Nova Scotia Bankruptcy Exemptions are:

* Necessary wearing apparel, household furnishings and furniture;

* Necessary fuel and food;

* Necessary grain, seeds, cattle, hogs, fowl, sheep and other livestock;

* Necessary medical and health aids;

* Farm equipment, fishing nets, tools and implements used in debtor's chief occupation, not exceeding $1,000;

* Household goods not exceeding $5,000;

* Motor vehicle not exceeding $3,000;

* Motor vehicle if required for work or business not exceeding $6,500;

* Exemptions are in effect for all registered retirement savings plans (RRSP's, RRIF's and DPSP's (Deferred Profit Sharing Plans).

Contributions made in the 12 months prior to the date of bankruptcy will be recovered (clawed back) for the benefit of the bankruptcy estate.

* NOTE: Pursuant to the PPSA of NS, A debtor may claim the following items of COLLATERAL to be exempt from seizure BY A SECURED PARTY:
1 motor vehicle not exceeding $6,500 IF the motor vehicle is required for work/to retain employment AND IF the secured creditor does not have a PMSI on the asset (in other words, they took collateral on the asset but did not originally advance the funds to the debtor for the purchase of the asset).
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