I-3, r. 1 - Regulation respecting the Taxation Act

Section 359.1r5 Disposition versions

2016-02-17

359.1R5. For the purposes of sections 359.1R3 and 359.1R3.1, the following rules apply:

(a)  the dividend entitlement of a share of the capital stock of a corporation is deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all dividends on the share are determined solely by reference to a multiple or fraction of the dividend entitlement of another share of the capital stock of the corporation, or of a share of the capital stock of another corporation that controls the corporation, where the dividend entitlement of that other share is not described in subparagraph i of paragraph a of section 359.1R3; and

(b)  the liquidation entitlement of a share of the capital stock of a corporation, or of a right to acquire such a share, as the case may be, is deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all the liquidation entitlement is determinable solely by reference to

(1)  the liquidation entitlement of another share of the capital stock of the corporation, or a share of the capital stock of another corporation that controls the corporation, where the liquidation entitlement is not described in subparagraph ii of paragraph a of section 359.1R3; or

(2)  the liquidation entitlement of a right to acquire the capital stock of the corporation or of another corporation that controls the corporation, where the liquidation entitlement is not described in paragraph a of section  359.1R3.1.

s. 359.1R5; O.C. 91-94, s. 11; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1; O.C. 66-2016, s. 13.

2012-09-01

359.1R5. For the purposes of section 359.1R3, the following rules apply:

(a)  the dividend entitlement of a share of the capital stock of a corporation is deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all dividends on the share are determined solely by reference to a multiple or fraction of the dividend entitlement of another share of the capital stock of the corporation, or of another corporation that controls the corporation, where the dividend entitlement of that other share is not described in subparagraph i of paragraph a of section 359.1R3; and

(b)  the liquidation entitlement of a share of the capital stock of a corporation is deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all the liquidation entitlement is determinable solely by reference to the liquidation entitlement of another share of the capital stock of the corporation, or of another corporation that controls the corporation, where the liquidation entitlement of that other share is not described in subparagraph ii of paragraph a of section 359.1R3.

s. 359.1R5; O.C. 91-94, s. 11; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1.