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I-3 - Taxation Act

Section 166
Disposition versions

Full text
166. A corporation shall not deduct an amount paid as interest or otherwise to the holders of its income bonds or income debentures unless they have been issued or their provisions in respect of interest have been adopted since 1930 to provide the debtor with assistance in meeting his financial difficulties and to replace or alter bonds or debentures which, at the end of 1930, were bearing a fixed unconditional rate of interest.
1972, c. 23, s. 154; 1997, c. 3, s. 71; 1997, c. 14, s. 46.
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