I-3 - Taxation Act

Section 776.9.1 Disposition versions

2006-03-01

776.9.1. For the purposes of this Title and of Title V.1, where a qualifying security described in subparagraph i or ii of paragraph a of section 776.7 of a public corporation is lawfully distributed to the public in accordance with a prospectus, registration statement or similar document filed with a public body in Canada pursuant to and in accordance with the law of Canada or of any province, and, where required by law, accepted for filing by such public body and where the corporation if it has designated an amount under section 776.10 in respect of the qualifying security, the corporation may, in the return prescribed for the purposes of that section 776.10, elect that the first person, other than a broker or dealer in securities acting as an intermediary, to have acquired the qualifying security shall be considered to be the first holder of a qualifying security and, in such a case, no other person may then be considered the first holder thereof.

1986, c. 15, s. 125; 1997, c. 3, s. 71; 2001, c. 53, s. 146.