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I-3 - Taxation Act

Section 55
Disposition versions

Full text
55. If a particular qualifying person has agreed to sell or issue one of its securities, or a security of a qualifying person with which it does not deal at arm’s length, to one of its employees or to an employee of the qualifying person with which it does not deal at arm’s length, the income for a taxation year of any person is deemed to be not less than it would have been for the year if no benefit had been conferred on the employee by the sale or issue of the security.
1972, c. 23, s. 49; 1986, c. 19, s. 9; 1997, c. 3, s. 71; 2001, c. 53, s. 21.
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