I-3 - Taxation Act

Section 1129.12.2 Disposition versions

2017-12-07

1129.12.2. (Repealed).

1997, c. 85, s. 303; 1999, c. 83, s. 273; 2017, c. 29, s. 214.

2006-03-01

1129.12.2. Where a particular corporation referred to in section 965.11.7.1 has issued a preferred share meeting the requirements set forth in paragraph b of section 965.9.1.0.4.2 or 965.9.1.0.5 that may be redeemed or repaid by the particular corporation or purchased by anyone in any manner whatever, under the conditions pertaining to its issue, and, before the date that is 1,825 days after the date of its issue, the share, referred to in this section as a “reference share”, or a replaced share, has not been either replaced by a share other than a replaced share, or redeemed or repaid by the particular corporation or, where the replaced share has been issued by another corporation, by the other corporation, or purchased by anyone in any manner whatever, the particular corporation, or the other corporation, as the case may be, shall pay, in respect of the reference share or the replaced share, as the case may be, except in the case provided for in section 1129.12.5, a tax equal to the amount determined under section 1129.12.3 in respect of the reference share or replaced share, for its taxation year in which the date that is 1,825 days after the date of issue of the reference share occurs.

1997, c. 85, s. 303; 1999, c. 83, s. 273.