C-8.3 - Act respecting international financial centres

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51.5. Section 51.4 does not apply in respect of a person, in relation to a given partnership, if the Minister is of the opinion that the interposition, between the person and the given partnership, of one or more other partnerships is part of an operation or transaction or of a series of operations or transactions, one of the purposes of which is to cause the person to be able to deduct, under this chapter, in computing the person’s taxable income for a taxation year or in computing the person’s paid-up capital otherwise determined for a taxation year, an amount greater than the amount that the person could have so deducted for that taxation year, but for that interposition.
2009, c. 15, s. 4.