42. (1) A debtor commits an act of bankruptcy in each of the following cases:

• ...
• (e) if the debtor permits any execution or other process issued against the debtor under which any of the debtor's property is seized, levied on or taken in execution to remain unsatisfied until within five days from the time fixed by the sheriff for the sale thereof or for fifteen days after the seizure, levy or taking in execution, or if any of the debtor's property has been sold by the sheriff, or if the execution or other process has been held by the sheriff for a period of fifteen days after written demand for payment without seizure, levy or taking in execution or satisfaction by payment, or if it is returned endorsed to the effect that the sheriff can find no property whereon to levy or to seize or take, but where interpleader proceedings have been instituted with respect to the property seized, the time elapsing between the date at which the proceedings were instituted and the date at which the proceedings are finally disposed of, settled or abandoned shall not be taken into account in calculating the period of fifteen days; ....

The effect of paragraph 42(1)(e) is to set aside the presumption of an act of bankruptcy when a person has legitimate cause to oppose seizure. In common law, "interpleader" proceedings serve this purpose. The equivalent term in French,"entreplaideries", does not appear in the French version.

In civil law, the appropriate procedure is called "opposition to seizure" and the term appears in the French version, however it is absent from the English version.

In the English version, the term "opposition" is added. In the French version, the term "entreplaideries" is added.

  42. (1) A debtor commits an act of bankruptcy in each of the following cases:

• ...
• (e) if the debtor permits any execution or other process issued against the debtor under which any of the debtor's property is seized, levied on or taken in execution to remain unsatisfied until within five days after the time fixed by the executing officer for the sale of the property or for fifteen days after the seizure, levy or taking in execution, or if any of the debtor's property has been sold by the executing officer, or if the execution or other process has been held by the executing officer for a period of fifteen days after written demand for payment without seizure, levy or taking in execution or satisfaction by payment, or if it is returned endorsed to the effect that the executing officer can find no property on which to levy or to seize or take, but if interpleader or opposition proceedings have been instituted with respect to the property seized, the time elapsing between the date at which the proceedings were instituted and the date at which the proceedings are finally disposed of, settled or abandoned shall not be taken into account in calculating the period of fifteen days;

Federal Law-Civil Law Harmonization Act, No. 2, S.C. 2004, c. 25, s. 27(3).