I-3 - Taxation Act

Section 725.5.2 Disposition versions

2022-06-08

725.5.2. Section 725.5.3 applies to a taxpayer in respect of an agreement if

(a)  a particular qualifying person agrees to sell or issue securities of the particular qualifying person (or of another qualifying person that does not deal at arm’s length with the particular qualifying person) to the taxpayer under the agreement;

(b)  at the time the agreement is entered into (in this section and section 725.5.3 referred to as the “relevant time”), the taxpayer is an employee of the particular qualifying person or of another qualifying person that does not deal at arm’s length with the particular qualifying person; and

(c)  at the relevant time, any of the following persons is a specified person:

i.  the particular qualifying person,

ii.  the other qualifying person referred to in paragraph a, or

iii.  the other qualifying person referred to in paragraph b.

2022, c. 23, s. 42.