The procedure for liquidating a corporation is outlined in:

A) The Bankruptcy and Insolvency Act.
B) The BNA Act.
C) The Canadian Constitution.
D) The Corporation Liquidation Act.
E) The Small Business Reform Act.

Liquidating Corporation

A process wherein a company sells its assets, pays off creditors, and distributes any remaining assets to shareholders, effectively dissolving the company.

Bankruptcy and Insolvency Act

Legislation that provides the legal framework for the resolution of financial distress and insolvency situations, including the reorganization or liquidation of debtor assets.