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I-3 - Taxation Act

Section 965.11.12
Disposition versions

Full text
965.11.12. (Repealed).
1988, c. 4, s. 104; 1997, c. 3, s. 71; 2017, c. 29, s. 166.
965.11.12. A share to which section 965.11.11 refers is
(a)  a share that is a fractional share;
(b)  a share that can, under the conditions pertaining to its issue, be redeemed by the issuing corporation or purchased by anyone, directly or indirectly, in any manner whatever, and that was not received as part of a large distribution of surplus made after 16 December 1986 or, as a result of a transaction referred to in section 301, 536, 541 or 544 in respect of a share meeting, at the time of its issue, the requirement of paragraph c of section 965.7 or in respect of a share substituted for such a share;
(c)  a share purchased or redeemed to meet the requirements of an Act or the regulations governing a sector of activities;
(d)  a share issued with a stipulation that it could be included in a stock savings plan or a share belonging to a class of shares some of which were issued with such a stipulation and that is purchased or redeemed by virtue of an obligation stated in the articles of a corporation before 7 May 1986; or
(e)  a share not described in paragraphs a to d and purchased or redeemed by virtue of an obligation stated in the articles of a corporation before 17 December 1986.
1988, c. 4, s. 104; 1997, c. 3, s. 71.
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