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I-3 - Taxation Act

Section 979.3
Disposition versions

Full text
979.3. (Repealed).
1985, c. 25, s. 143; 2007, c. 12, s. 98.
979.3. Where a market-maker is an employee, he shall pay contributions into his reserve account for contingent losses by means of a withholding made by the clearing member from the amount paid to the employee, otherwise than as guaranteed remuneration, for his share of the profit made over a particular period.
The amount so withheld and paid into the account is deemed to be paid, for the purposes of this Part, by the clearing member to the market-maker at the time of the payment contemplated in the first paragraph and to be, simultaneously, received by the market-maker and paid by him into the account.
1985, c. 25, s. 143.
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