I-3 - Taxation Act

Section 979.1 Disposition versions

2007-11-07

979.1. (Repealed).

1985, c. 25, s. 143; 2002, c. 45, s. 521; 2004, c. 37, s. 90; 2007, c. 12, s. 98.

2006-03-01

979.1. In this Title,

(a)  “reserve account for contingent losses” means an account described in section 979.2;

(b)  “market-maker” means a trading representative registered with the Autorité des marchés financiers to carry on his activity for his own account or as the employee of a clearing member on the trading floor of the Montréal Stock Exchange and appointed by the Exchange to maintain the market of the listed stocks;

(c)  “clearing member” means a person registered as a member of a clearing house recognized by the Montréal Stock Exchange;

(d)  “particular period” means, in respect of a market-maker who works for his own account, a fiscal period and, in respect of a market-maker who is an employee, the determined period used as a basis, for the clearing member, for determining his position at any time;

(e)  “profit” or “loss” of a market-maker for a particular period means, in respect of a person who works for his own account, his income or loss for the particular period from his transactions as market-maker, determined in accordance with this Part but without reference to this Title and, in respect of an employee, his position, at the end of the particular period, with regard to his transactions as market-maker, determined by his clearing member.

1985, c. 25, s. 143; 2002, c. 45, s. 521; 2004, c. 37, s. 90.