34. Protected Property

determining the debtor’s eligibility for a Debt

establishing terms of a Debt Restructuring

determining the composition of the Bankruptcy

shall not form part of the Bankruptcy Estate under section 115;

shall not constitute after-acquired property under section 117; and

shall be excluded from the calculation of available property under section 46.

the debtor’s necessary household furniture and effects, including clothing, for the debtor and the debtor’s relatives and dependants;

the debtor’s necessary tools of trade, business, and agriculture;

where the debtor is engaged in agriculture, such quantity of agricultural land as may be necessary for providing for the needs in support of the debtor and his or her dependants;

professional instruments and library necessary for the carrying on of the debtor’s profession or business, of such value as may be prescribed;

books of accounts;

mere rights to sue for damages;

any right of personal service;

any expectancy of succession by survivorship or other merely contingent or possible right of interest;

a right to future maintenance and all maintenance, alimony and costs ordered in matrimonial suits or maintenance actions;

any house or other dwelling, together with such extent of land appurtenant thereto as the court may consider necessary for its enjoyment, which is not mortgaged as security for the payment of the whole or part of the sum claimed in a personal insolvency procedure which —

is the actual residence of the debtor at the time of the procedure; and

has been such residence from the time of the initiation of the procedure;

the amount lying to the credit of an employee’s individual account, any other provident fund, employee trust fund or pension established for the benefit of employees in any employment, to the extent specified in section 35;

the debtor’s tenancy under a short-term residential rental accommodation agreement;

property held by a debtor on trust for any other person; and

such other categories of property as may be prescribed.

the interest of the secured creditor in the house or dwelling is limited to the amount of indebtedness outstanding in favour of the secured creditor; and

any remaining interest of the debtor in the house or dwelling, where the value of the house or dwelling exceeds the amount of indebtedness outstanding in favour of the secured creditor, shall constitute protected property.

the agreement or the supply would terminate, or any other thing would take place; or

the supplier would be entitled to terminate the agreement or the supply, or to do any other thing, due to the commencement of the personal insolvency procedure.