I-3 - Taxation Act

Section 965.87 Disposition versions

2017-12-07

965.87. A share of a class of the capital stock of a corporation is also a valid share if

(a)  it is acquired by an individual or a qualified mutual fund as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter;

(b)  at the time of its acquisition, it is listed on a designated stock exchange located in Canada or, if the acquisition occurs before 14 December 2007, on a Canadian stock exchange, within the meaning assigned to that expression by section 1 on 13 December 2007;

(c)  it is issued by the corporation as part of a share issue referred to in the second paragraph of any of sections 965.105, 965.107 and 965.110;

(d)  on the date of its acquisition, the class of shares of the capital stock of that corporation to which the share belongs is included in the list of the Autorité des marchés financiers; and

(e)  as part of its acquisition, the certificate attesting to it is given to the dealer referred to in section 965.56 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. 109; 2017, c. 29, s. 170.

2010-04-20

965.87. A share of a class of the capital stock of a corporation is also a valid share if

(a)  it is acquired by an individual or a qualified mutual fund as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter;

(b)  at the time of its acquisition, it is listed on a designated stock exchange located in Canada or, if the acquisition occurs before 14 December 2007, on a Canadian stock exchange, within the meaning assigned to that expression by section 1 on 13 December 2007;

(c)  it is issued by the corporation as part of a share issue referred to in the second paragraph of any of sections 965.105, 965.107 and 965.110;

(d)  on the date of its acquisition, the class of shares of the capital stock of that corporation to which the share belongs is included in the list of the Autorité des marchés financiers and is not identified in the list established for the purposes of section 965.9.7.2; and

(e)  as part of its acquisition, the certificate attesting to it is given to the dealer referred to in section 965.56 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. 109.

2006-06-13

965.87. A share of a class of the capital stock of a corporation is also a valid share if

(a)  it is acquired by an individual or a qualified mutual fund as first purchaser, other than a dealer acting as an intermediary or as a firm underwriter;

(b)  at the time of its acquisition, it is listed on a Canadian stock exchange;

(c)  it is issued by the corporation as part of a share issue referred to in the second paragraph of any of sections 965.105, 965.107 and 965.110;

(d)  on the date of its acquisition, the class of shares of the capital stock of that corporation to which the share belongs is included in the list of the Autorité des marchés financiers and is not identified in the list established for the purposes of section 965.9.7.2; and

(e)  as part of its acquisition, the certificate attesting to it is given to the dealer referred to in section 965.56 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.