I-3 - Taxation Act

Section 870 Disposition versions

2006-03-01

870. In this Title,

“deferred profit sharing plan” means a plan accepted as such by the Minister of Revenue of Canada for registration for the purposes of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement) and the registration of which is in force;

“forfeited amount” under a deferred profit sharing plan or a plan the registration of which has been revoked under subsection 14 or 14.1 of section 147 of the Income Tax Act means an amount to which a beneficiary under the plan has ceased to have any rights, other than that portion of the amount that is payable, as a consequence of the death of the beneficiary, to a person who is entitled thereto by virtue of the participation of the beneficiary in the plan.

1972, c. 23, s. 651; 1991, c. 25, s. 99; 2000, c. 5, s. 293.