• 13. (1) If gross revenues from a person’s sales cannot reasonably be determined in accordance with subsection 9(2) or 9.2(2) or section 11, the gross revenues

  • (a) shall equal the amount of the gross revenues as stated in the books of the person with such adjustments as may be necessary to ensure that the determination is in accordance with the accounting principles referred to in paragraph 3(a); and

  • (b) shall be determined for the most recent annual period for which the amount can reasonably be determined provided that the last day of that period is within three months prior to the reference date.

• (2) The determination of the gross revenues from sales referred to in subsection (1) is subject to the requirements of section 5.

• 14. (1) If, subsequent to the day or date referred to in section 6 or 12 or the annual period referred to in section 7 or 13, as the case may be, any party to a proposed transaction or any affiliate of that party was a party to or was otherwise affected by a transaction or event the consequences of which, if taken into account, would affect the determination of whether notification is required to be given under section 114 of the Act with respect to the proposed transaction, the values or amounts referred to in sections 8 to 13 shall be adjusted to reflect that transaction or event.

• (2) A transaction or event referred to in subsection (1) includes any of the following:

  • (a) a write-down or re-evaluation for financial reporting purposes of the value of any assets of the parties to the proposed transaction or their affiliates;

  • (b) any disposition, acquisition or reorganization that is likely to have a material effect on the aggregate value of the assets of the parties to the proposed transaction or their affiliates; and

  • (c) any agreement, arrangement, understanding or other transaction or event that is likely to have a material effect on the aggregate value of the assets or gross revenues from sales of the parties to the proposed transaction or their affiliates.

14.1 [Repealed, SOR/2010-22, s. 8]

• 15. (1) A transaction that is an acquisition of financial assets that is undertaken to give effect to an asset securitization transaction is exempt from the application of Part IX of the Act.

• (2) A transaction that is an acquisition of assets other than financial assets that is undertaken to give effect to an asset securitization transaction is exempt from the application of Part IX of the Act, unless any person would, as a result of the transaction or transactions, acquire all or substantially all of the assets, other than financial assets, of a business or an operating segment of a business carried on by the person disposing of the assets.