I-3 - Taxation Act

Section 965.11.14 Disposition versions

2017-12-07

965.11.14. (Repealed).

1988, c. 4, s. 104; 1997, c. 3, s. 71; 2017, c. 29, s. 166.

2006-03-01

965.11.14. A share to which section 965.11.13 refers is

(a)  a share that is a fractional share;

(b)  a share that can, under the conditions pertaining to its issue, be redeemed by the issuing corporation or purchased by anyone, directly or indirectly, in any manner whatever, and that was not received as part of a large distribution of surplus made after 16 December 1986 or, as a result of a transaction referred to in section 301, 536, 541 or 544, in respect of a share meeting at the time of its issue, the requirement of paragraph c of section 965.7 or in respect of a share substituted for such a share;

(c)  a share that is the subject of a transaction or operation or series of transactions or operations where the transaction or operation or series of transactions or operations is effected to meet the requirements of an Act or the regulations governing a sector of activities;

(d)  a share issued with a stipulation that it could be included in a stock savings plan or a share belonging to a class of shares some of which were issued with such a stipulation and that is the subject of a transaction or operation or series of transactions or operations where the transaction or operation or series of transactions or operations is effected by virtue of an obligation stated in the articles of a corporation before 7 May 1986; or

(e)  a share not described in paragraphs a to d and that is the subject of a transaction or operation or series of transactions or operations where the transaction or operation or series of transactions or operations is effected by virtue of an obligation stated in the articles of a corporation before 17 December 1986.

1988, c. 4, s. 104; 1997, c. 3, s. 71.