I-3 - Taxation Act

Section 710.2.4 Disposition versions

2006-04-19

710.2.4. Where the Minister of Sustainable Development, Environment and Parks has, in accordance with section 710.2.3, notified a corporation of the amount determined to be the fair market value of a property it has disposed of or proposes to dispose of, the following rules apply:

(a)  on receipt of a written request made by the corporation on or before the day that is 90 days after the day that the corporation was so notified, the Minister of Sustainable Development, Environment and Parks shall with all due dispatch confirm or redetermine the fair market value;

(b)  the Minister of Sustainable Development, Environment and Parks may, on that Minister’s own initiative, at any time redetermine the fair market value;

(c)  in the cases referred to in paragraphs a and b, the Minister of Sustainable Development, Environment and Parks shall notify the corporation in writing of that Minister’s confirmation or redetermination; and

(d)  any such redetermination is deemed to replace all preceding determinations and redeterminations of the fair market value of the property from the time at which the first such determination was made.

2003, c. 2, s. 189; 2006, c. 3, s. 35.

2006-03-01

710.2.4. Where the Minister of the Environment has, in accordance with section 710.2.3, notified a corporation of the amount determined to be the fair market value of a property it has disposed of or proposes to dispose of, the following rules apply:

(a)  on receipt of a written request made by the corporation on or before the day that is 90 days after the day that the corporation was so notified, the Minister of the Environment shall with all due dispatch confirm or redetermine the fair market value;

(b)  the Minister of the Environment may, on that Minister’s own initiative, at any time redetermine the fair market value;

(c)  in the cases referred to in paragraphs a and b, the Minister of the Environment shall notify the corporation in writing of that Minister’s confirmation or redetermination; and

(d)  any such redetermination is deemed to replace all preceding determinations and redeterminations of the fair market value of the property from the time at which the first such determination was made.

2003, c. 2, s. 189.