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I-3 - Taxation Act
Section 965.131
Disposition versions
965.131. The splitting or replacement of a qualifying share included in a stock savings plan II, as a result of a transaction referred to in any of sections 536, 541 and 544, without any consideration other than a share, does not entail the withdrawal of the qualifying share from the plan if the requirement set out in section 965.75 is met in relation to each share issued in respect of the qualifying share that is split or replaced.
In such a case, each new share so issued is deemed to be a qualifying share that was included in a stock savings plan II at the same time as the qualifying share that is split or replaced.
In any other case, the qualifying share that is split or replaced is deemed to be withdrawn from the stock savings plan II at the time of the splitting or replacement, at the adjusted cost determined in its respect immediately before that time.
965.131. The splitting or replacement of a qualifying share included in an SME growth stock plan, as a result of a transaction referred to in any of sections 536, 541 and 544, without any consideration other than a share, does not entail the withdrawal of the qualifying share from the plan if the requirement set out in section 965.75 is met in relation to each share issued in respect of the qualifying share that is split or replaced.
In such a case, each new share so issued is deemed to be a qualifying share that was included in an SME growth stock plan at the same time as the qualifying share that is split or replaced.
In any other case, the qualifying share that is split or replaced is deemed to be withdrawn from the SME growth stock plan at the time of the splitting or replacement, at the adjusted cost determined in its respect immediately before that time.
