I-3 - Taxation Act

Section 965.6.15 Disposition versions

2017-12-07

965.6.15. (Repealed).

1987, c. 21, s. 47; 1988, c. 4, s. 89; 2017, c. 29, s. 166.

2006-03-01

965.6.15. Every stock ownership plan shall provide eligible employees with means for financing the acquisition of qualifying shares under the plan, as provided for in section 965.6.16, which shall be identical for all eligible employees, up to the amount of the acquisition.

Where the acquisition of qualifying shares may be made on a continuous basis at least once a year during the term of the plan, the plan may, instead of providing eligible employees with means of financing, or in addition thereto, according to the terms and conditions prescribed in section 965.6.17 and identical for all eligible employees, provide them with means to accumulate, by way of at-source deductions, the necessary savings for the acquisition of the qualifying shares they may acquire under the plan, up to the amount of the acquisition.

For the purposes of the first paragraph, the amount of financing provided may be less than the amount of the acquisition, to such extent as it is limited by a provision of an Act or as it is provided to complete the amount accumulated by means of at-source deductions for the acquisition of qualifying shares.

1987, c. 21, s. 47; 1988, c. 4, s. 89.