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

Section 1015r37 Disposition versions

2012-09-01

1015R37. For the purposes of section 1015R36, where a particular employer that is a corporation acquires, during a taxation year of the corporation ending during a particular calendar year, in any of the circumstances described in the second paragraph, all or substantially all of the property of another employer used by it in a business, that other employer is deemed to be a corporation that is associated with the particular employer in the taxation year and in each of the taxation years ending at any time during the 2 subsequent calendar years.

The first paragraph applies where the particular employer acquires all or substantially all of the property of the other employer

(a)  in a transaction in respect of which an election referred to in section 518 or 529 of the Act was made;

(b)  by reason of an amalgamation within the meaning of section 544 of the Act; or

(c)  as the result of a winding-up to which the rules provided for in Chapter VII of Title IX of Book III of Part I of the Act apply.

s. 1015R14.6; O.C. 473-95, s. 34; O.C. 1707-97, s. 98; O.C. 1466-98, s. 96; O.C. 134-2009, s. 1.