Trust and Loan Companies Act
Marginal note:Reliance on statements
359 A liquidator is not liable if the liquidator relies in good faith on
(a) financial statements of the company represented to the liquidator by an officer of the company, or on a written report of the auditor of the company, to reflect fairly the financial condition of the company; or
(b) an opinion, a report or a statement of a lawyer, a notary, an accountant, an appraiser or other professional adviser retained by the liquidator.
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