I-3 - Taxation Act

Section 1129.11 Disposition versions

2017-12-07

1129.11. (Repealed).

1992, c. 1, s. 204; 1997, c. 3, s. 71; 2017, c. 29, s. 214.

2006-03-01

1129.11. For the purposes of this Book, an accepted security is a particular security issued by a corporation, following a transaction described in section 536, 541 or 544, as a replacement for a qualifying non-guaranteed convertible security, referred to in this section as a “replaced security”, or in substitution for such a security 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 security, 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 conditions, rights or other characteristics attached thereto, to the replaced security;

(c)  it carries no maturity date if the replaced security carried none, and if the replaced security carried a maturity date, it carries the same one.

1992, c. 1, s. 204; 1997, c. 3, s. 71.