I-3 - Taxation Act

Section 550.3 Disposition versions

2007-11-07

550.3. For the purposes of sections 21.5 to 21.9.4.1, if, as a result of an amalgamation after 16 November 1978, a particular share of any class of the capital stock of the new corporation is issued in consideration for the disposition of a share of any class of the capital stock of a predecessor corporation and the terms and conditions of the particular share are similar to the terms and conditions of the share so disposed of, the following rules apply:

(a)  the particular share is deemed to have been issued at the same time as the share disposed of;

(b)  if the share disposed of was issued under an agreement in writing, the particular share is deemed to have been issued under that agreement; and

(c)  the new corporation is deemed to be the same corporation as the predecessor corporation.

1980, c. 13, s. 53; 1984, c. 15, s. 116; 1997, c. 3, s. 71; 2007, c. 12, s. 67.

2006-03-01

550.3. For the purposes of sections 21.5 to 21.9.5, where, following an amalgamation occurring after 16 November 1978, a particular share of any class of the capital stock of the new corporation is issued in consideration for the disposition of a share of any class of the capital stock of a predecessor corporation and the terms and conditions of the particular share are similar to the terms and conditions of the share so disposed of, the following rules apply:

(a)  the particular share is deemed to have been issued at the same time as the share disposed of;

(b)  if the share disposed of was issued under an agreement in writing, the particular share is deemed to have been issued under that agreement; and

(c)  the new corporation is deemed to be the same corporation as the predecessor corporation.

1980, c. 13, s. 53; 1984, c. 15, s. 116; 1997, c. 3, s. 71.