Insolvency law of Canada
The Parliament of Canada has exclusive jurisdiction to regulate matters relating to bankruptcy and insolvency, by virtue of Section 91(2) of the Constitution Act, 1867. It has passed the following statutes as a result: The Bankruptcy and Insolvency Act ("BIA") The Companies' Creditors Arrangement Act ("CCAA") The Farm Debt Mediation Act The Wage Earner Protection Program Act The Winding-Up and Restructuring Act (which essentially applies only to financial institutions under federal jurisdiction) In applying these statutes, provincial law has important consequences.