I-3 - Taxation Act

Section 965.36.2 Disposition versions

2006-03-01

965.36.2. For the purposes of this Title, where, at any time, a trust governed by a registered retirement savings plan, of the type commonly called self-directed, acquires, as first purchaser, a qualifying security of a qualified cooperative, the following rules apply:

(a)  the annuitant, within the meaning of paragraph b of section 905.1, under the plan at that time is deemed to be the person who acquires the qualifying security at that time as first purchaser and the trust is deemed not to be that person, to the extent that the annuitant at that time is an individual who is a qualified investor, within the meaning of the cooperative investment plan, in respect of the qualified cooperative; and

(b)  the cost to the annuitant referred to in subparagraph a of the qualifying security is deemed to be the same as the cost to the trust.

1995, c. 1, s. 106.