I-3 - Taxation Act

Section 965.11.19.1 Disposition versions

2017-12-07

965.11.19.1. (Repealed).

1989, c. 5, s. 175; 1997, c. 3, s. 71; 1997, c. 85, s. 217; 2017, c. 29, s. 166.

2006-03-01

965.11.19.1. For the purposes of this Title, a corporation that has made a particular transaction referred to in the first paragraph of section 965.11.11, 965.11.13 or 965.11.17, is not required to meet the requirement set out in the second paragraph of section 965.11.11, 965.11.13 or 965.11.17, where applicable, in respect of the particular transaction if the aggregate of the amounts by which its capital stock has been reduced as a result of the particular transaction and of every other transaction consisting of a particular transaction referred to in the first paragraph of the said sections that is made during the period which begins on the three hundred and sixty-fourth day preceding the day of the particular transaction and ends immediately before the particular transaction is made is less than 5% of the amount, determined immediately before the particular transaction is made, of the paid-up capital

(a)  relating to the shares of its capital stock other than shares described in section 965.11.12, 965.11.14 or 965.11.18; and

(b)  relating to the subscription rights in shares referred to in paragraph a.

1989, c. 5, s. 175; 1997, c. 3, s. 71; 1997, c. 85, s. 217.