Program directory · Innovation, Science and Economic Development Canada
Insolvency
- Program code
- BNP10 (ISC)
- Core responsibility
- Companies, Investment and Growth
- In Departmental Plans
- 2018-19 – 2020-21 · Appeared and later dropped
What it does
The Insolvency program is responsible for supervising all estates and matters to which the Bankruptcy and Insolvency Act (BIA) applies and certain matters under the Companies’ Creditors’ Arrangement Act (CCAA) through the Office of the Superintendent of Bankruptcy (OSB). Qualified insolvency professionals licensed by the OSB work directly with insolvent consumers and businesses to complete the necessary steps in a bankruptcy, proposal, commercial reorganization or receivership providing an opportunity of financial recovery while allowing for assets to be returned to productive use. Predictable rules governing insolvency contribute to a commercial environment that provides security for entrepreneurs, investors and creditors. The OSB licenses and regulates the insolvency profession; maintains and provides access to a public record of BIA and CCAA filings, data and statistics; records and investigates complaints regarding the insolvency process; and ensures compliance through maintenance and enforcement of the regulatory framework. Operating as a vote net revenue organization within Innovation, Science and Economic Development Canada, the OSB recovers its costs from the insolvency process and carries out its duties at arm’s length from the government. This program supports the departmental result “Canada is a location of choice for investment, growth and tourism” under the Companies, Investment and Growth core responsibility.
Source: the department's Program Inventory, via GC InfoBase.
History and lineage
First appears in GC InfoBase's actual spending by program in 2018-19. The data does not record when a program was created; it may be older than its first appearance here, which is limited by the sources (program spending starts in 2010-11, Departmental Plans in 2018-19).
| Program | Relation | Years with data | Actual spending over those years |
|---|---|---|---|
| Insolvency | This program | 2018-19 – 2022-23 | $16.8M |
No earlier or later program in the same department has a similar name.
Significant changes in scope and budget
Detected from the data: renames between plans, programs it appears to replace, merge with or split into (matched by name), year-over-year changes in spending of at least 25% and $5M, or in employees of at least 20% and 25 FTEs, linked budget measures, and results indicators added or dropped.
No significant changes detected.
Success criteria
The program's indicators from its department's Departmental Results Framework: the target set in each year's plan, and the result reported the following year. Source: GC InfoBase.
Historical: targets against results
Bars: result reported. Dashed line: target.
| Report year | Target | Due | Result | Status |
|---|---|---|---|---|
| 2018-19 | ≥ 97% | 2019 | 96% A new Superintendent of Bankruptcy was appointed in October 2018 and as part of her strategic objectives, the OSB increased its focus on enforcement of the regulatory framework. This focus may result in a temporary increase in the percentage of Licensed Insolvency Trustees (LITs) who are found to be non-compliant with the regulatory framework. | Not met |
| 2019-20 | ≥ 90% | 2020 | 95% With the appointment of a new Superintendent in October 2018, the Office of the Superintendent of Bankruptcy (OSB) increased its focus on enforcement of the regulatory framework. This has resulted in a slight increase in the percentage of Licensed Insolvency Trustees (LITs) who are found to be non-compliant with the regulatory framework and this trend may continue in future years. | Met |
| 2020-21 | ≥ 90% | 2021 | 96% | Met |
Current: the 2026-27 plan's targets
No indicators in the 2026-27 plan.
Future goals: targets due after 2026-27
No targets with a later due date.
Spending and employees: planned against actual
Spending
Show the numbers
| Fiscal year | Planned | Actual |
|---|---|---|
| 2018-19 | $5M | $5.1M |
| 2019-20 | $5M | $5.5M |
| 2020-21 | $4.9M | $6.2M |
| 2021-22 | $4.9M* | — |
| 2022-23 | $4.9M* | — |
Employees (FTEs)
Show the numbers
| Fiscal year | Planned | Actual |
|---|---|---|
| 2018-19 | 375 | 379 |
| 2019-20 | 378 | 383 |
| 2020-21 | 380 | 378 |
| 2021-22 | 380* | — |
| 2022-23 | 380* | — |
Planned spending, plan by plan
Each row is one year's Departmental Plan and its forecast for the next three fiscal years; read a column down to see how the forecast for one year changed. The last row is what was actually spent. Click an amount for its source. Biggest changes in federal spending plans
| Plan | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 |
|---|---|---|---|---|---|
| 2018-19 plan | $4,990,648 | $4,990,648 | $4,990,648 | ||
| 2019-20 plan | $5,021,744 | $5,021,743 | $5,021,744 | ||
| 2020-21 plan | $4,869,394 | $4,869,767 | $4,869,852 | ||
| Actual | $5,101,056 | $5,508,839 | $6,189,426 |
Actual spending is from Departmental Results Reports and the Public Accounts, as published in GC InfoBase. FTEs are full-time equivalents.
