Acts and Regulations

W-13 - Workers’ Compensation Act

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Liability on bulk sales
72.3(1)In the case of a sale of an industry to which this Act applies or the stock or equipment in bulk used in connection with that industry, the purchaser shall demand of the vendor and the vendor shall deliver to the purchaser, before the purchaser pays any of the purchase price for the industry, stock or equipment, a certificate from the Commission stating that it has no claim against the vendor of the industry, stock or equipment.
72.3(2)If the vendor fails to provide the certificate, the purchaser is liable to the Commission for an amount equal to the amount due from the vendor to the Commission, up to an amount equal to the fair market value of the industry, stock or equipment.
2001, c.36, s.13