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C-38 - Companies Act

Section 123.116
Disposition versions

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123.116. In no case may companies amalgamate, however, if there is reasonable ground to believe that, as a consequence,
(1)  the company resulting from the amalgamation could not discharge its liabilities when due, or
(2)  the book value of the assets of the company resulting from the amalgamation would be less than the sum of its liabilities and its issued and paid-up share capital account.
1980, c. 28, s. 14.
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