I-3 - Taxation Act

Section 832.15 Disposition versions

2006-03-01

832.15. For the purposes of sections 436, 440, 444, 450, 450.6 and 653 and Chapter I of Title I.1, where an insurance corporation makes, at any time, a public announcement that it intends to seek approval for its demutualization, the fair market value of ownership rights in the corporation is deemed to be nil throughout the period that begins at that time and ends either at the time of the demutualization or, in the event that the corporation makes at any subsequent time a public announcement that it no longer intends to demutualize, at the subsequent time.

2001, c. 53, s. 167; 2004, c. 8, s. 164.