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I-3 - Taxation Act

Section 965.20.1
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Full text
965.20.1. (Repealed).
1984, c. 35, s. 27; 1986, c. 15, s. 146; 1997, c. 3, s. 71; 2017, c. 29, s. 166.
965.20.1. For the purposes of section 965.20, an investment group or an individual, where such is the case, which or who, in the course of a year, withdraws from a stock savings plan shares of the same class of the capital stock of a corporation as it or he had included at various adjusted costs shall elect to evaluate the amount of the withdrawal according to a reasonable valuation method.
He shall exercise the election only once, in prescribed manner, in respect of all the shares of the same class of the capital stock of a corporation and shall use the elected method whenever any of those shares are withdrawn until all of those shares have been withdrawn from the plan.
Where an investment group or an individual, where such is the case, withdraws a share from a stock savings plan after 22 May 1984 without electing in prescribed manner, the method used in the case of that withdrawal is deemed to have been elected pursuant to this section.
1984, c. 35, s. 27; 1986, c. 15, s. 146; 1997, c. 3, s. 71.
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