I-3 - Taxation Act

Section 844.11 Disposition versions

2023-09-26

844.11. The rules in section 844.12 apply if, at any time, an insurer (in this section and section 844.12 referred to as the “transferor”) transfers, to a corporation (in this section and section 844.12 referred to as the “transferee”) that is related to the transferor, property in respect of an insurance business carried on by the transferor (in this section and section 844.12 referred to as the “transferred business”) and

(a)  section 832.3 or 832.9 applies to the transfer; or

(b)  section 518 applies to the transfer, the transfer includes all or substantially all of the property and liabilities of the transferred business and, immediately after the transfer, the transferee carries on an insurance business.

2010, c. 25, s. 94; 2023, c. 19, s. 78.

2010-10-27

844.11. The rules in section 844.12 apply if, at any time, a life insurer (in this section and section 844.12 referred to as the “transferor”) transfers, to a corporation (in this section and section 844.12 referred to as the “transferee”) that is related to the transferor, property in respect of a life insurance business carried on by the transferor in Canada (in this section and section 844.12 referred to as the “transferred business”) and

(a)  section 832.3 or 832.9 applies to the transfer; or

(b)  section 518 applies to the transfer, the transfer includes all or substantially all of the property and liabilities of the transferred business and, immediately after the transfer, the transferee carries on a life insurance business.

2010, c. 25, s. 94.