M-13 - Mining Act

Section 240.2 Disposition versions

1982-09-15

240.2. Any loss resulting from the application of Chapter III of the Mining Duties Act (chapter D-15) must be deducted from the profits made during the four years following the year in which the loss was incurred; such loss must first be deducted from all the profits made during the year nearest to the loss, before being applied in the same manner to the subsequent years; if the aggregate of the profits for the four years is less than the loss, the residual balance of the loss is not deducted.

1982, c. 27, s. 8.