General Transitional Directive (2011)

Repeal of Directive No. 3R, Duties of the Bankrupt to Deliver Credit Cards to the Trustee


Date: May 16, 2011

Directive No. 3R, Duties of the Bankrupt to Deliver Credit Cards to the Trustee, respecting credit cards delivered by the bankrupt pursuant to subsection 158(b) of the Bankruptcy and Insolvency Act, has been repealed.

Directive No. 3R required trustees to cut up a bankrupt's credit cards to prevent further unauthorized use by the bankrupt and to return to the card issuer the destroyed credit cards accompanied by a notice of bankruptcy.

Provided the card issuer receives timely notification of the bankruptcy, returning the destroyed cards to the issuer is not required to prevent further unauthorized use of the cards.

Enquiries

If you require further information, please do not hesitate to contact the OSB office nearest you.

Att.

James Callon
Superintendent of Bankruptcy


General Transitional Directive (2011)

Issued:

Interpretation

1. In this Directive,

"Act" means the Bankruptcy and Insolvency Act;

"OSB" means the Office of the Superintendent of Bankruptcy.

Authority and Purpose

2. This Directive is issued pursuant to the authority of paragraphs 5(4)(b) and (c) of the Act for the purpose of repealing Directive No. 3R, Duties of the Bankrupt to Deliver Credit Cards to the Trustee, issued on August 14, 2009.

Policy

3. Directive No. 3R, Duties of the Bankrupt to Deliver Credit Cards to the Trustee, is hereby repealed.

Coming into Force

4. This Directive comes into force on the date that it is issued.

Enquiries

5. For any questions pertaining to this Directive, please contact your local OSB office.

James Callon
Superintendent of Bankruptcy

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