C-38 - Companies Act

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123.56. In all other cases, a company may acquire fully paid-up shares it has issued, but in no case may it pay for the shares where 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 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.
123.56. Two copies, signed by one of the directors, of the articles confirming a compromise or arrangement shall be filed with the Director.
1979, c. 31, s. 27.