I-3 - Taxation Act

Section 965.130 Disposition versions

2010-04-20

965.130. Subject to the second paragraph, the deemed disposition, under any of sections 299, 436 and 440, of a share included in a stock savings plan II does not entail the withdrawal of the share from the plan.

If an amount was deducted for a year under section 726.4.0.1 in respect of a particular security that is a qualifying share or a qualifying security and if the deduction relates, directly or through a qualified mutual fund, to shares of a corporation that became a bankrupt in a particular year, the particular security is deemed withdrawn from the stock savings plan II on 1 January of the third year following the year of the deduction or, if it is later, at the time in the particular year when the corporation became a bankrupt.

2006, c. 13, s. 80; 2010, c. 5, s. 128.

2006-06-13

965.130. Subject to the second paragraph, the deemed disposition, under any of sections 299, 436 and 440, of a share included in an SME growth stock plan does not entail the withdrawal of the share from the plan.

If an amount was deducted for a year under section 726.4.0.1 in respect of a particular security that is a qualifying share or a qualifying security and if the deduction relates, directly or through a qualified mutual fund, to shares of a corporation that became a bankrupt in a particular year, the particular security is deemed withdrawn from the SME growth stock plan on 1 January of the fourth year following the year of the deduction or, if it is later, at the time in the particular year when the corporation became a bankrupt.

2006, c. 13, s. 80.