Important: This version of the e-Laws website will be upgraded to a new version in the coming weeks.
You can try the beta version of the new e-Laws at ontario.ca/laws-beta.
O. Reg. 553/21: NEWLY RECOGNIZED LIABILITIES
under Financial Administration Act, R.S.O. 1990, c. F.12
Skip to content| current | April 1, 2022 – (e-Laws currency date) |
| August 3, 2021 – March 31, 2022 |
Financial Administration Act
NEWLY RECOGNIZED LIABILITIES
Historical version for the period August 3, 2021 to March 31, 2022.
Note: THIS REGULATION IS NOT YET IN FORCE. It comes into force on April 1, 2022.
No amendments.
This is the English version of a bilingual regulation.
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. Omitted (provides for coming into force of provisions of this Regulation).