Property of the bankrupt (Section 67)
- The property of a bankrupt divisible among his creditors shall not comprise:
- (a) Property held by the bankrupt in trust for any other person;
- (b) Any property that as against the bankrupt is exempt from execution or seizure under the laws of the province within which the property is situated
and within which the bankrupt resides; or
- (b.1)such goods and servces tax credit payments and prescribed payments relating to
the essential needs of an individual as are made in prescribed circumstances and
are not property reffered to in paragraph (a) or (b)
- But it shall comprise:
- (c) All property wherever situated of the bankrupt at the date of
his bankruptcy or that may be acquired by or devolve on him before his
discharge; and
- (d) Such powers in or over or in respect of the property as might have been
exercised by the bankrupt for his own benefit.
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