I-3 - Taxation Act

Section 965.21 Disposition versions

2017-12-07

965.21. (Repealed).

1983, c. 44, s. 37; 1985, c. 25, s. 140; 1987, c. 67, s. 176; 1992, c. 1, s. 130; 2005, c. 23, s. 130; 2017, c. 29, s. 166.

2006-03-01

965.21. Subject to the second paragraph, the deemed disposition after 10 May 1983, under any of sections 299, 436 and 440, of a share or debenture included in a stock savings plan does not entail the withdrawal of the share or debenture from the plan.

If an amount was deducted for a year under section 726.1 in respect of a particular security that is a qualifying share, a qualifying security or a qualifying non-guaranteed convertible security, if the deduction is related, directly or through an investment group or investment fund, to a share issue or security issue made by a corporation and if the corporation became a bankrupt in a particular year, the particular security is deemed withdrawn from the stock savings plan on the later of 1 January of the third year following the year of the deduction and the time in the particular year when the corporation became a bankrupt.

1983, c. 44, s. 37; 1985, c. 25, s. 140; 1987, c. 67, s. 176; 1992, c. 1, s. 130; 2005, c. 23, s. 130.