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filed August 3, 2021 under Financial Administration Act, R.S.O. 1990, c. F.12

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ontario regulation 553/21

made under the

Financial Administration Act

Made: June 1, 2021
Approved: July 29, 2021
Filed: August 3, 2021
Published on e-Laws: August 3, 2021
Printed in The Ontario Gazette: August 21, 2021

Newly Recognized Liabilities

Asset retirement obligations

1. (1) For the purposes of section 11.9 of the Act,

(a) asset retirement obligations are prescribed as newly recognized liabilities; and

(b) April 1, 2022 is prescribed as the corresponding recognition date for those liabilities.

(2) In this section, “asset retirement obligations” means legal obligations associated with the retirement of a tangible capital asset resulting from its acquisition, construction, development or normal use.


2. This Regulation comes into force on April 1, 2022.

Made by:
Pris par :

Treasury Board:
le Conseil du Trésor :

Peter Bethlenfalvy

Minister of Finance and President of the Treasury Board /
Ministre des Finances et Président de la Conseil du Trésor




Kevin French

Deputy Minister and Secretary of Treasury Board Secretariat /
sous-ministre et secrétaire du Conseil du Trésor

Date made: June 1, 2021
Pris le : 1er juin 2021