Powers of liquidators, trustees, etc.

Powers of liquidators, trustees, etc.

5 (1) For the purposes of this Act, each of the following is considered to be a company: (a) a liquidator, receiver or manager of the property of a company, appointed by a court of competent jurisdiction to carry on the business of the company; (b) a trustee — or the holder of a power of attorney within the meaning of the Civil Code of Québec — for the holders of bonds, debentures, debenture stock or other evidence of indebtedness of the company, secured under a trust deed, an act constituting a hypothec within the meaning of the Civil Code of Québec or other instrument or act, on or against the property of the company, if the trustee or holder is authorized by the instrument or act to carry on the business of the company; and (c) a person, other than a company, (i) operating a pipeline constructed before October 1, 1953, or (ii) constructing, operating or abandoning a pipeline exempted from subsection 179(1) by an order made by the Commission under subsection 214(1). (2) In Quebec, the administrator of the property of the company appointed by a court of competent jurisdiction to carry on the business of the company is also considered to be the company. (3) For the purposes of this Act, a successor or assign of a company is considered to be a company for any matter relating to an abandoned pipeline.