Nunavut Mining Regulations — 70
 paragraphs, for the processing of all minerals or processed minerals at the mine; (c) the undeducted balance of costs eligible for the mine’s development allowance at the end of the fiscal year must be adjusted to exclude an amount equal to the costs referred to in subparagraph (1)(i)(ii) multiplied by the ratio of the costs incurred under paragraphs (1)(a) to (f) during that fiscal year and all prior fiscal years for the production of minerals or processed minerals from lands other than lands to which these Regulations apply to the total costs incurred under those paragraphs during that fiscal year and all prior fiscal years for the production of all minerals or processed minerals at the mine; (d) the undeducted balance of costs eligible for the mine’s development allowance at the end of the fiscal year must be adjusted to exclude an amount equal to the costs of the workings referred to in subparagraph (1)(i)(iv) used in the production of minerals or processed minerals from lands other than lands to which these Regulations apply multiplied by the ratio of the costs incurred under paragraphs (1)(c) to (f) during that fiscal year and all prior fiscal years for the use of those workings in the production of minerals or processed minerals from lands other than lands to which these Regulations apply to the total costs incurred under those paragraphs during that fiscal year and all prior fiscal years for the use of those workings in the production of all minerals or processed minerals at the mine; and (e) the undeducted balance of the original cost of the mine’s depreciable assets at the end of the fiscal year must be adjusted to exclude an amount equal to the original cost of the depreciable assets used in the production or processing of minerals or processed minerals produced from lands other than lands to which these Regulations apply multiplied by the ratio of the costs incurred under paragraphs (1)(a) to (f) during that fiscal year and all prior fiscal years for the use of those assets for the production or processing of minerals or processed minerals produced from lands other than lands to which these Regulations apply to the total costs incurred under those paragraphs during that fiscal year and all prior fiscal years for the use of those assets for the production or processing of all minerals or processed minerals produced at the mine. Timing and other requirements respecting adjustments (10) The adjustments referred to in paragraphs (8)(d) and (9)(c) to (e) must each be calculated at the end of each fiscal year of the mine with the difference between the amount calculated for that fiscal year and the amount calculated for the previous fiscal year being added to or subtracted from the undeducted balance of the depreciable assets or the undeducted balance of the costs eligible for the development allowance, as the case may be. Limitations on deductions and allowances (11) Despite any other subsection of this section, no deduction or allowance can be made in respect of a mine in relation to (a) the capital cost of the depreciable assets, other than those subject to the depreciation allowance under paragraph (1)(h); (b) depletion in the value of the mine or mining property by reason of exhaustion of the minerals; (c) if an owner or the operator of the mine is a corporation, (i) remuneration and travel costs of directors, (ii) stock transfer agents’ fees, (iii) shareholders’ meetings or the preparation of shareholders’ reports, and (iv) legal, accounting and other costs incurred in connection with incorporations, reorganizations, financing or security or stock issues; (d) interest on any debt, including an overdraft, loan, mortgage, advance, debenture or bond, that is capitalized or expensed for accounting purposes; (e) remuneration of executive officers, administrative and consulting costs and costs in respect of offices not located at the mine site, unless that remuneration or those costs are directly related to operations o