Comprehensive review of directives and regulations under the BIA and the CCAA

March 12, 2021

The Office of the Superintendent of Bankruptcy (OSB) is undertaking a comprehensive review of directives and regulations under the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act to identify areas of Canada’s insolvency system that can be made more agile, transparent and responsive without jeopardizing the integrity of the system. The OSB will consider potential amendments to the regulatory framework, specifically the Superintendent’s directives, forms and regulations, to position the insolvency system for success now and in the future.

The OSB is inviting stakeholders to contribute comments and suggestions on how to modernize and improve the regulatory framework, enhance the effectiveness of its administration, and increase accessibility to insolvency proceedings.


The OSB welcomes all suggestions on how to modernize the insolvency system through changes to directives, forms and regulations. Please be aware that legislative changes fall outside of the scope of this consultation. The OSB recognizes, however, that submissions relating to directives and regulations may suggest the need for legislative change. Such submissions will be shared for consideration with Innovation, Science and Economic Development Canada officials responsible for legislative policy with respect to the insolvency framework.

Please provide your feedback by . Submissions are to be sent to OSB, Policy and Regulatory Affairs at

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For the full details of the consultation, please visit the OSB’s website.