I-3 - Taxation Act

Section 736.0.5 Disposition versions

2017-02-08

736.0.5. Where a taxpayer is subject to a loss restriction event at a particular time and it can reasonably be considered that the main reason that the taxpayer is subject to the loss restriction event was to cause subparagraph b of the second paragraph of section 736 or section 736.0.2 or 736.0.3.1 to apply, the following provisions do not apply with respect to the loss restriction event:

(a)  the said subparagraph b of the second paragraph of section 736, the said sections 736.0.2 and 736.0.3.1 and subparagraph c of the second paragraph of section 736;

(b)  where, but for paragraph a, the said subparagraph b of the second paragraph of section 736 would apply, subparagraph a of the second paragraph of section 736.

1989, c. 77, s. 83; 1997, c. 3, s. 71; 2017, c. 1, s. 180.

2006-03-01

736.0.5. Where control of a corporation has been acquired by a person or group of persons and it may reasonably be considered that the main reason for the acquisition of control was to cause subparagraph b of the second paragraph of section 736 or section 736.0.2 or 736.0.3.1 to apply in respect of the acquisition, the following provisions do not apply in respect of the acquisition:

(a)  the said subparagraph b of the second paragraph of section 736, the said sections 736.0.2 and 736.0.3.1 and subparagraph c of the second paragraph of section 736;

(b)  where, but for paragraph a, the said subparagraph b of the second paragraph of section 736 would apply, subparagraph a of the second paragraph of section 736.

1989, c. 77, s. 83; 1997, c. 3, s. 71.