69. The reference period of an individual described in section 66, in relation to an employment the individual holds with a particular corporation or partnership, referred to in that section is the period(1) that begins on the earlier of(a) the day on which the individual begins to perform the duties of that employment, and
(b) where applicable, the day on which the individual became resident in Canada to establish an international financial centre in Canada ;
(2) throughout which(a) the individual is working to establish an international financial centre or holds an employment with a corporation or partnership operating such a centre, and
(b) the following conditions are satisfied :i. the conditions set out in subparagraphs a and b of subparagraph 2 of the first paragraph of section 66, while the individual is working to establish an international financial centre, and
ii. the conditions set out in subparagraphs 3 and 4 of the first paragraph of section 66, where the individual holds an employment with a corporation or partnership operating an international financial centre;
(3) that does not exceed five years, with reference to,(a) where the individual began to stay or became resident in Canada after 19 December 2002 because of a contract of employment entered into after that date, the aggregate of all periods each of which is a preceding period within the meaning of section 69.1 that is established in respect of the individual, and
(b) in any other case, the aggregate of all the preceding periods each of which is any of the following periods:i. a preceding period, in relation to a preceding employment, established in respect of the individual under this section or the regulations under the first paragraph of section 737.16 of the Taxation Act (chapter I-3), as they read for a taxation year beginning on or before 20 December 1999, or ii. a preceding period within the meaning of section 69.1 that is established in respect of the individual since the last time the individual became resident in Canada, other than a preceding period referred to in subparagraph i; and
(4) that, if the individual entered into the individual’s employment contract with the particular corporation or partnership after 30 March 2004, ends on or before the last day of the five-year period that begins,(a) unless subparagraph b applies, on the day on which the individual first begins to perform the duties of an employment for which the individual may deduct an amount in computing the individual’s taxable income for a taxation year under any of the sections mentioned in the third paragraph of section 737.19.2 of the Taxation Act, or could so deduct such an amount if an employer had not failed to apply, in respect of the individual, for a qualification certificate or a certificate referred to in any of the sections mentioned in subparagraph ii of paragraph a of section 737.20 of that Act; or
(b) if the individual began to perform the duties of the employment referred to in subparagraph a under a contract of employment entered into with a particular corporation or partnership operating an international financial centre established by the individual and if the individual was resident in Canada immediately before the contract of employment was entered into and immediately before the individual took up that employment, on the day, determined without reference to paragraph a of section 8 of the Taxation Act, on which the individual becomes resident in Canada to work on the establishment of that centre.