I-3 - Taxation Act

Section 965.85 Disposition versions

2011-04-01

965.85. A security qualifies for a stock savings plan II if

(a)  it is issued by a qualified mutual fund that states, in the final prospectus relating to the issue of the security, that the security may be included in a stock savings plan II and entitles its holder to the benefit provided for in its respect by this Title;

(b)  where it is issued by a qualified mutual fund that, in respect of its first public security issue consisting of securities that may be included in a stock savings plan II, has made an election under section 965.121, it is a security issued as part of that first public security issue;

(c)  it is acquired for money consideration by an individual as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter;

(d)  before the receipt for a final prospectus relating to its issue 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; and

(e)  the certificate attesting to it is

i.  kept, under the terms of an arrangement provided for in subparagraph ii of paragraph b of section 965.56, by the qualified mutual fund that issued the security, or

ii.  given directly to the dealer referred to in subparagraph i of paragraph b of section 965.56 by the issuer of the certificate or by another dealer who certifies that the certificate has been held, without interruption from its issue, by a dealer acting as an intermediary or as a firm underwriter, or issued and registered in the dealer’s name or in the name of a person designated by the dealer.

2006, c. 13, s. 80; 2010, c. 5, s. 107; 2010, c. 31, s. 89.

2010-04-20

965.85. A security qualifies for a stock savings plan II if

(a)  it is issued by a qualified mutual fund that states, in the final prospectus relating to the issue of the security, that the security may be included in a stock savings plan II and entitles its holder to the benefit provided for in its respect by this Title;

(b)  where it is issued by a qualified mutual fund that, in respect of its first public security issue consisting of securities that may be included in a stock savings plan II, has made an election under section 965.121, it is a security issued as part of that first public security issue;

(c)  it is acquired for money consideration by an individual as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter;

(d)  before the receipt for a final prospectus relating to its issue 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; and

(e)  the certificate attesting to it is

i.  kept, under the terms of an arrangement provided for in subparagraph ii of paragraph b of section 965.56, by the qualified mutual fund that issued the security, or

ii.  given directly to the dealer referred to in subparagraph i of paragraph b of section 965.56 by the issuer of the certificate or by another dealer who certifies that the certificate has been held, without interruption from its issue, by a dealer acting as an intermediary or as a firm underwriter, or issued and registered in the dealer’s name or in the name of a person designated by the dealer.

2006, c. 13, s. 80; 2010, c. 5, s. 107.

2006-06-13

965.85. A security qualifies for an SME growth stock plan if

(a)  it is issued by a qualified mutual fund that states, in the final prospectus relating to the issue of the security, that the security may be included in an SME growth stock plan and entitles its holder to the benefit provided for in its respect by this Title;

(b)  where it is issued by a qualified mutual fund that, in respect of its first public security issue consisting of securities that may be included in an SME growth stock plan, has made an election under section 965.121, it is a security issued as part of that first public security issue;

(c)  it is acquired for money consideration by an individual as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter;

(d)  before the receipt for a final prospectus relating to its issue 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; and

(e)  the certificate attesting to it is

i.  kept, under the terms of an arrangement provided for in subparagraph ii of paragraph b of section 965.56, by the qualified mutual fund that issued the security, or

ii.  given directly to the dealer referred to in subparagraph i of paragraph b of section 965.56 by the issuer of the certificate or by another dealer who certifies that the certificate has been held, without interruption from its issue, by a dealer acting as an intermediary or as a firm underwriter, or issued and registered in the dealer’s name or in the name of a person designated by the dealer.

2006, c. 13, s. 80.