C-38 - Companies Act

Section 123.63 Disposition versions

1981-02-16

123.63. A company may in no case reduce the amount of its issued share capital if there is reasonable ground to believe that, as a consequence,

(1)  it could not discharge its liabilities when due, or

(2)  the book value of its assets would, after the reduction, be less than the sum of its liabilities and its issued and paid-up share capital account.

1979, c. 31, s. 27; 1980, c. 28, s. 14.

1980-01-30

123.63. The company resulting from the amalgamation exists from the date shown on the certificate attesting the amalgamation; it also has the rights and is bound by the obligations of each company so amalgamated.

This Part applies to the company resulting from the amalgamation.

1979, c. 31, s. 27.