I-3 - Taxation Act

Section 965.5.1 Disposition versions

2017-12-07

965.5.1. (Repealed).

1997, c. 85, s. 204; 1999, c. 83, s. 273; 2002, c. 40, s. 90; 2017, c. 29, s. 166.

2006-03-01

965.5.1. For the purposes of this Title and sections 1049.2.6 and 1049.2.7.1 to 1049.2.7.3, where a qualifying non-guaranteed convertible security, issued as part of a non-guaranteed convertible security issue, or a preferred share referred to in paragraph b of section 965.9.1.0.4.2 or 965.9.1.0.5, issued as part of a public share issue, is redeemed or repaid by the issuing corporation and the consideration received by the holder consists only of shares identical in relation to the terms, conditions, rights and other characteristics attaching thereto, to the shares the individual would have obtained had the individual exercised the conversion right conferred by that qualifying non-guaranteed convertible security or preferred share, as the case may be, the qualifying non-guaranteed convertible security or preferred share is deemed to be converted into one or more such identical shares and each such share is deemed to have been acquired by the holder as a result of the exercise of the conversion right conferred on the holder of the qualifying non-guaranteed convertible security or the preferred share, as the case may be.

1997, c. 85, s. 204; 1999, c. 83, s. 273; 2002, c. 40, s. 90.