D-17 - Land Transfer Duties Act

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42. There shall be an exemption from the payment of duties in the case of a transfer between closely related corporations provided that the application for registration of the transfer mentions the fact that the transferor and the transferee are closely related corporations.
For the purposes of the first paragraph, a particular corporation and another corporation are closely related to each other at any time if the other corporation is a corporation not less than 90% of the issued shares of the capital stock having full voting rights of which are owned
(a)  by the particular corporation;
(b)  by a qualifying subsidiary of the particular corporation;
(c)  by a corporation of which the particular corporation is a qualifying subsidiary;
(d)  by a qualifying subsidiary of a corporation of which the particular corporation is a qualifying subsidiary; or
(e)  any combination of the corporations or subsidiaries referred to in subparagraph a to d.
For the purposes of the second paragraph, qualifying subsidiary of a particular corporation means another corporation not less than 90% of the issued shares of the capital stock having full voting rights of which are owned by the particular corporation.
1976, c. 23, s. 42; 1988, c. 4, s. 3; 1994, c. 22, s. 18; 1997, c. 14, s. 2.
42. (1)  There shall be an exemption from the payment of duties in the following cases, provided the application for registration of the transfer mentions the fact that:
(a)  the transferee is the parent corporation of the transferor, a subsidiary of the transferor or a subsidiary of a corporation which is itself a subsidiary of the transferor;
(b)  the transferor is a subsidiary of a corporation which is a subsidiary of the transferee;
(c)  the transferor and the transferee are both subsidiaries of the same parent corporation or subsidiaries of corporations that are subsidiaries of the same parent corporation; or
(d)  the transferor is a subsidiary of a parent corporation while the transferee is a subsidiary of a corporation which is a subsidiary of that parent corporation or the transferor is a subsidiary of a corporation which is a subsidiary of a parent corporation while the transferee is a subsidiary of that parent corporation.
(2)  For the purposes of subsection 1, a corporation is a subsidiary, at a given time, of another corporation, hereinafter called parent corporation , when at least 90 % of the issued shares to which are attached full voting rights of its capital stock are owned by such other corporation.
1976, c. 23, s. 42; 1988, c. 4, s. 3; 1994, c. 22, s. 18.
42. (1)  There shall be an exemption from the payment of duties in the following cases, provided the deed of transfer mentions the fact that:
(a)  the transferee is the parent corporation of the transferor, a subsidiary of the transferor or a subsidiary of a corporation which is itself a subsidiary of the transferor;
(b)  the transferor is a subsidiary of a corporation which is a subsidiary of the transferee;
(c)  the transferor and the transferee are both subsidiaries of the same parent corporation or subsidiaries of corporations that are subsidiaries of the same parent corporation; or
(d)  the transferor is a subsidiary of a parent corporation while the transferee is a subsidiary of a corporation which is a subsidiary of that parent corporation or the transferor is a subsidiary of a corporation which is a subsidiary of a parent corporation while the transferee is a subsidiary of that parent corporation.
(2)  For the purposes of subsection 1, a corporation is a subsidiary, at a given time, of another corporation, hereinafter called parent corporation , when at least 90 % of the issued shares to which are attached full voting rights of its capital stock are owned by such other corporation.
1976, c. 23, s. 42; 1988, c. 4, s. 3.
42. (1)  There shall be an exemption from the payment of duties in the following cases, provided the deed of transfer mentions the fact that:
(a)  the transferee is the parent corporation of the transferor, a subsidiary of the transferor or a subsidiary of a corporation which is itself a subsidiary of the transferor;
(b)  the transferor is a subsidiary of a corporation which is a subsidiary of the transferee; or
(c)  the transferor and the transferee are both subsidiaries of the same parent corporation or subsidiaries of one or more corporations that is or are, as the case may be, subsidiaries of the same parent corporation.
(2)  For the purposes of subsection 1, a corporation is a subsidiary, at a given time, of another corporation, hereinafter called parent corporation , when at least 90 per cent of the issued shares to which are attached full voting rights of its capital stock are owned by such other corporation.
1976, c. 23, s. 42.