I-3 - Taxation Act

Section 985.35.19 Disposition versions

2011-12-09

985.35.19. The Minister may, in the manner described in sections 1064 and 1065, revoke the registration

(a)  of a registered cultural or communications organization, if it has entered into a transaction (including a gift to another registered cultural or communications organization) and it may reasonably be considered that a purpose of the transaction was to avoid or unduly delay the obligation to expend amounts on artistic, cultural or communications activities;

(b)  of a registered cultural or communications organization, if it may reasonably be considered that a purpose of entering into a transaction (including the acceptance of a gift) with another registered cultural or communications organization to which paragraph a applies was to assist the other registered cultural or communications organization in avoiding or unduly delaying the obligation to expend amounts on artistic, cultural or communications activities; and

(c)  of a registered cultural or communications organization, if it has in a taxation year received a gift of property from another registered cultural or communications organization with which it does not deal at arm’s length and it has expended, before the end of the next taxation year, in addition to its disbursement quota for each of those two taxation years, an amount that is less than the fair market value of the property, on artistic, cultural or communications activities carried on by it or by way of gifts made to a qualified donee with which it deals at arm’s length.

2006, c. 36, s. 97; 2011, c. 34, s. 58.

2006-12-06

985.35.19. If a registered cultural or communications organization makes a gift to another registered cultural or communications organization and it may reasonably be considered that one of the main purposes of making the gift is to unduly delay the obligation to expend amounts on artistic, cultural or communications activities, the Minister may, in the manner described in sections 1064 and 1065, revoke the registration of the cultural or communications organization that is making the gift and, if it may reasonably be considered that the organizations are acting in concert, may, in the same manner, also revoke the registration of the other cultural or communications organization.

2006, c. 36, s. 97.