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

Section 1086r24 Disposition versions

2019-06-19

1086R24. The corporation governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1) must file, in relation to a particular taxation year, an information return in prescribed form in respect of

(a)  a class “A” share of its capital stock that it issues to an individual in the period referred to in the first paragraph of section 776.1.5.0.11 of the Act in relation to the particular year, except where, as the case may be,

i.  the individual requested that the share be subject to a redemption transaction described in subparagraph a of the third paragraph, or

ii.  before 1 March of the year that follows the particular year, the corporation, at the request of the individual and in relation to another share of its capital stock held by the individual, carried out a redemption transaction described in subparagraph b of the third paragraph or a purchase transaction described in subparagraph c of that paragraph;

(b)  a consideration that an individual has undertaken to pay under a promise to purchase by way of exchange that was made at a particular time in the period referred to in the first paragraph of section 776.1.5.0.15.2 of the Act in relation to the particular year and that the corporation accepted after 9 July 2018 and before 19 June 2019, except where, before 1 March of the year that follows the particular year, the corporation, at the request of the individual and in relation to a share of its capital stock held by the individual, carried out a redemption transaction described in subparagraph b of the third paragraph or a purchase transaction described in subparagraph c of that paragraph; and

(c)  a class “B” share of its capital stock that it issues to an individual in the period referred to in the first paragraph of section 776.1.5.0.15.4 of the Act in relation to the particular year, except where, as the case may be,

i.  that share was issued as a consequence of a promise to purchase by way of exchange,

ii.  the individual requested that the share be subject to a redemption transaction described in subparagraph a of the third paragraph, or

iii.  before 1 March of the year that follows the particular year, the corporation, at the request of the individual and in relation to another share of its capital stock held by the individual, carried out a redemption transaction described in subparagraph b of the third paragraph or a purchase transaction described in subparagraph c of that paragraph.

The return must be sent to the Minister not later than 31 March following the end of the period referred to in subparagraph a, b or c of the first paragraph, as the case may be.

The redemption or purchase transactions to which subparagraphs a to c of the first paragraph refer are the following:

(a)  a redemption under paragraph 3 of section 12 of the Act constituting Capital régional et coopératif Desjardins;

(b)  a redemption under paragraph 1 or 4 of section 12 of the Act constituting Capital régional et coopératif Desjardins; and

(c)  a purchase under the purchase by agreement policy approved by the Minister of Finance under the second paragraph of section 11 of the Act constituting Capital régional et coopératif Desjardins, except where the purchase is made in accordance with a provision of that policy under which the corporation governed by that Act may, by agreement, purchase a share that it issued because no amount was deducted in respect of the share under any of sections 776.1.5.0.11, 776.1.5.0.15.2 and 776.1.5.0.15.4 of the Act, as the case may be.

In this section, “promise to purchase by way of exchange” has the meaning assigned by section 8.1 of the Act constituting Capital régional et coopératif Desjardins.

s. 1086R8.1.6.1; O.C. 1282-2003, s. 74; O.C. 134-2009, s. 1; S.Q. 2019, c. 14, s. 655.

2012-09-01

1086R24. The corporation governed by the Act constituting Capital régional et coopératif Desjardins (chapter C-6.1) must file, in relation to a particular taxation year, an information return in prescribed form in respect of a share of the capital stock that it issues to an individual in the period referred to in the first paragraph of section 776.1.5.0.11 of the Act in relation to the particular year, except where

(a)  during that period or within the 30 days that follow, the individual requests the redemption of the share in accordance with paragraph 3 of section 12 of the Act constituting Capital régional et coopératif Desjardins; or

(b)  the corporation governed by the Act constituting Capital régional et coopératif Desjardins, at the request of the individual and before 1 March of the year that follows the particular year, in relation to another share of the capital stock of the corporation,

i.  redeems the share in accordance with paragraph 1 or 4 of section 12 of that Act, or

ii.  purchases the share in accordance with the purchase by agreement policy approved by the Minister of Finance under the second paragraph of section 11 of that Act, except where the purchase is made in accordance with a provision of that policy under which the corporation may, by agreement, purchase a share that it issued because no amount was deducted in respect of the share under section 776.1.5.0.11 of the Act.

The return must be sent to the Minister not later than

(a)  where the share is issued in January or February of a calendar year, 31 March of the calendar year; or

(b)  in all other cases, 31 March of the calendar year following the year in which the share is issued.

s. 1086R8.1.6.1; O.C. 1282-2003, s. 74; O.C. 134-2009, s. 1.