E-16 - Real Estate Assessment Act

Section 97.1 Disposition versions

1978-12-22

97.1. Where a corporation contemplated in section 97 ceases to exist owing to an amalgamation, within the meaning of section 544 of the Taxation Act, before paying the tax for which it is debtor under the said section 97, the obligations binding on the corporation that ceases to exist are binding on the corporation resulting from the amalgamation.

Where a corporation contemplated in section 97 ceases to exist for any other reason, before paying the tax, the obligations binding on the corporation are binding on its directors jointly and severally, in office at the time when it ceases to exist.

1978, c. 59, s. 10.

The replacement of section 97 of this act by sections 97 and 97.1 enacted by section 10 of chapter 59 of the statutes of 1978 applies in respect of the tax provided for by section 97 of this act as a real estate tax for a municipal fiscal year commencing after 1978. (1978, c. 59, s. 21).