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

Section 92.11r7 Disposition versions

2019-06-19

92.11R7. For the purposes of section 92.11R6, in respect of a life insurance policy issued before 1 January 2017 or an annuity contract, where the interest rate that a life insurer used for a period, when computing the amounts referred to in subparagraph a or b of the first paragraph of section 92.11R12.3, is determined in accordance with any of subparagraphs a to c of the second paragraph of that section and that rate is lower than the interest rate so determined for a subsequent period, the rate that is required to be used is the simple rate that, if it applied to each period, could be used in determining the premiums in respect of the policy.

s. 92.11R1.0.5; O.C. 67-96, s. 10; O.C. 134-2009, s. 1; S.Q. 2019, c. 14, s. 624.

2012-09-01

92.11R7. For the purposes of section 92.11R6, where the interest rate that a life insurer used for a period, when computing an amended net premium or the amount that it may deduct for a taxation year under section 840R22, is determined in accordance with any of paragraphs a to c of section 840R23 and that rate is lower than the rate of interest so fixed for a subsequent period, the rate that is required to be used is the simple rate that, if it applied to each period, could be used to fix premiums for the policy.

s. 92.11R1.0.5; O.C. 67-96, s. 10; O.C. 134-2009, s. 1.