Income Tax Act

Version of section 253.1 from 2013-06-26 to 2016-06-21:

Marginal note:Investments in limited partnerships

 For the purposes of subparagraph 108(2)(b)(ii), paragraphs 130.1(6)(b), 131(8)(b), 132(6)(b) and 146.1(2.1)(c), subsection 146.2(6), paragraph 146.4(5)(b), subsection 147.5(8), paragraph 149(1)(o.2), the definition private holding corporation in subsection 191(1) and regulations made for the purposes of paragraphs 149(1)(o.3) and (o.4), if a trust or corporation holds an interest as a member of a partnership and, by operation of any law governing the arrangement in respect of the partnership, the liability of the member as a member of the partnership is limited, the member shall not, solely because of its acquisition and holding of that interest, be considered to carry on any business or other activity of the partnership.

  • NOTE: Application provisions are not included in the consolidated text;
  • see relevant amending Acts. 2001, c. 17, s. 193;
  • 2007, c. 35, s. 124;
  • 2008, c. 28, s. 36;
  • 2009, c. 2, s. 77;
  • 2012, c. 31, s. 57;
  • 2013, c. 34, ss. 363, 426.
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