I-3 - Taxation Act

Section 308.3 Disposition versions

2006-03-01

308.3. In addition, section 308.1 does not apply if the dividend was received by a corporation

(a)  in the course of a reorganization in which a distributing corporation made a distribution to one or more transferee corporations and in which either the distributing corporation was wound up or all of the shares of its capital stock owned by each transferee corporation immediately before the distribution were redeemed or cancelled otherwise than on an exchange to which any of sections 301, 518 and 541 to 543 applies; and

(b)  on a permitted redemption in relation to the distribution referred to in paragraph a or on the winding-up of the distributing corporation.

1982, c. 5, s. 66; 1984, c. 15, s. 70; 1985, c. 25, s. 55; 1986, c. 15, s. 58; 1996, c. 39, s. 98; 1997, c. 3, s. 71; 2000, c. 5, s. 77.