Does the word "ou" in Italian mean "or" or "ou"?

Canada (Federal), Canada

The following excerpt is from Russell v. The Queen, 2001 CanLII 423 (TCC):

I do not find in the French version any particular clarification. Presumably the word "ou" is susceptible of the same disjunctive/conjunctive interpretation as "or" depending on the context. (Marzetti v. Marzetti (Bankrupt) 1994 CanLII 50 (SCC), [1994] 2 S.C.R. 765).

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