Bill C-331

An Act to amend the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act (pension plans)

This bill was tabled by Wayne Marston on Oct. 19, 2011.

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How does a bill become a law?

Don’t trust Schoolhouse Rock – that’s for Americans. To become a law, a bill in the Canada’s Parliament needs to go through the following steps, and pass when voted on during each step:

  • It all starts with the first reading, when the bill is introduced.
  • Next comes the second reading, when other MPs or Senators get to debate the bill.
  • After that, the bill goes to a committee that studies and amends it line-by-line. Once they finish, the bill goes returns to the House or Senate for the report stage, where anyone can propose amendments.
  • The third reading is the moment of truth: no more changes, just a debate and a final vote on whether or not the bill should pass.
  • If a bill makes it through all of those steps – in both the House of Commons and Senate – it’s ready to get Royal Assent and become a law.

Status of this Bill

Introduction and First Reading

Activity Feed

  • Photo of Wayne Marston
    Wayne Marston spoke about Private Members' Business > Canada Pension Plan

    Mr. Speaker, I am pleased to rise in this place to speak to Bill C-326, An Act to amend the Canada Pension Plan and the Old Age Security Act (biweekly payment of benefits). ... more

    April 3, 2012,   Parliament
  • Photo of Wayne Marston
    Wayne Marston spoke about Government Orders > Keeping Canada's Economy and Jobs Growing Act

    Mr. Speaker, on that very topic I have introduced Bill C-331 which would move the assets of a pension plan ahead of unsecured debt in bankruptcy, insolvency and CCAA. We had the situation of Nortel and a number of pulp and paper mills across the country that closed. In some instances, the assets of the pension plan were used like a separate pool to pay down debt when in fact they belonged to workers. In addressing that, we have to change the priority in bankruptcy. In fairness, I have spoken to the Parliamentary Secretary to the Minister of Finance about this very issue, and what I understand from the government side is that it is going to take a fair look at this.

    Nov. 21, 2011,   Parliament
  • Photo of Wayne Marston
    Wayne Marston spoke about Oral Questions > Pensions

    Mr. Speaker, over the last five years, many workers across Canada have seen their pensions drastically reduced because their employers went out of business. Yesterday, I tabled Bill C-331, my pension protection act, which is designed to give pensions priority at the time of bankruptcies. At the present time pensioners must wait behind junk bondholders and bank investments. This is done before they can get their pensions, their deferred wages. This is clearly wrong. ... more

    Oct. 19, 2011,   Parliament
  • Photo of Wayne Marston
    Wayne Marston spoke about Routine Proceedings > Bankruptcy and Insolvency Act

    moved for leave to introduce Bill C-331, An Act to amend the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act (pension plans). ... more

    Oct. 18, 2011,   Parliament