General Transitional Directive

July 23, 1993

To: All trustees

You will find attached a copy of the General Transitional Directive.

This Directive clarifies the status of Directives issued before November 30, 1992, when amendments to the Bankruptcy and Insolvency Act (BIA) came into force. Schedule I lists Directives which are hereby being reissued pursuant to the authority of paragraph 5(4)(c) of the BIA. Schedule II lists the Directives which are hereby revoked or have already been replaced by Insolvency Circulars.

The Directives in Schedule I will be reissued in due course to reflect changes to the BIA and in policies. Schedule I also includes Directives which will be reissued as Insolvency Circulars. As the Insolvency Circulars are issued, the corresponding Directives will be revoked.

Trustees are reminded that they are required to comply with the Superintendent's Directives pursuant to subsection 5(5) of the BIA.

George F. Redling
Superintendent of Bankruptcy

General Transitional Directive

Issued: July 23, 1993

Interpretation

1. In this Directive,

   "Act" Bankruptcy and Insolvency Act

   Policy

2. The Superintendent, pursuant to the authority of paragraph 5(4)(c) of the Act, hereby reissues the directives issued prior to the coming into force of the Act to amend the Bankruptcy Act and to amend the Income Tax Act in consequence thereof, S.C. 1992, c.27, which are listed in Schedule I.
3. References to "trustee" contained in the directives listed in Schedule I shall be deemed to include a trustee licensed under subsection 13(1) of the Act, and an administrator of consumer proposals as defined in section 66.11 of the Act.
4. The Directives set out in Schedule II are hereby revoked.
   The Superintendent of Bankruptcy

George F. Redling