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I-3 - Taxation Act

Section 711.2
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711.2. Despite section 563, if control of a particular corporation is acquired at any time by a person or group of persons, the following rules apply:
(a)  no amount is deductible under any of paragraphs a to e of section 710 in computing any corporation’s taxable income for a taxation year that ends at or after that time in respect of a gift made by the particular corporation before that time; and
(b)  no amount is deductible under any of paragraphs a to e of section 710 in computing any corporation’s taxable income for a taxation year that ends at or after that time in respect of a gift made by any corporation at or after that time if the property that is the subject of the gift was acquired by the particular corporation under an arrangement under which it was expected that control of the particular corporation would be so acquired by a person or group of persons, other than a qualified donee that received the gift, and that the gift would be so made.
2005, c. 38, s. 86; 2006, c. 36, s. 50.
711.2. Despite section 563, if control of a particular corporation is acquired at any time by a person or group of persons, the following rules apply:
(a)  no amount is deductible under any of paragraphs a to d of section 710 in computing any corporation’s taxable income for a taxation year that ends at or after that time in respect of a gift made by the particular corporation before that time; and
(b)  no amount is deductible under any of paragraphs a to d of section 710 in computing any corporation’s taxable income for a taxation year that ends at or after that time in respect of a gift made by any corporation at or after that time if the property that is the subject of the gift was acquired by the particular corporation under an arrangement under which it was expected that control of the particular corporation would be so acquired by a person or group of persons, other than a qualified donee that received the gift, and that the gift would be so made.
2005, c. 38, s. 86.
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