Gas Pipeline Uniform Accounting Regulations

79 (1) [Revoked, SOR/86-998, s. 26]

(2) The par value of securities or the total value of other obligations for which a company with other parties is jointly and severally liable shall be stated as a liability only in the amount that was not primarily assumed by the other parties under the terms of the agreement by which the company and the other parties become jointly and severally liable.

(3) The amount by which the value referred to in subsection (2) exceeds the liability stated or subsequently established according to the agreement shall be shown as a contingent liability.