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C-38 - Companies Act

Section 123.167
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123.167. Directors may, for the purposes of sections 123.52 to 123.56, 123.63, 123.66, 123.70 and 123.116 evaluate the assets of a company in relation to the value of the realization on its assets rather than in relation to its book value.
It is not necessary to provide for an allowance for the depletion of assets that depreciate following operation.
1980, c. 28, s. 14.
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