I-3 - Taxation Act

Section 1140 Disposition versions

2006-03-01

1140. In this Part, the paid-up capital of a bank, other than an authorized foreign bank, includes

(a)  the paid-up capital stock;

(b)  the general reserve and the other reserves and provisions, except those for amortization or depletion, those that are permitted by Part I to the extent that they were deducted in computing income under that Part and those for losses, in respect of a contract of lease or of leasing, that a bank carrying on lease or leasing activities cannot deduct in computing its income under that Part;

(b.1)  the future tax liabilities;

(c)  the surpluses and the undivided profits;

(d)  long-term debt.

1972, c. 23, s. 853; 1979, c. 38, s. 27; 1980, c. 13, s. 113; 1984, c. 35, s. 33; 1991, c. 8, s. 100; 1995, c. 63, s. 247; 2000, c. 39, s. 255; 2002, c. 40, s. 316; 2004, c. 8, s. 207.