Directive No. 28
Coming into force September 18, 2009
(Supersedes Directive No. 29 issued on July 23, 1993, on the same topic)
- In this Directive,
- "Act" means the Bankruptcy and Insolvency Act;
- "non-resident office" means an office that is in operation and where there is no individual trustee on the premises on a full-time basis;
- "OSB" means the Office of the Superintendent of Bankruptcy;
- "resident office" means the principle place of business from which the trustee normally practises.
Authority and Purpose
- This Directive is issued pursuant to the authority of paragraphs 5(4)(b) and (c) of the Act.
- The purpose of this Directive is to outline the position of the Superintendent regarding the use and operation of a non-resident office by trustees.
- If a trustee wishes to operate out of a location other than his or her resident office, he or she must apply for the registration of the non-resident office.
- This application is made, in writing, to the designated Senior Bankruptcy Analyst responsible for the area in which the non-resident office will be located.
- This application shall meet the requirements of Directive No. 13R2, Trustee Licensing, relating to individuals or corporations.
- The responsibility for authorizing the registration of a non-resident office rests with the designated Senior Bankruptcy Analyst.
- To authorize the operation of a non-resident office where the trustee does not maintain any staff but provides professional services on a regular basis, the designated Senior Bankruptcy Analyst must be satisfied that:
- (a) the trustee has adequate facilities to receive the public, to conduct interviews and to hold meetings of creditors; and
- (b) all files are kept in the trustee's resident office.
- To authorize the operation of a non-resident office where the trustee maintains his or her own staff, the designated Senior Bankruptcy Analyst must be satisfied that:
- (a) the trustee has adequate facilities to receive the public, to conduct interviews and to hold meetings of creditors;
- (b) there are proper internal controls over the operation of the non-resident office;
- (c) if there is more than one licensed trustee in the resident office, one specific trustee is identified as the trustee responsible for the non-resident office;
- (d) there is proper supervision of estates and the books, records and documents relating to the administration of estates by the trustee in charge of the non-resident office;
- (e) a trustee will personally attend the non-resident office on a periodic basis;
- (f) the maintenance of the files in the non-resident office will not adversely affect the administration of estates; and
- (g) the administration of an estate from the non-resident office does not cause additional costs for an estate.
- A trustee may advertise the existence of the non-resident locations but this advertisement must be in accordance with the provisions of Directive No. 29, Advertising by Trustees.
- Before registering a non-resident office pursuant to paragraphs 8 or 9 of this Directive, the designated Senior Bankruptcy Analyst will consider the overall performance of a trustee in the administration of his or her estates.
- If the designated Assistant Superintendent is not satisfied with the trustee's overall performance in the administration of his or her estates, he or she may refuse the application for the registration of a non-resident office.
- If the designated Assistant Superintendent is not satisfied with the trustee's professional services provided in a non-resident office, he or she may cancel the registration of an existing non-resident office.
- If the designated Assistant Superintendent takes any measure under paragraphs 12 or 13 of this Directive, a trustee affected by such measure may make representations to the Superintendent.
Coming into Force
- This Directive comes into force on .
- For any questions pertaining to this Directive, please contact your local OSB office.
Superintendent of Bankruptcy
The HTML version of this Directive is not the official version. In the event of an inconsistency between the HTML and PDF versions of this Directive, the PDF version prevails. Users are required to exercise due diligence with respect to the HTML version.
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