I-3 - Taxation Act

Section 776.7 Disposition versions

2006-03-01

776.7. In this Title and Title V.1,

(a)  “qualifying security” means

i.  a share;

ii.  a bond, debenture, bill, hypothecary claim, mortgage or similar obligation; or

iii.  a right under a scientific research and experimental development financing contract, issued or granted after 30 September 1983, other than a prescribed security;

(b)  “holder” of a qualifying security means

i.  in the case of a security described in subparagraph i or ii of paragraph a, a registered holder other than a broker or dealer in securities acting as an intermediary;

ii.  in the case of a security described in subparagraph iii of paragraph a, a holder other than a broker or dealer in securities acting as an intermediary;

(c)  “tax otherwise payable” by an individual under this Part for a taxation year means the tax payable by him for the year under this Part, computed without reference to section 776.17.

1985, c. 25, s. 134; 1986, c. 15, s. 124; 1987, c. 67, s. 158; 1988, c. 18, s. 68; 1989, c. 5, s. 131; 1996, c. 39, s. 211; 2001, c. 53, s. 145; 2005, c. 1, s. 185.