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I-3 - Taxation Act

Section 994
Disposition versions

Full text
994. For the purposes of section 991, a corporation is deemed to be controlled by another corporation, if more than 50 per cent of its issued capital stock having full voting rights is owned by such other corporation or at once by such other corporation and by persons with whom such other corporation does not deal at arm’s length; however, such corporation is not deemed to have acquired control of a corporation if it has not purchased or otherwise acquired subject to payment any share in the capital stock of such corporation.
1972, c. 23, s. 726; 1978, c. 26, s. 201; 1997, c. 3, s. 71.
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