I-3 - Taxation Act

Section 788 Disposition versions

2006-03-01

788. The condition contemplated in section 787 shall be fulfilled if:

(a)  it is provided for in the statute under which the taxpayer was incorporated or registered, its charter, articles of association or by-laws or contract with the customer, that amounts might be credited to the customer who is a member or non-member as a patronage dividend;

(b)  the taxpayer has held forth that prospect to customers who are members or non-members by an advertisement in a form satisfactory to the Minister and published before the beginning of the year or before any other date prescribed for his kind of business, in one or more newspapers in general circulation in the greater part of the area where the taxpayer carries on business.

The taxpayer must send the Minister copies of such newspapers within the first 30 days of the taxation year or within the 30 days following the prescribed date.

1972, c. 23, s. 597; 1997, c. 3, s. 71; 2001, c. 53, s. 164.