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C-38 - Companies Act

Section 123.121
Disposition versions

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123.121. The directors of the amalgamated companies who authorize the amalgamation in contravention of section 123.116 are solidarily liable to pay to the company resulting from the amalgamation an amount equal to the amount by which the sum of its liabilities and its issued and paid-up share capital account exceeds the book value of its assets.
1980, c. 28, s. 14.
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