I-3 - Taxation Act

Section 965.6.0.3 Disposition versions

2017-12-07

965.6.0.3. (Repealed).

1988, c. 4, s. 87; 1989, c. 5, s. 165; 1990, c. 7, s. 91; 1991, c. 8, s. 60; 1992, c. 1, s. 95; 1993, c. 19, s. 78; 1997, c. 85, s. 207; 1999, c. 83, s. 273; 2017, c. 29, s. 166.

2006-03-01

965.6.0.3. The adjusted cost of a qualifying security for an individual is obtained by multiplying the cost of the security for the individual, determined without taking into account the borrowing costs, subscription or custody fees or other similar costs related to the security, by

(a)  the percentage stipulated in that respect in the final prospectus or in the application for an exemption from filing a prospectus relating to its issue; or

(b)  where it is so stipulated in the final prospectus or in the application for an exemption from filing a prospectus relating to its issue, the percentage determined not later than 60 days after the year of its issue and obtained by estimating, as a percentage, such proportion as is represented,

i.  in respect of an investment fund that has agreed to meet the requirements set out in section 965.6.23 in respect of the public security issue as part of which the qualifying security was issued, by the ratio between, on the one hand, the adjusted cost of the aggregate of all qualifying shares or all qualifying non-guaranteed convertible securities purchased in that year by the investment fund with the proceeds of the public issue of securities that are valid qualifying securities in respect of the year or, in the case of qualifying shares, acquired in the year by the investment fund, as a result of the exercise of a conversion right conferred on the holder of a convertible security, qualifying non-guaranteed convertible security or preferred share that meets the requirements of paragraph b of section 965.9.1.0.4.2 or 965.9.1.0.5 purchased in the year by the investment fund with the proceeds of the issue, and, on the other hand, the proceeds of the issue;

ii.  in respect of an investment fund that has agreed to meet the requirements set out in section 965.6.23.1 in respect of the public security issue as part of which the qualifying security was issued, by the ratio between, on the one hand, the aggregate of the adjusted cost of the aggregate of all qualifying shares or all qualifying non-guaranteed convertible securities that are the subject of the undertaking given by the investment fund in respect of the public security issue in accordance with paragraph a of the said section and that may be acquired by it for an amount equal to the particular amount referred to in paragraph b of the said section in respect of the year, and the adjusted cost of the aggregate of qualifying shares or qualifying non-guaranteed convertible securities not the subject of the undertaking under section 965.6.0.4 purchased by the investment fund in that year with that portion of the proceeds of the public issue of securities that are valid qualifying securities in respect of that year in excess of the particular amount or, in the case of qualifying shares, acquired by it in that year as a result of the exercise of a conversion right conferred on the holder of a convertible security, qualifying non-guaranteed convertible security or preferred share that meets the requirements of paragraph b of section 965.9.1.0.4.2 or 965.9.1.0.5 purchased in the year by the investment fund with such portion of the proceeds of the issue and, on the other hand, the proceeds of the public issue of securities that are valid qualifying securities in respect of that year.

1988, c. 4, s. 87; 1989, c. 5, s. 165; 1990, c. 7, s. 91; 1991, c. 8, s. 60; 1992, c. 1, s. 95; 1993, c. 19, s. 78; 1997, c. 85, s. 207; 1999, c. 83, s. 273.