I'm to lazy to provide a link to the written law, but, I'll tell you what it says in the Firearms Act, which is where the knife laws are in the criminal code.
-The is no grandfathering or collector status for any prohibited knife.
-Switchblades, knives which open automatically with the press of a button (or other such thing) on the handle are prohibited.
-Gravity knives (which are a very specific thing), are prohibited.
-Push daggers are prohib.
-Knives with an integrated handguard are prohib. (despite the fact that any French Epee has one, and is readily available in Canada)
-Knives which open under "centrifugal force" are prohibited. That means Any knife that can be flung open when holding the handle but not exerting any force on the blade, other than inertia.
-Balisongs are widely believed to be prohibited by name, but they are not. The Canada Customs regulations quotes the FA and parenthesizes balisongs, but that is pure editorialism. Policy is not law.
The reason that balisongs are prohibited is because they open with "centrifugal force", and that's the only reason. Just look at the Cold Steel Paradox. It's a balisong that can't be opened by CF. Totally legal in Canada. So, if you have a balisong that won't swing open, it's legal under the CC.
Of course, this defeats the purpose of having fun flipping a balisong.
I suggest you get your hands on a Balisong trainer, a legal flipper, and not a knife.