I-3 - Taxation Act

Section 1049.2.2.5.4 Disposition versions

2017-12-07

1049.2.2.5.4. (Repealed).

1997, c. 85, s. 279; 1999, c. 83, s. 273; 2017, c. 29, s. 201.

2006-03-01

1049.2.2.5.4. For the purposes of section 1049.2.2.5.3, a replaced share is a particular share issued by a corporation referred to in section 965.11.7.1 following a transaction described in sections 536, 541 and 544, as a replacement for a preferred share meeting the requirements set forth in paragraph b of section 965.9.1.0.4.2 or 965.9.1.0.5, referred to in this section as a “replaced share”, or in substitution for such a share so issued, and meeting the requirements set forth in its respect in the second paragraph.

The requirements referred to in the first paragraph, in respect of a particular share, are as follows:

(a)  the conditions pertaining to its issue provide that it may be redeemed or repaid by the corporation or purchased by anyone in any manner whatever;

(b)  it is identical, as to the terms and conditions, rights or other characteristics attached thereto, to the replaced share.

1997, c. 85, s. 279; 1999, c. 83, s. 273.