I-3 - Taxation Act

Section 1129.12.3 Disposition versions

2017-12-07

1129.12.3. (Repealed).

1997, c. 85, s. 303; 1999, c. 83, s. 273; 2017, c. 29, s. 214.

2006-03-01

1129.12.3. The amount of the tax referred to in section 1129.12.2 in respect of a reference share or replaced share, as the case may be, is equal to the amount determined in its respect by the formula

(A × B × C) + (A × B × C × D × E).

For the purposes of the formula in the first paragraph,

(a)  A is 3%;

(b)  B is the fraction represented by the ratio between, on the one hand, the number of preferred shares meeting the requirements set forth in paragraph b of section 965.9.1.0.4.2 or 965.9.1.0.5 issued as part of the public share issue within the framework of which the reference share was issued, the custody of which has been entrusted to a dealer under a stock savings plan, which number must correspond to the fraction indicated to that effect by the particular corporation referred to in section 1129.12.2, in accordance with section 965.24.1.4, at the particular time referred to in the said section 1129.12.2 and, on the other hand, the total number of such preferred shares issued as part of the issue;

(c)  C is the par value of the reference share or, where section 1129.12.2 applies in respect of a replaced share issued as part of an issue of several replaced shares as a replacement for a reference share, the result obtained by dividing that par value by the number of such replaced shares so issued, referred to in this subparagraph as the “new par value”, or, where section 1129.12.2 applies in respect of a replaced share issued as part of an issue of several shares in substitution for such a share so issued, the result obtained by dividing the new par value by the number of such replaced shares so issued;

(d)  D is the rate calculated in accordance with section 1129.12.4 in respect of the public share issue as part of which the reference share was issued; and

(e)  E is the number of full calendar years included in the period beginning on 1 January in the year following that in which was granted the receipt for the final prospectus or the exemption from filing a prospectus pertaining to the public share issue as part of which the reference share was issued and ending on the date that is 1,825 days after the date of issue of the reference share.

1997, c. 85, s. 303; 1999, c. 83, s. 273.