I-3 - Taxation Act

Section 1175.34 Disposition versions

2006-03-01

1175.34. Despite section 1175.32, if an operator is associated, within the meaning of sections 21.20 to 21.25 and 781.1, with another operator in a fiscal period that ends in a particular calendar year, the amount of $750,000,000 provided for in section 1175.32, in relation to that fiscal period, must be replaced, wherever it appears, by the greater of $0 and the portion of that amount that is allocated to the operator for that fiscal period in accordance with the agreement under which all the operators that are associated with each other in their fiscal period that ends in the particular calendar year allocate, for the purposes of this Part, in prescribed form, an amount to one or more of them for the fiscal period.

The aggregate of the amounts allocated for a fiscal period under the first paragraph may not exceed $750,000,000.

If the operators that are associated with each other do not make the allocation provided for in the first paragraph in relation to a fiscal period or if the aggregate of the amounts allocated under the first paragraph, in relation to a fiscal period, exceeds $750,000,000, the amount of $750,000,000 provided for in section 1175.32, in relation to that fiscal period, must be replaced, wherever it appears, by the greater of $0 and the portion of that amount that the Minister allocates, for that fiscal period, to one or each of the operators so associated.

The aggregate of the amounts allocated by the Minister under the third paragraph, in relation to operators associated in a fiscal period, must be equal to $750,000,000.

2005, c. 23, s. 261.