I-3 - Taxation Act

Section 965.74 Disposition versions

2011-04-01

965.74. A share of the capital stock of an issuing corporation qualifies for a stock savings plan II if

(a)  it is a common share with voting rights;

(b)  it cannot, under the conditions pertaining to its issue, be redeemed in whole or in part by the issuing corporation or purchased in whole or in part by anyone, directly or indirectly, in any manner whatever, or be the subject of a transaction that would result either in rendering such a share, a share substituted for such a share or a share received as a result of a transaction referred to in any of sections 301, 536, 541 and 544 in relation to any such share or substituted share, redeemable in whole or in part by the issuing corporation or purchasable in whole or in part by anyone, directly or indirectly, in any manner whatever, or in transferring property of the corporation other than a dividend to the shareholder;

(c)  it cannot, under the conditions pertaining to its issue, entitle the holder to a dividend that is or will be the subject of an undertaking under which its payment is guaranteed by a person other than the issuing corporation;

(d)  it is issued by a qualified issuing corporation that states in the final prospectus that the share may be included in a stock savings plan II and entitles its holder to the benefit provided for in its respect by this Title;

(e)  before the receipt for a final prospectus has been obtained, it was the subject of a favourable advance ruling from the Minister to the effect that it complies with the objectives of this Title;

(f)  it is acquired for money consideration within the scope of a public share issue by an individual or a qualified mutual fund as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter; and

(g)  it is subscribed and paid.

2006, c. 13, s. 80; 2010, c. 5, s. 105; 2010, c. 31, s. 89.

2010-04-20

965.74. A share of the capital stock of an issuing corporation qualifies for a stock savings plan II if

(a)  it is a common share with voting rights;

(b)  it cannot, under the conditions pertaining to its issue, be redeemed in whole or in part by the issuing corporation or purchased in whole or in part by anyone, directly or indirectly, in any manner whatever, or be the subject of a transaction that would result either in rendering such a share, a share substituted for such a share or a share received as a result of a transaction referred to in any of sections 301, 536, 541 and 544 in relation to any such share or substituted share, redeemable in whole or in part by the issuing corporation or purchasable in whole or in part by anyone, directly or indirectly, in any manner whatever, or in transferring property of the corporation other than a dividend to the shareholder;

(c)  it cannot, under the conditions pertaining to its issue, entitle the holder to a dividend that is or will be the subject of an undertaking under which its payment is guaranteed by a person other than the issuing corporation;

(d)  it is issued by a qualified issuing corporation that states in the final prospectus that the share may be included in a stock savings plan II and entitles its holder to the benefit provided for in its respect by this Title;

(e)  before the receipt for a final prospectus has been obtained, it was the subject of a favourable advance ruling from the Ministère du Revenu to the effect that it complies with the objectives of this Title;

(f)  it is acquired for money consideration within the scope of a public share issue by an individual or a qualified mutual fund as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter; and

(g)  it is subscribed and paid.

2006, c. 13, s. 80; 2010, c. 5, s. 105.

2006-06-13

965.74. A share of the capital stock of an issuing corporation qualifies for an SME growth stock plan if

(a)  it is a common share with voting rights;

(b)  it cannot, under the conditions pertaining to its issue, be redeemed in whole or in part by the issuing corporation or purchased in whole or in part by anyone, directly or indirectly, in any manner whatever, or be the subject of a transaction that would result either in rendering such a share, a share substituted for such a share or a share received as a result of a transaction referred to in any of sections 301, 536, 541 and 544 in relation to any such share or substituted share, redeemable in whole or in part by the issuing corporation or purchasable in whole or in part by anyone, directly or indirectly, in any manner whatever, or in transferring property of the corporation other than a dividend to the shareholder;

(c)  it cannot, under the conditions pertaining to its issue, entitle the holder to a dividend that is or will be the subject of an undertaking under which its payment is guaranteed by a person other than the issuing corporation;

(d)  it is issued by a qualified issuing corporation that states in the final prospectus that the share may be included in an SME growth stock plan and entitles its holder to the benefit provided for in its respect by this Title;

(e)  before the receipt for a final prospectus has been obtained, it was the subject of a favourable advance ruling from the Ministère du Revenu to the effect that it complies with the objectives of this Title;

(f)  it is acquired for money consideration within the scope of a public share issue by an individual or a qualified mutual fund as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter; and

(g)  it is subscribed and paid.

2006, c. 13, s. 80.