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94(1)  Government investment in a company is written off if any of the following occurs in relation to the company.

This is subject to subsection (2).

Case 1

The company's liability to repay any money lent to it out of public funds by a Minister is extinguished.

In this case the written-off amount is the amount of the liability extinguished and the write-off occurs when the liability is extinguished.

Case 2

Any of the company's shares for which a Minister has subscribed out of public funds are cancelled.

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