O. Reg. 144/01: ASSETS AND LIABILITIES

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City of Hamilton Act, 1999

ONTARIO REGULATION 144/01

ASSETS AND LIABILITIES

Consolidation Period: From May 9, 2001 to the e-Laws currency date.

No amendments.

This is the English version of a bilingual regulation.

Assets

1. The assets referred to in section 13 of the Act are assets which on December 31, 2000 were,

(a) reserves and reserve funds;

(b) revenue fund surplus;

(c) the present value of projected royalties receivable with respect to an aggregate pit or quarry;

(d) the present value of projected payments receivable with respect to the revenue from the operation of a casino, a charity casino or other gaming premises, all as defined in the Ontario Lottery and Gaming Corporation Act, 1999. O. Reg. 144/01, s. 1.

Liabilities

2. The liabilities referred to in section 13 of the Act are liabilities which on December 31, 2000 were,

(a) debts, including debentures and short-term and temporary borrowing;

(b) revenue fund deficit;

(c) post-employment benefits, including pension obligations, severance allowances and vested sick leave;

(d) accrued liabilities, including obligations incurred as a Schedule 2 employer under the Workplace Safety and Insurance Act, 1997, that are not recorded as an expenditure;

(e) long-term obligations and lease commitments. O. Reg. 144/01, s. 2.

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