 1973, is amended by striking out "or has made an assignment for the benefit of his creditors under the Assignment and Preferences Act, or brought himself, or been brought under the provisions of any other Act of the Legislature" and substituting "or brought himself or herself, or been brought under the provisions of any Act of the Legislature".



5(2)                   Section 45 of the Act is amended



(a)               by repealing subsection (4);



(b)               by repealing subsection (5).



Creditors Relief Act

6(1)                   Section 2.1 of the Creditors Relief Act, chapter C-33 of the Revised Statutes, 1973, is amended in the definition "enforcement proceeding" by striking out "Arrest and Examinations Act, Assignments and Preferences Act" and substituting "Arrest and Examinations Act".



6(2)                   Subsection 2.4(1) of the Act is amended



(a)               in paragraph (a) by adding "or" at the end of the paragraph, and



(b)               by repealing paragraph (b).



6(3)                   Section 2.6 of the Act is amended by striking out "Arrest and Examinations Act, Assignments and Preferences Act" and substituting "Arrest and Examinations Act".



Landlord and Tenant Act

7                           Subsection 43(1) of the Landlord and Tenant Act, chapter L-1 of the Revised Statutes, 1973, is amended by striking out "Where an assignment is made for the general benefit of creditors, or an order is made" and substituting "Where an order is made".



Partnerships and Business Names Registration Act

8                           Subsection 16(2) of the Partnerships and Business Names Registration Act, chapter P-5 of the Revised Statutes, 1973, is amended by striking out "an assignee for the general benefit of creditors, a bailiff" and substituting "a bailiff".



Personal Property Security Act

9                           Section 1 of the Personal Property Security Act, chapter P-7.1 of the Acts of New Brunswick, 1993, is amended in the definition "creditor" by striking out "an assignee for the benefit of creditors, an executor" and substituting "an executor".



Workers' Compensation Act

10                        Subsection 72(1) of the Workers' Compensation Act, chapter W-13 of the Revised Statutes, 1973, is repealed and the following is substituted:



72(1)               There shall be included among the debts which under the Winding-up Act and the Trustees Act, are, in the distribution of the property in the case of death or in the distribution of the assets of a company being wound up under those Acts respectively, to be paid in priority to all other debts, the amount of any assessment the liability whereof accrued before the date of the death, or before the date of the commencement of the winding-up, and those Acts shall have effect accordingly.



Commencement

11                        This Act comes into force on September 1, 2005.



EXPLANATORY NOTES



Section 1



This amendment is consequential on the amendments made in paragraphs (2)(c) and (d) of this amending Act.



Section 2



(a)               This amendment is consequential on the amendments made in paragraphs (2)(c) and (d) of this amending Act.



(b)               This amendment is consequential on the amendments made in paragraphs (2)(c) and (d) of this amending Act.



(c)                The existing provision is as follows:



3(4)                   Every assignment for the general benefit of creditors, not made under the Bankruptcy Act, chapter B-3 of the Revised Statutes of Canada, 1970, whether the assignment is or is not expressed to be made under or in pursuance of this Act, and whether the debtor has or has not included all his real estate and personal estate, vests the estate, whether real or personal, or part real and part personal, thereby assigned, in the assignee therein named for the general benefit of creditors, and such assignment and the property thereby assigned is subject to all the provisions of this Act, and the provisions hereof apply to the assignee named thereunder.



(d)               The existing provision is as follows:



3(7)                   The debtor may, in the first place, with the consent of a majority of his creditors having claims of one hundred dollars and upwards, computed according to the provisions of section 16, make a general assignment for the benefit of his creditors to some person other than the sheriff, and residing in this Province.



(e)                This amendment is consequential on the amendments made in paragraphs (2)(c) and (d) of this amending Act.



Section 3



This amendment is consequential on the amendments made in paragraphs (2)(c) and (d) of this amending Act.



Section 4



Consequential amendment.



Section 5



(1) and (2)          Consequential amendments.



Section 6



(1) to (3)             Consequential amendments.



Section 7



Consequential amendment.



Section 8



Consequential amendment.



Section 9



Consequential amendment.



Section 10



Consequential amendment.



Section 11



Commencement provision.
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Legend
* Private Bill
** Bill referred to Standing Committee on Law Amendments
+ Private Member's Public Bill
++ Motion for second reading defeated
+++ Debate at second reading adjourned
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