I-3 - Taxation Act

Section 427.5 Disposition versions

2006-03-01

427.5. Where there has been an amalgamation or merger of a corporation with one or more other corporations to form one corporate entity, in this section referred to as the “new corporation”, each property of the corporation that became property of the new corporation as a result of the amalgamation or merger is deemed, for the purpose of determining whether section 427.4 is applicable in respect of the amalgamation or merger, to have been disposed of by the corporation immediately before the amalgamation or merger for proceeds of disposition equal to

(a)  in the case of a Canadian resource property or a foreign resource property, nil;

(b)  (paragraph repealed);

(c)  in the case of any other property, the cost amount to the corporation of the property immediately before the amalgamation or merger.

1989, c. 77, s. 51; 1990, c. 59, s. 169; 1994, c. 22, s. 158; 1997, c. 3, s. 25.