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  1. Geneva Conventions Act - R.S.C., 1985, c. G-3 (SCHEDULE IV)

    [...]

    [...]

    PART I
    General Provisions

    Article 1

    The High Contracting Parties undertake to respect and to ensure respect for the present Convention in all circumstances.

    [...]

    In addition to the provisions which shall be implemented in peacetime, the present Convention shall apply to all cases of declared war or of any other armed conflict which may arise between two or more of the High Contracting Parties, even if the state of war is not recognized by one of them.

    The Convention shall also apply to all cases of partial or total occupation of the territory of a High Contracting Party, even if the said occupation meets with no armed resistance.

    Although one of the Powers in conflict may not be a party to the present Convention, the Powers who are parties thereto shall remain bound by it in their mutual relations. They shall furthermore be bound by the Convention in relation to the said Power, if the latter accepts and applies the provisions thereof.

    [...]

    In the case of armed conflict not of an international character occurring in the territory of one of the High Contracting Parties, each Party to the conflict shall be bound to apply, as a minimum, the following provisions:

    • (1) Persons taking no active part in the hostilities, including members of armed forces who have laid down their arms and those placed hors de combat by sickness, wounds, detention, or any other cause, shall in all circumstances be treated humanely, without any adverse distinction founded on race, colour, religion or faith, sex, birth or wealth, or any other similar criteria.

    [...]

    An impartial humanitarian body, such as the International Committee of the Red Cross, may offer its services to the Parties to the conflict.

    The Parties to the conflict should further endeavour to bring into force, by means of special agreements, all or part of the other provisions of the present Convention.

    The application of the preceding provisions shall not affect the legal status of the Parties to the conflict.

    [...]

    Persons protected by the Convention are those who, at a given moment and in any manner whatsoever, find themselves, in case of a conflict or occupation, in the hands of a Party to the conflict or Occupying Power of which they are not nationals.

    [...]

    The provisions of Part II are, however, wider in application, as defined in Article 13.

    [...]

    Where, in the territory of a Party to the conflict, the latter is satisfied that an individual protected person is definitely suspected of or engaged in activities hostile to the security of the State, such individual person shall not be entitled to claim such rights and privileges under the present Convention as would, if exercised in the favour of such individual person, be prejudicial to the security of such State.

    [...]

    In the territory of Parties to the conflict, the application of the present Convention shall cease on the general close of military operations.

    In the case of occupied territory, the application of the present Convention shall cease one year after the general close of military operations; however, the Occupying Power shall be bound, for the duration of the occupation, to the extent that such Power exercises the functions of government in such territory, by the provisions of the following Articles of the present Convention: 1 to 12, 27, 29 to 34, 47, 49, 51, 52, 53, 59, 61 to 77, 143.

    [...]

    In addition to the agreements expressly provided for in Articles 11, 14, 15, 17, 36, 108, 109, 132, 133 and 149, the High Contracting Parties may conclude other special agreements for all matters concerning which they may deem it suitable to make separate provision. No special agreement shall adversely affect the situation of protected persons, as defined by the present Convention, nor restrict the rights which it confers upon them.

    Protected persons shall continue to have the benefit of such agreements as long as the Convention is applicable to them, except where express provisions to the contrary are contained in the aforesaid or in subsequent agreements, or where more favourable measures have been taken with regard to them by one or other of the Parties to the conflict.

    [...]

    Protected persons may in no circumstances renounce in part or in entirety the rights secured to them by the present Convention, and by the special agreements referred to in the foregoing Article, if such there be.

    [...]

    The present Convention shall be applied with the cooperation and under the scrutiny of the Protecting Powers whose duty it is to safeguard the interests of the Parties to the conflict. For this purpose, the Protecting Powers may appoint, apart from their diplomatic or consular staff, delegates from amongst their own nationals or the nationals of other neutral Powers. The said delegates shall be subject to the approval of the Power with which they are to carry out their duties.

    The Parties to the conflict shall facilitate to the greatest extent possible the task of the representatives or delegates of the Protecting Powers.

    [...]

    The provisions of the present Convention constitute no obstacle to the humanitarian activities which the International Committee of the Red Cross or any other impartial humanitarian organization may, subject to the consent of the Parties to the conflict concerned, undertake for the protection of civilian persons and for their relief.

    [...]

    The High Contracting Parties may at any time agree to entrust to an organization which offers all guarantees of impartiality and efficacy the duties incumbent on the Protecting Powers by virtue of the present Convention.

    When persons protected by the present Convention do not benefit or cease to benefit, no matter for what reason, by the activities of a Protecting Power or of an organization provided for in the first paragraph above, the Detaining Power shall request a neutral State, or such an organization, to undertake the functions performed under the present Convention by a Protecting Power designated by the Parties to a conflict.

    [...]

    Any neutral Power, or any organization invited by the Power concerned or offering itself for these purposes, shall be required to act with a sense of responsibility towards the Party to the conflict on which persons protected by the present Convention depend, and shall be required to furnish sufficient assurances that it is in a position to undertake the appropriate functions and to discharge them impartially.

    No derogation from the preceding provisions shall be made by special agreements between Powers one of which is restricted, even temporarily, in its freedom to negotiate with the other Power or its allies by reason of military events, more particularly where the whole, or a substantial part, of the territory of the said Power is occupied.

    [...]

    In cases where they deem it advisable in the interest of protected persons, particularly in cases of disagreement between the Parties to the conflict as to the application or interpretation of the provisions of the present Convention, the Protecting Powers shall lend their good offices with a view to settling the disagreement.

    For this purpose, each of the Protecting Powers may, either at the invitation of one Party or on its own initiative, propose to the Parties to the conflict a meeting of their representatives, and in particular of the authorities responsible for protected persons, possibly on neutral territory suitably chosen. The Parties to the conflict shall be bound to give effect to the proposals made to them for this purpose. The Protecting Powers may, if necessary, propose for approval by the Parties to the conflict, a person belonging to a neutral Power or delegated by the International Committee of the Red Cross, who shall be invited to take part in such a meeting.

    PART II
    General Protection of Populations Against Certain Consequences of War

    [...]

    The provisions of Part II cover the whole of the populations of the countries in conflict, without any adverse distinction based, in particular, on race, nationality, religion or political opinion, and are intended to alleviate the sufferings caused by war.

    [...]

    In time of peace, the High Contracting Parties and, after the outbreak of hostilities, the Parties thereto, may establish in their own territory and, if the need arises, in occupied areas, hospital and safety zones and localities so organized as to protect from the effects of war, wounded, sick and aged persons, children under fifteen, expectant mothers and mothers of children under seven.

    Upon the outbreak and during the course of hostilities, the Parties concerned may conclude agreements on mutual recognition of the zones and localities they have created. They may for this purpose implement the provisions of the Draft Agreement annexed to the present Convention, with such amendments as they may consider necessary.

    [...]

    Any Party to the conflict may, either direct or through a neutral State or some humanitarian organization, propose to the adverse Party to establish, in the regions where fighting is taking place, neutralized zones intended to shelter from the effects of war the following persons, without distinction:

    • [...]

    • (b) civilian persons who take no part in hostilities, and who, while they reside in the zones, perform no work of a military character.

    When the Parties concerned have agreed upon the geographical position, administration, food supply and supervision of the proposed neutralized zone, a written agreement shall be concluded and signed by the representatives of the Parties to the conflict. The agreement shall fix the beginning and the duration of the neutralization of the zone.

    [...]

    As far as military considerations allow, each Party to the conflict shall facilitate the steps taken to search for the killed and wounded, to assist the shipwrecked and other persons exposed to grave danger, and to protect them against pillage and ill-treatment.

    [...]

    The Parties to the conflict shall endeavour to conclude local agreements for the removal from besieged or encircled areas, of wounded, sick, infirm, and aged persons, children and maternity cases, and for the passage of ministers of all religions, medical personnel and medical equipment on their way to such areas.

    [...]

    Civilian hospitals organized to give care to the wounded and sick, the infirm and maternity cases, may in no circumstances be the object of attack, but shall at all times be respected and protected by the Parties to the conflict.

    States which are Parties to a conflict shall provide all civilian hospitals with certificates showing that they are civilian hospitals and that the buildings which they occupy are not used for any purpose which would deprive these hospitals of protection in accordance with Article 19.

    [...]

    The Parties to the conflict shall, in so far as military considerations permit, take the necessary steps to make the distinctive emblems indicating civilian hospitals clearly visible to the enemy land, air and naval forces in order to obviate the possibility of any hostile action.

    [...]

    Aircraft exclusively employed for the removal of wounded and sick civilians, the infirm and maternity cases, or for the transport of medical personnel and equipment, shall not be attacked, but shall be respected while flying at heights, times and on routes specifically agreed upon between all the Parties to the conflict concerned.

    [...]

    Each High Contracting Party shall allow the free passage of all consignments of medical and hospital stores and objects necessary for religious worship intended only for civilians of another High Contracting Party, even if the latter is its adversary. It shall likewise permit the free passage of all consignments of essential foodstuffs, clothing and tonics intended for children under fifteen, expectant mothers and maternity cases.

    The obligation of a High Contracting Party to allow the free passage of the consignments indicated in the preceding paragraph is subject to the condition that this Party is satisfied that there are no serious reasons for fearing:

    [...]

    The Parties to the conflict shall take the necessary measures to ensure that children under fifteen, who are orphaned or are separated from their families as a result of the war, are not left to their own resources, and that their maintenance, the exercise of their religion and their education are facilitated in all circumstances. Their education shall, as far as possible, be entrusted to persons of a similar cultural tradition.

    The Parties to the conflict shall facilitate the reception of such children in a neutral country for the duration of the conflict with the consent of the Protecting Power, if any, and under due safeguards for the observance of the principles stated in the first paragraph.

    [...]

    All persons in the territory of a Party to the conflict, or in a territory occupied by it, shall be enabled to give news of a strictly personal nature to members of their families, wherever they may be, and to receive news from them. This correspondence shall be forwarded speedily and without undue delay.

    If, as a result of circumstances, it becomes difficult or impossible to exchange family correspondence by the ordinary post, the Parties to the conflict concerned shall apply to a neutral intermediary, such as the Central Agency provided for in Article 140, and shall decide in consultation with it how to ensure the fulfilment of their obligations under the best possible conditions, in particular with the cooperation of the National Red Cross (Red Crescent, Red Lion and Sun) Societies.

    If the Parties to the conflict deem it necessary to restrict family correspondence, such restrictions shall be confined to the compulsory use of standard forms containing twenty-five freely chosen words, and to the limitation of the number of these forms despatched to one each month.

    [...]

    Each Party to the conflict shall facilitate enquiries made by members of families dispersed owing to the war, with the object of renewing contact with one another and of meeting, if possible. It shall encourage, in particular, the work of organizations engaged on this task provided they are acceptable to it and conform to its security regulations.

    PART III
    Status and Treatment of Protected Persons

    Section I
    Provisions Common to the Territories of the Parties to the Conflict and to Occupied Territories

    [...]

    Without prejudice to the provisions relating to their state of health, age and sex, all protected persons shall be treated with the same consideration by the Party to the conflict in whose power they are, without any adverse distinction based, in particular, on race, religion or political opinion.

    However, the Parties to the conflict may take such measures of control and security in regard to protected persons as may be necessary as a result of the war.

    [...]

    The Party to the conflict in whose hands protected persons may be, is responsible for the treatment accorded to them by its agents, irrespective of any individual responsibility which may be incurred.

    [...]

    No physical or moral coercion shall be exercised against protected persons, in particular to obtain information from them or from third parties.

    [...]

    The High Contracting Parties specifically agree that each of them is prohibited from taking any measure of such a character as to cause the physical suffering or extermination of protected persons in their hands. This prohibition applies not only to murder, torture, corporal punishment, mutilation and medical or scientific experiments not necessitated by the medical treatment of a protected person, but also to any other measures of brutality whether applied by civilian or military agents.

    [...]

    Section II
    Aliens in the Territory of a Party to the Conflict

    [...]

    The foregoing shall not prejudice such special agreements as may be concluded between Parties to the conflict concerning the exchange and repatriation of their nationals in enemy hands.

    [...]

    With the exception of special measures authorized by the present Convention, in particular by Articles 27 and 41 thereof, the situation of protected persons shall continue to be regulated, in principle, by the provisions concerning aliens in time of peace. In any case, the following rights shall be granted to them:

    • (1) They shall be enabled to receive the individual or collective relief that may be sent to them.

    [...]

    Where a Party to the conflict applies to a protected person methods of control which result in his being unable to support himself, and especially if such a person is prevented for reasons of security from finding paid employment on reasonable conditions, the said Party shall ensure his support and that of his dependants.

    [...]

    Protected persons may be compelled to work only to the same extent as nationals of the Party to the conflict in whose territory they are.

    [...]

    In applying the provisions of Article 39, second paragraph, to the cases of persons required to leave their usual places of residence by virtue of a decision placing them in assigned residence elsewhere, the Detaining Power shall be guided as closely as possible by the standards of welfare set forth in Part III, Section IV of this Convention.

    [...]

    Protected persons shall not be transferred to a Power which is not a party to the Convention.

    [...]

    Protected persons may be transferred by the Detaining Power only to a Power which is a party to the present Convention and after the Detaining Power has satisfied itself of the willingness and ability of such transferee Power to apply the present Convention. If protected persons are transferred under such circumstances, responsibility for the application of the present Convention rests on the Power accepting them, while they are in its custody. Nevertheless, if that Power fails to carry out the provisions of the present Convention in any important respect, the Power by which the protected persons were transferred shall, upon being so notified by the Protecting Power, take effective measures to correct the situation or shall request the return of the protected persons. Such request must be complied with.

    [...]

    Protected persons who are in occupied territory shall not be deprived, in any case or in any manner whatsoever, of the benefits of the present Convention by any change introduced, as the result of the occupation of a territory, into the institutions or government of the said territory, nor by any agreement concluded between the authorities of the occupied territories and the Occupying Power, nor by any annexation by the latter of the whole or part of the occupied territory.

    [...]

    The Occupying Power shall not deport or transfer parts of its own civilian population into the territory it occupies.

    [...]

    A special section of the Bureau set up in accordance with Article 136 shall be responsible for taking all necessary steps to identify children whose identity is in doubt. Particulars of their parents or other near relatives should always be recorded if available.

    [...]

    The Occupying Power may not compel protected persons to work unless they are over eighteen years of age, and then only on work which is necessary either for the needs of the army of occupation, or for the public utility services, or for the feeding, sheltering, clothing, transportation or health of the population of the occupied country. Protected persons may not be compelled to undertake any work which would involve them in the obligation of taking part in military operations. The Occupying Power may not compel protected persons to employ forcible means to ensure the security of the installations where they are performing compulsory labour.

    [...]

    If the whole or part of the population of an occupied territory is inadequately supplied, the Occupying Power shall agree to relief schemes on behalf of the said population, and shall facilitate them by all the means at its disposal.

    [...]

    All Contracting Parties shall permit the free passage of these consignments and shall guarantee their protection.

    A Power granting free passage to consignments on their way to territory occupied by an adverse Party to the conflict shall, however, have the right to search the consignments, to regulate their passage according to prescribed times and routes, and to be reasonably satisfied through the Protecting Power that these consignments are to be used for the relief of the needy population and are not to be used for the benefit of the Occupying Power.

    [...]

    All Contracting Parties shall endeavour to permit the transit and transport, free of charge, of such relief consignments on their way to occupied territories.

    [...]

    Decisions regarding such assigned residence or internment shall be made according to a regular procedure to be prescribed by the Occupying Power in accordance with the provisions of the present Convention. This procedure shall include the right of appeal for the parties concerned. Appeals shall be decided with the least possible delay. In the event of the decision being upheld, it shall be subject to periodical review, if possible every six months, by a competent body set up by the said Power.

    [...]

    The Parties to the conflict shall not intern protected persons, except in accordance with the provisions of Articles 41, 42, 43, 68 and 78.

    [...]

    Parties to the conflict who intern protected persons shall be bound to provide free of charge for their maintenance, and to grant them also the medical attention required by their state of health.

    [...]

    Chapter II
    Places of Internment

    [...]

    Ministers of religion who are interned shall be allowed to minister freely to the members of their community. For this purpose, the Detaining Power shall ensure their equitable allocation amongst the various places of internment in which there are internees speaking the same language and belonging to the same religion. Should such ministers be too few in number, the Detaining Power shall provide them with the necessary facilities, including means of transport, for moving from one place to another, and they shall be authorized to visit any internees who are in hospital. Ministers of religion shall be at liberty to correspond on matters concerning their ministry with the religious authorities in the country of detention and, as far as possible, with the international religious organizations of their faith. Such correspondence shall not be considered as forming a part of the quota mentioned in Article 107. It shall, however, be subject to the provisions of Article 112.

    [...]

    The Detaining Power shall encourage intellectual, educational and recreational pursuits, sports and games amongst internees, whilst leaving them free to take part in them or not. It shall take all practicable measures to ensure the exercise thereof, in particular by providing suitable premises.

    [...]

    All labour detachments shall remain part of and dependent upon a place of internment. The competent authorities of the Detaining Power and the commandant of a place of internment shall be responsible for the observance in a labour detachment of the provisions of the present Convention. The commandant shall keep an up-to-date list of the labour detachments subordinate to him and shall communicate it to the delegates of the Protecting Power, of the International Committee of the Red Cross and of other humanitarian organizations who may visit the places of internment.

    [...]

    All facilities shall likewise be accorded to members of Internee Committees for communication by post and telegraph with the detaining authorities, the Protecting Powers, the International Committee of the Red Cross and their delegates, and with the organizations which give assistance to internees. Committee members in labour detachments shall enjoy similar facilities for communication with their Internee Committee in the principal place of internment. Such communications shall not be limited, nor considered as forming a part of the quota mentioned in Article 107.

    [...]

    Immediately upon interning protected persons, the Detaining Powers shall inform them, the Power to which they owe allegiance and their Protecting Power of the measures taken for executing the provisions of the present Chapter. The Detaining Powers shall likewise inform the Parties concerned of any subsequent modifications of such measures.

    [...]

    As a rule, internees’ mail shall be written in their own language. The Parties to the conflict may authorize correspondence in other languages.

    [...]

    In the absence of special agreements between Parties to the conflict regarding the conditions for the receipt and distribution of collective relief shipments, the regulations concerning collective relief which are annexed to the present Convention shall be applied.

    [...]

    All matter sent by mail, including relief parcels sent by parcel post and remittances of money, addressed from other countries to internees or despatched by them through the post office, either direct or through the Information Bureaux provided for in Article 136 and the Central Information Agency provided for in Article 140, shall be exempt from all postal dues both in the countries of origin and destination and in intermediate countries. To this end, in particular, the exemption provided by the Universal Postal Convention of 1947 and by the agreements of the Universal Postal Union in favour of civilians of enemy nationality detained in camps or civilian prisons, shall be extended to the other interned persons protected by the present Convention. The countries not signatory to the above-mentioned agreements shall be bound to grant freedom from charges in the same circumstances.

    The cost of transporting relief shipments which are intended for internees and which, by reason of their weight or any other cause, cannot be sent through the post office, shall be borne by the Detaining Power in all the territories under its control. Other Powers which are Parties to the present Convention shall bear the cost of transport in their respective territories.

    [...]

    The High Contracting Parties shall endeavour to reduce, so far as possible, the charges for telegrams sent by internees, or addressed to them.

    [...]

    Should military operations prevent the Powers concerned from fulfilling their obligation to ensure the conveyance of the mail and relief shipments provided for in Articles 106, 107, 108 and 113, the Protecting Powers concerned, the International Committee of the Red Cross or any other organization duly approved by the Parties to the conflict may undertake the conveyance of such shipments by suitable means (rail, motor vehicles, vessels or aircraft; etc.). For this purpose, the High Contracting Parties shall endeavour to supply them with such transport, and to allow its circulation, especially by granting the necessary safe-conducts.

    Such transport may also be used to convey:

    • (a) correspondence, lists and reports exchanged between the Central Information Agency referred to in Article 140 and the National Bureaux referred to in Article 136;

    • (b) correspondence and reports relating to internees which the Protecting Powers, the International Committee of the Red Cross or any other organization assisting the internees exchange either with their own delegates or with the Parties to the conflict.

    These provisions in no way detract from the right of any Party to the conflict to arrange other means of transport if it should so prefer, nor preclude the granting of safe-conducts, under mutually agreed conditions, to such means of transport.

    The costs occasioned by the use of such means of transport shall be borne, in proportion to the importance of the shipments, by the Parties to the conflict whose nationals are benefited thereby.

    [...]

    Any prohibition of correspondence ordered by the Parties to the conflict either for military or political reasons, shall be only temporary and its duration shall be as short as possible.

    [...]

    In all cases where an internee is a party to proceedings in any court, the Detaining Power shall, if he so requests, cause the court to be informed of his detention and shall, within legal limits, ensure that all necessary steps are taken to prevent him from being in any way prejudiced, by reason of his internment, as regards the preparation and conduct of his case or as regards the execution of any judgment of the court.

    [...]

    The disciplinary punishments applicable to internees shall be the following:

    • (1) A fine which shall not exceed 50 per cent of the wages which the internee would otherwise receive under the provisions of Article 95 during a period of not more than thirty days.

    [...]

    The Parties to the conflict shall ensure that the competent authorities exercise leniency in deciding whether punishment inflicted for an offence shall be of a disciplinary or judicial nature, especially in respect of acts committed in connection with an escape, whether successful or not.

    [...]

    As soon as circumstances permit, and not later than the close of hostilities, the Detaining Power shall forward lists of graves of deceased internees to the Powers on whom the deceased internees depended, through the Information Bureaux provided for in Article 136. Such lists shall include all particulars necessary for the identification of the deceased internees, as well as the exact location of their graves.

    [...]

    The Parties to the conflict shall, moreover, endeavour during the course of hostilities, to conclude agreements for the release, the repatriation, the return to places of residence or the accommodation in a neutral country of certain classes of internees, in particular children, pregnant women and mothers with infants and young children, wounded and sick, and internees who have been detained for a long time.

    [...]

    Internees in the territory of a Party to the conflict against whom penal proceedings are pending for offences not exclusively subject to disciplinary penalties, may be detained until the close of such proceedings and, if circumstances require, until the completion of the penalty. The same shall apply to internees who have been previously sentenced to a punishment depriving them of liberty.

    [...]

    The High Contracting Parties shall endeavour, upon the close of hostilities or occupation, to ensure the return of all internees to their last place of residence, or to facilitate their repatriation.

    [...]

    The foregoing shall not prejudice such special agreements as may be concluded between Parties to the conflict concerning the exchange and repatriation of their nationals in enemy hands.

    [...]

    Article 136

    Upon the outbreak of a conflict and in all cases of occupation, each of the Parties to the conflict shall establish an official Information Bureau responsible for receiving and transmitting information in respect of the protected persons who are in its power.

    Each of the Parties to the conflict shall, within the shortest possible period, give its Bureau information of any measure taken by it concerning any protected persons who are kept in custody for more than two weeks, who are subjected to assigned residence or who are interned. It shall, furthermore, require its various departments concerned with such matters to provide the aforesaid Bureau promptly with information concerning all changes pertaining to these protected persons, as, for example, transfers, releases, repatriations, escapes, admittances to hospitals, births and deaths.

    [...]

    Each national Information Bureau shall, furthermore, be responsible for collecting all personal valuables left by protected persons mentioned in Article 136, in particular those who have been repatriated or released, or who have escaped or died; it shall forward the said valuables to those concerned, either direct, or, if necessary, through the Central Agency. Such articles shall be sent by the Bureau in sealed packets which shall be accompanied by statements giving clear and full identity particulars of the person to whom the articles belonged, and by a complete list of the contents of the parcel. Detailed records shall be maintained of the receipt and despatch of all such valuables.

    [...]

    The function of the Agency shall be to collect all information of the type set forth in Article 136 which it may obtain through official or private channels and to transmit it as rapidly as possible to the countries of origin or of residence of the persons concerned, except in cases where such transmissions might be detrimental to the persons whom the said information concerns, or to their relatives. It shall receive from the Parties to the conflict all reasonable facilities for effecting such transmissions.

    The High Contracting Parties, and in particular those whose nationals benefit by the services of the Central Agency, are requested to give the said Agency the financial aid it may require.

    [...]

    PART IV
    Execution of the Convention

    [...]

    The High Contracting Parties undertake, in time of peace as in time of war, to disseminate the text of the present Convention as widely as possible in their respective countries, and, in particular, to include the study thereof in their programmes of military and, if possible, civil instruction, so that the principles thereof may become known to the entire population.

    [...]

    The High Contracting Parties shall communicate to one another through the Swiss Federal Council and, during hostilities, through the Protecting Powers, the official translations of the present Convention, as well as the laws and regulations which they may adopt to ensure the application thereof.

    [...]

    The High Contracting Parties undertake to enact any legislation necessary to provide effective penal sanctions for persons committing, or ordering to be committed, any of the grave breaches of the present Convention defined in the following Article.

    Each High Contracting Party shall be under the obligation to search for persons alleged to have committed, or to have ordered to be committed, such grave breaches, and shall bring such persons, regardless of their nationality, before its own courts. It may also, if it prefers, and in accordance with the provisions of its own legislation, hand such persons over for trial to another High Contracting Party concerned, provided such High Contracting Party has made out a prima facie case.

    Each High Contracting Party shall take measures necessary for the suppression of all acts contrary to the provisions of the present Convention other than the grave breaches defined in the following Article.

    [...]

    No High Contracting Party shall be allowed to absolve itself or any other High Contracting Party of any liability incurred by itself or by another High Contracting Party in respect of breaches referred to in the preceding Article.

    [...]

    At the request of a Party to the conflict, an enquiry shall be instituted, in a manner to be decided between the interested Parties, concerning any alleged violation of the Convention.

    If agreement has not been reached concerning the procedure for the enquiry, the Parties should agree on the choice of an umpire who will decide upon the procedure to be followed.

    Once the violation has been established, the Parties to the conflict shall put an end to it and shall repress it with the least possible delay.

    Section II
    Final Provisions

    [...]

    Thereafter, it shall come into force for each High Contracting Party six months after the deposit of the instrument of ratification.

    [...]

    In the relations between the Powers who are bound by The Hague Conventions respecting the Laws and Customs of War on Land, whether that of July 29, 1899, or that of October 18, 1907, and who are parties to the present Convention, this last Convention shall be supplementary to Sections II and III of the Regulations annexed to the above mentioned Conventions of The Hague.

    [...]

    The situations provided for in Articles 2 and 3 shall give immediate effect to ratifications deposited and accessions notified by the Parties to the conflict before or after the beginning of hostilities or occupation. The Swiss Federal Council shall communicate by the quickest method any ratifications or accessions received from Parties to the conflict.

    [...]

    Each of the High Contracting Parties shall be at liberty to denounce the present Convention.

    The denunciation shall be notified in writing to the Swiss Federal Council, which shall transmit it to the Governments of all the High Contracting Parties.

    [...]

    The denunciation shall have effect only in respect of the denouncing Power. It shall in no way impair the obligations which the Parties to the conflict shall remain bound to fulfil by virtue of the principles of the law of nations, as they result from the usages established among civilized peoples, from the laws of humanity and the dictates of the public conscience.

    [...]


  2. Excise Tax Act - R.S.C., 1985, c. E-15 (Section 123)
    Marginal note:Definitions
    •  (1) In section 121, this Part and Schedules V to X,

      assessment

      assessment  means an assessment under this Part and includes a reassessment under this Part; (cotisation)

      basic tax content

      basic tax content , at a particular time, of property of a person means

      • (a) except where paragraph (b) applies, the amount determined by the formula

        (A - B) × C

        where

        A 
        is the total of
        • [...]

        • (ii) the tax that was payable by the person in respect of improvements to the property acquired, imported or brought into a participating province by the person after the property was last acquired or imported by the person,

        • [...]

        • (v) all amounts determined by the formula

          D × E × F/G

          where

          D 
          is an amount of tax (other than tax that the person was exempt from paying under any other Act or law) under subsection 165(1) or section 212 or 218 referred to in any of subparagraphs (i) to (iii) of the description of A that became payable, or would have become payable in the circumstances described in that subparagraph, by the person while the person was a selected listed financial institution,
          G 
          is
          • (A) 7%, if the amount determined for D is included, or would be included if the tax became payable, in the description of A in subsection 225.2(2) for a reporting period of the selected listed financial institution that ends before July 1, 2006,

          • (B) 6%, if the amount determined for D is included, or would be included if the tax became payable, in the description of A in subsection 225.2(2) for a reporting period of the selected listed financial institution that ends after June 30, 2006, but before January 1, 2008, and

        B 
        is the total of
        • [...]

        • (ii) all tax (other than tax referred to in subparagraph (i)) under subsection 165(2) and section 212.1 referred to in any of subparagraphs (i) to (iv) of the description of A that became payable by the person, or would have become payable by the person in the circumstances described in that subparagraph, while the person was a selected listed financial institution,

        • (iii) all amounts (other than input tax credits and amounts referred to in subparagraphs (i) and (ii)) in respect of tax referred to in subparagraphs (i) and (ii) of the description of A that the person was entitled to recover by way of rebate, refund, remission or otherwise under this or any other Act or law or would have been entitled to so recover if the property or improvement had been acquired for use exclusively in activities that are not commercial activities, and

        • (iv) all amounts (other than input tax credits and amounts referred to in subparagraphs (i) and (ii)) in respect of tax referred to in subparagraphs (iii) and (iv) of the description of A that the person would have been entitled to recover by way of rebate, refund, remission or otherwise under this or any other Act or law if that tax had been payable and the property or improvement had been acquired for use exclusively in activities that are not commercial activities, and

        C 
        is the lesser of 1 and the fraction

        H/I

        where

        I 
        is the total of
        • [...]

        • (ii) where the person acquired or imported improvements to the property after the property was last so acquired or imported, the total of all amounts each of which is the value of the consideration for a supply to the person of such an improvement or, where such an improvement is property that was imported or brought into a participating province by the person, the value of the property determined under section 215 or subsection 220.05(1), 220.06(1) or 220.07(3), as the case may require, and

      • (b) if the person brought the property into a participating province from another province for consumption, use or supply in the participating province in circumstances in which the person was required to pay tax in respect of the property under section 220.05, or would have been required to pay that tax but for the fact that the property was brought into that province for consumption, use or supply exclusively in commercial activities or the person was exempt from paying that tax under any other Act or law, the amount determined by the formula

        (J - K) × L

        where

        J 
        is the total of
        • [...]

        • (ii) the tax that became payable by the person in respect of the property under section 220.05 when the property was brought into the participating province,

        • [...]

        • (vi) all amounts determined by the formula

          M × N × O/P

          where

          M 
          is an amount of tax (other than tax that the person was exempt from paying under any other Act or law) under subsection 165(1) or section 212 or 218 referred to in subparagraph (iii) or (iv) of the description of J that became payable, or would have become payable in the circumstances described in that subparagraph, by the person after the property was brought into the participating province and while the person was a selected listed financial institution,
          P 
          is
          • (A) 7%, if the amount determined for M is included, or would be included if the tax became payable, in the description of A in subsection 225.2(2) for a reporting period of the selected listed financial institution that ends before July 1, 2006,

          • (B) 6%, if the amount determined for M is included, or would be included if the tax became payable, in the description of A in subsection 225.2(2) for a reporting period of the selected listed financial institution that ends after June 30, 2006, but before January 1, 2008, and

        K 
        is the total of
        • (i) all tax referred to in subparagraphs (ii) to (v) of the description of J that the person was exempt from paying under any other Act or law,

        • (ii) all tax (other than tax referred to in subparagraph (i)) under subsection 165(2) and section 212.1 referred to in any of subparagraphs (ii) to (v) of the description of J that became payable by the person, or would have become payable by the person in the circumstances described in that subparagraph, while the person was a selected listed financial institution,

        • (iii) all amounts (other than input tax credits and amounts referred to in subparagraphs (i) and (ii)) in respect of tax referred to in subparagraphs (ii) and (iii) of the description of J that the person was entitled to recover by way of rebate, refund, remission or otherwise under this or any other Act or law or would have been entitled to so recover if the property or improvement had been acquired for use exclusively in activities that are not commercial activities, and

        • (iv) all amounts (other than input tax credits and amounts referred to in subparagraphs (i) and (ii)) in respect of tax referred to in subparagraphs (iv) and (v) of the description of J that the person would have been entitled to recover by way of rebate, refund, remission or otherwise under this or any other Act or law if that tax had been payable and the property or improvement had been acquired for use exclusively in activities that are not commercial activities, and

        L 
        is lesser of 1 and the fraction

        Q/R

        where

        R 
        is the total of
        • (i) the value of the property determined under subsection 220.05(1), 220.06(1) or 220.07(3), as the case may require, at the time the property was brought into the participating province, and

        • (ii) where the person acquired or imported improvements to the property after the property was brought into the participating province, the total of all amounts each of which is the value of the consideration for a supply to the person of such an improvement or, where such an improvement is property that was imported or brought into a participating province by the person, the value of the improvement determined under section 215 or subsection 220.05(1), 220.06(1) or 220.07(3), as the case may require; (teneur en taxe)

      builder

      builder  of a residential complex or of an addition to a multiple unit residential complex means a person who

      • (a) at a time when the person has an interest in the real property on which the complex is situated, carries on or engages another person to carry on for the person

        • [...]

        • (ii) [Repealed, 2014, c. 39, s. 92]

      • (b) acquires an interest in the complex at a time when

        • [...]

        • (ii) in any other case, the complex is under construction or substantial renovation,

      • [...]

      • (d) acquires an interest in the complex

        • [...]

        • (ii) in any case, before it has been occupied by an individual as a place of residence or lodging,

        [...]

        • (iii) making one or more supplies of the complex or parts thereof or interests therein by way of sale, or

        • (iv) making one or more supplies of the complex or parts thereof by way of lease, licence or similar arrangement to persons other than to individuals who are acquiring the complex or parts otherwise than in the course of a business or an adventure or concern in the nature of trade, or

      • (e) in any case, is deemed under subsection 190(1) to be a builder of the complex,

      [...]

      • (f) an individual described in paragraph (a), (b) or (d) who

        • [...]

        • (ii) engages another person to carry on the construction or substantial renovation for the individual, or

        [...]

      capital property

      capital property , in respect of a person, means property that is, or would be if the person were a taxpayer under the Income Tax Act, capital property of the person within the meaning of that Act, other than property described in Class 12, 14, 14.1 or 44 of Schedule II to the Income Tax Regulations; (immobilisation)

      carrier

      carrier  means a person who supplies a freight transportation service within the meaning assigned by subsection 1(1) of Part VII of Schedule VI; (transporteur)

      charity

      charity  means a registered charity or registered Canadian amateur athletic association within the meaning assigned to those expressions by subsection 248(1) of the Income Tax Act, but does not include a public institution; (organisme de bienfaisance)

      convention

      convention  means a formal meeting or assembly that is not open to the general public, but does not include a meeting or assembly the principal purpose of which is

      • [...]

      • (c) to transact the business of the convenor or attendees

        • [...]

        • (ii) otherwise than in the course of a trade show; (congrès)

      cooperative corporation

      cooperative corporation  means a cooperative housing corporation and any other cooperative corporation within the meaning assigned by subsection 136(2) of the Income Tax Act; (coopérative)

      courier

      courier  has the meaning assigned by subsection 2(1) of the Customs Act; (messager)

      designated municipal property

      designated municipal property  means property

      • [...]

      • (c) in respect of which, or in respect of an improvement to which, an amount included in the total tax charged in respect of the property or service under paragraph (a) of the definition non-creditable tax charged in subsection 259(1) is

        • [...]

        • (ii) an amount deemed to have been paid or collected at that time by the person,

      direct cost

      direct cost  of a supply of tangible personal property or a service means the total of all amounts each of which is the consideration paid or payable by the supplier

      • [...]

      • (b) for an article or material (other than capital property of the supplier) that was purchased by the supplier, to the extent that the article or material is to be incorporated into or is to form a constituent or component part of the property, or is to be consumed or expended directly in the process of manufacturing, producing, processing or packaging the property

      [...]

      • (c) tax under this Part payable by the supplier in respect of the acquisition or importation of the property or service by the supplier,

      • (d) if the property was brought into a participating province from another province, any tax under this Part payable by the supplier in respect of the bringing in of the property into the participating province, and

      • (e) any tax, duty or fee payable in respect of the acquisition or importation of the property or service by the supplier and prescribed for the purposes of section 154, excluding the portion of the tax (other than tax that became payable under the first paragraph of section 16 of An Act respecting the Québec sales tax, R.S.Q., c. T-0.1, by the supplier at a time when the supplier was a registrant as defined in section 1 of that Act), duty or fee that is recovered or recoverable by the supplier; (coût direct)

      emission allowance

      emission allowance  means

      • (a) an allowance, credit or similar instrument (other than a prescribed allowance, credit or instrument) that

        • [...]

        • (ii) can be used to satisfy a requirement under

          [...]

      financial service

      financial service  means

      • [...]

      • (j) the service of investigating and recommending the compensation in satisfaction of a claim where

        • [...]

        • (ii) the claim is made under an insurance policy that is not in the nature of accident and sickness or life insurance and

          [...]

      • [...]

      • (k) any supply deemed by subsection 150(1) or section 158 to be a supply of a financial service,

      • (l) the agreeing to provide, or the arranging for, a service that is

        • [...]

        • (ii) not referred to in any of paragraphs (n) to (t), or

      [...]

      • [...]

      • (q) the provision, to an investment plan (as defined in subsection 149(5)) or any corporation, partnership or trust whose principal activity is the investing of funds, of

        • [...]

        • (ii) any other service (other than a prescribed service),

        [...]

      • [...]

      • (r.2) a debt collection service, rendered under an agreement between a person agreeing to provide, or arranging for, the service and a particular person other than the debtor, in respect of all or part of a debt, including a service of attempting to collect, arranging for the collection of, negotiating the payment of, or realizing or attempting to realize on any security given for, the debt, but does not include a service that consists solely of accepting from a person (other than the particular person) a payment of all or part of an account unless

        • (i) under the terms of the agreement the person rendering the service may attempt to collect all or part of the account or may realize or attempt to realize on any security given for the account, or

        • (ii) the principal business of the person rendering the service is the collection of debt,

      • (r.3) a service (other than a prescribed service) of managing credit that is in respect of credit cards, charge cards, credit accounts, charge accounts, loan accounts or accounts in respect of any advance and is provided to a person granting, or potentially granting, credit in respect of those cards or accounts, including a service provided to the person of

        • [...]

        • (ii) making decisions on behalf of the person in relation to a grant, or an application for a grant, of credit,

      • (r.4) a service (other than a prescribed service) that is preparatory to the provision or the potential provision of a service referred to in any of paragraphs (a) to (i) and (l), or that is provided in conjunction with a service referred to in any of those paragraphs, and that is

        • [...]

        • (ii) a market research, product design, document preparation, document processing, customer assistance, promotional or advertising service or a similar service,

      • [...]

      • (s) any service the supply of which is deemed under this Part to be a taxable supply, or

      harmonization date

      harmonization date  for a participating province means

      • (a) April 1, 1997 in the case of Nova Scotia, New Brunswick, Newfoundland and Labrador, the Nova Scotia offshore area or the Newfoundland offshore area,

      • (b) July 1, 2010 in the case of Ontario, and

      hospital authority

      hospital authority  means an organization that operates a public hospital and that is designated by the Minister as a hospital authority for the purposes of this Part; (administration hospitalière)

      insurance policy

      insurance policy  means

      • (a) a policy or contract of insurance (other than a warranty in respect of the quality, fitness or performance of tangible property, where the warranty is supplied to a person who acquires the property otherwise than for resale) that is issued by an insurer, including

        • [...]

        • (ii) an annuity contract issued by an insurer, or a contract issued by an insurer that would be an annuity contract except that the payments under the contract

          [...]

        • (iii) a contract issued by an insurer all or part of the insurer’s reserves for which vary in amount depending on the value of a specified group of assets,

      investment limited partnership

      investment limited partnership  means a limited partnership, the primary purpose of which is to invest funds in property consisting primarily of financial instruments, if

      • (a) the limited partnership is, or forms part of an arrangement or structure that is, represented or promoted as a hedge fund, investment limited partnership, mutual fund, private equity fund, venture capital fund or other similar collective investment vehicle, or

      listed financial institution

      listed financial institution  means a person referred to in paragraph 149(1)(a); (institution financière désignée)

      master pension entity

      master pension entity  of a pension plan means a person that is not a pension entity of the pension plan and that is

      • (a) a corporation described in paragraph 149(1)(o.2) of the Income Tax Act, one or more shares of which are owned by a pension entity of the pension plan, or

      • (b) a trust prescribed to be a master trust for the purposes of paragraph 149(1)(o.4) of the Income Tax Act, one or more units of which are owned by a pension entity of the pension plan; (entité de gestion principale)

      municipality

      municipality  means

      • [...]

      • (b) such other local authority as the Minister may determine to be a municipality for the purposes of this Part; (municipalité)

      new harmonized value-added tax system

      new harmonized value-added tax system  has the same meaning as in subsection 277.1(1); (nouveau régime de la taxe à valeur ajoutée harmonisée)

      non-profit organization

      non-profit organization  means a person (other than an individual, an estate, a trust, a charity, a public institution, a municipality or a government) that was organized and is operated solely for a purpose other than profit, no part of the income of which is payable to, or otherwise available for the personal benefit of, any proprietor, member or shareholder thereof unless the proprietor, member or shareholder is a club, a society or an association the primary purpose and function of which is the promotion of amateur athletics in Canada; (organisme à but non lucratif)

      office

      office  has the meaning assigned by subsection 248(1) of the Income Tax Act, but does not include

      • [...]

      • (b) the position of receiver (including the position of a receiver within the meaning assigned by subsection 266(1)), or

      offshore activity

      offshore activity  means

      participating employer

      participating employer  of a pension plan means

      • (a) in the case of a registered pension plan, an employer that has made, or is required to make, contributions to the pension plan in respect of the employer’s employees or former employees, or payments under the pension plan to the employer’s employees or former employees, and includes an employer prescribed for the purposes of the definition participating employer in subsection 147.1(1) of the Income Tax Act, and

      • (b) in the case of a pooled registered pension plan, an employer that

        • [...]

        • (ii) has remitted, or is required to remit, to the PRPP administrator of the pension plan contributions made by members (as defined in subsection 147.5(1) of the Income Tax Act) of the pension plan under a contract with the PRPP administrator in respect of all or a class of its employees; (employeur participant)

      passenger vehicle

      passenger vehicle  means a passenger vehicle or a zero-emission passenger vehicle, as those terms are defined in subsection 248(1) of the Income Tax Act; (voiture de tourisme)

      pension plan

      pension plan  means a registered pension plan or a pooled registered pension plan

      • [...]

      • (b) in respect of which a corporation

        • (i) is incorporated and operated either

          • [...]

          • (B) for the administration of the plan and for no other purpose other than acting as trustee of, or administering, a trust governed by a retirement compensation arrangement (as defined in subsection 248(1) of the Income Tax Act), where the terms of the arrangement provide for benefits only in respect of individuals who are provided with benefits under the plan,

        • (ii) in the case of a registered pension plan, is accepted by the Minister, under subparagraph 149(1)(o.1)(ii) of the Income Tax Act, as a funding medium for the purpose of the registration of the plan under that Act, and

        • (iii) in the case of a pooled registered pension plan, is a corporation

          • (A) that is described in paragraph 149(1)(o.2) of the Income Tax Act, and

      permanent establishment

      permanent establishment , in respect of a particular person, means

      • (a) a fixed place of business of the particular person, including

        • [...]

        • (ii) a mine, an oil or gas well, a quarry, timberland or any other place of extraction of natural resources,

        [...]

      personal trust

      personal trust  means

      • [...]

      • (b) an inter vivos trust that is a personal trust (within the meaning assigned by subsection 248(1) of the Income Tax Act) all the beneficiaries (other than contingent beneficiaries) of which are individuals and all the contingent beneficiaries of which, if any, are individuals, charities or public institutions; (fiducie personnelle)

      place of amusement

      place of amusement  means any premises or place, whether or not enclosed, at or in any part of which is staged or held any

      [...]

      PRPP administrator

      PRPP administrator  of a pooled registered pension plan has the meaning assigned by the definition administrator  in subsection 147.5(1) of the Income Tax Act; (administrateur de RPAC)

      public institution

      public institution  means a registered charity (within the meaning assigned by subsection 248(1) of the Income Tax Act) that is a school authority, a public college, a university, a hospital authority or a local authority determined under paragraph (b) of the definition municipality to be a municipality; (institution publique)

      recipient

      recipient  of a supply of property or a service means

      • [...]

      • (c) where no consideration is payable for the supply,

        • [...]

        • (ii) in the case of a supply of property otherwise than by way of sale, the person to whom possession or use of the property is given or made available, and

      [...]

      related convention supplies

      related convention supplies  means property or services acquired, imported or brought into a participating province by a person exclusively for consumption, use or supply by the person in connection with a convention, but does not include

      • [...]

      • (c) except for the purposes of subsection 167.2(1) and section 252.4, property or services that are food or beverages or are supplied to the person under a contract for catering, or

      residential complex

      residential complex  means

      • (a) that part of a building in which one or more residential units are located, together with

        • (i) that part of any common areas and other appurtenances to the building and the land immediately contiguous to the building that is reasonably necessary for the use and enjoyment of the building as a place of residence for individuals, and

        • (ii) that proportion of the land subjacent to the building that that part of the building is of the whole building,

      • (b) that part of a building that is

        • (i) the whole or part of a semi-detached house, rowhouse unit, residential condominium unit or other similar premises that is, or is intended to be, a separate parcel or other division of real property owned, or intended to be owned, apart from any other unit in the building, and

        • (ii) a residential unit,

        [...]

      • (c) the whole of a building described in paragraph (a), or the whole of a premises described in subparagraph (b)(i), that is owned by or has been supplied by way of sale to an individual and that is used primarily as a place of residence of the individual, an individual related to the individual or a former spouse or common-law partner of the individual, together with

        • (i) in the case of a building described in paragraph (a), any appurtenances to the building, the land subjacent to the building and that part of the land immediately contiguous to the building, that are reasonably necessary for the use and enjoyment of the building, and

        • (ii) in the case of a premises described in subparagraph (b)(i), that part of any common areas and other appurtenances to the building and the land subjacent or immediately contiguous to the building that is attributable to the unit and that is reasonably necessary for the use and enjoyment of the unit,

      but does not include a building, or that part of a building, that is a hotel, a motel, an inn, a boarding house, a lodging house or other similar premises, or the land and appurtenances attributable to the building or part, where the building is not described in paragraph (c) and all or substantially all of the leases, licences or similar arrangements, under which residential units in the building or part are supplied, provide, or are expected to provide, for periods of continuous possession or use of less than sixty days; (immeuble d’habitation)

      residential trailer park

      residential trailer park  of a person means the land that is included in a trailer park of the person or, where the person has two or more trailer parks that are immediately contiguous to each other, the land that is included in those contiguous trailer parks, and any buildings, fixtures and other appurtenances to the land that are reasonably necessary for

      [...]

      but does not include such land and appurtenances or any part of them unless the land encompasses at least two sites and all or substantially all of the sites in the trailer parks

      • (c) are supplied, or are intended to be supplied, under a lease, licence or similar arrangement under which continuous possession or use of a site is provided for a period of at least

        • [...]

        • (ii) twelve months, in the case of a travel trailer, motor home or similar vehicle or trailer that is not a residential unit, and

      residential unit

      residential unit  means

      [...]

      or that part thereof that

      [...]

      sales tax harmonization agreement

      sales tax harmonization agreement  has the same meaning as in subsection 2(1) of the Federal-Provincial Fiscal Arrangements Act; (accord d’harmonisation de la taxe de vente)

      secured creditor

      secured creditor  means

      • [...]

      • (b) a person who acts for or on behalf of the particular person with respect to the security interest and includes

        • [...]

        • (ii) a receiver or receiver-manager appointed by the particular person or appointed by a court on the application of the particular person,

      segregated fund

      segregated fund  of an insurer means a specified group of properties that is held in respect of insurance policies all or part of the reserves for which vary in amount depending on the fair market value of the properties; (fonds réservé)

      selected listed financial institution

      selected listed financial institution  means, at any time, a listed financial institution who is at that time a selected listed financial institution under subsection 225.2(1); (institution financière désignée particulière)

      self-contained domestic establishment

      self-contained domestic establishment  has the meaning assigned by subsection 248(1) of the Income Tax Act; (établissement domestique autonome)

      short-term accommodation

      short-term accommodation  means a residential complex or a residential unit that is supplied to a recipient by way of lease, licence or similar arrangement for the purpose of its occupancy by an individual as a place of residence or lodging, if the period throughout which the individual is given continuous occupancy of the complex or unit is less than one month and, for the purposes of section 252.4,

      • (a) includes any type of overnight shelter (other than shelter on a train, trailer, boat or structure that has means of, or is capable of being readily adapted for, self-propulsion) when supplied as part of a tour package (within the meaning assigned by subsection 163(3)) that also includes food and the services of a guide, and

      • (b) does not include a complex or unit when it

        • [...]

        • (ii) is included in that part of a tour package that is not the taxable portion of the tour package (within the meaning assigned to those expressions by subsection 163(3)); (logement provisoire)

      specified Crown agent

      specified Crown agent  means

      • [...]

      • (b) an agent of Her Majesty in right of a province

        • [...]

        • (ii) that is prescribed; (mandataire de la Couronne désigné)

      substantial renovation

      substantial renovation  of a residential complex means the renovation or alteration of the whole or that part of a building, as described in whichever of paragraphs (a) to (e) of the definition residential complex is applicable to the residential complex, in which one or more residential units are located to such an extent that all or substantially all of the building or part, as the case may be, other than the foundation, external walls, interior supporting walls, floors, roof, staircases and, in the case of that part of a building described in paragraph (b) of that definition, the common areas and other appurtenances, that existed immediately before the renovation or alteration was begun has been removed or replaced if, after completion of the renovation or alteration, the building or part, as the case may be, is, or forms part of, a residential complex; (rénovations majeures)

      tax

      tax  means tax payable under this Part; (taxe)

      taxation year

      taxation year  of a person means

      • (a) where the person is a taxpayer, within the meaning of that term in the Income Tax Act (other than an unincorporated person exempt because of subsection 149(1) of that Act from tax under Part I of that Act on all or part of the person’s taxable income), the taxation year of the person for the purposes of that Act,

      • (b) where the person is a partnership described in subparagraph 249.1(1)(b)(ii) of that Act, the fiscal period of the person’s business determined under subsection 249.1(1) of that Act, and

      • (c) in any other case, the period that would be the taxation year of the person for the purposes of that Act if the person were a corporation other than a professional corporation (within the meaning assigned by subsection 248(1) of that Act); (année d’imposition)

      taxi business

      taxi business  means

      • [...]

      • (b) a business carried on in Canada by a person of transporting passengers for fares by motor vehicle — being a vehicle that would be an automobile, as defined in subsection 248(1) of the Income Tax Act, if that definition were read without reference to “a motor vehicle acquired primarily for use as a taxi,” in its paragraph (c) and without reference to its paragraph (e) — within a particular municipality and its environs if the transportation is arranged or coordinated through an electronic platform or system, other than

        • (i) the part of the business that does not involve the making of taxable supplies by the person,

        • (ii) the part of the business that is the operation of a sightseeing service or the school transportation of elementary or secondary students, or

      telecommunications facility

      telecommunications facility  means any facility, apparatus or other thing (including any wire, cable, radio, optical or other electromagnetic system, or any similar technical system, or any part thereof) that is used or is capable of being used for telecommunications; (installation de télécommunication)

      testamentary trust

      testamentary trust  has the meaning assigned by subsection 248(1) of the Income Tax Act; (fiducie testamentaire)

      trailer park

      trailer park  of a person means a piece of land that is owned by or leased to the person and that is exclusively composed of

      • [...]

      • (b) other land that is reasonably necessary for

        • [...]

        • (ii) the purpose of engaging in the business of supplying the sites by way of lease, licence or similar arrangement; (parc à roulottes)

    • Marginal note:Meaning of Canada

      (2) Subject to subsection (3), in this Part, Canada includes

      [...]

    • [...]

    • Marginal note:Application of provisions to schedules

      (4) Any provision of this Part that applies for the purposes of this Part also applies for the purposes of Schedules V to X.

    1990, c. 45, s. 12; 1993, c. 27, ss. 10, 204(F); 1994, c. 9, s. 2, c. 13, s. 7; 1996, c. 21, s. 64; 1997, c. 10, ss. 1, 150, 255; 1998, c. 19, s. 281; 1999, c. 17, s. 152, c. 28, s. 159; 2000, c. 12, ss. 111, 113, c. 30, s. 18; 2001, c. 17, s. 236; 2002, c. 22, s. 387; 2004, c. 22, s. 29; 2005, c. 38, s. 104; 2006, c. 4, ss. 2, 136; 2007, c. 18, s. 2, c. 35, s. 183; 2009, c. 32, s. 2; 2010, c. 12, s. 55; 2011, c. 15, s. 11; 2012, c. 19, s. 20, c. 31, s. 74; 2014, c. 13, ss. 101, 115, c. 39, s. 92; 2016, c. 12, s. 89; 2017, c. 20, s. 35, c. 33, ss. 106, 162(F); 2018, c. 12, s. 95, c. 27, s. 41; 2019, c. 29, s. 70.

  3. Asian Infrastructure Investment Bank Agreement Act - S.C. 2017, c. 33, s. 176 (SCHEDULE : Asian Infrastructure Investment Bank)

    [...]

    [...]

    Article 1 Purpose

    • 1 The purpose of the Bank shall be to: (i) foster sustainable economic development, create wealth and improve infrastructure connectivity in Asia by investing in infrastructure and other productive sectors; and (ii) promote regional cooperation and partnership in addressing development challenges by working in close collaboration with other multilateral and bilateral development institutions.

    [...]

    To implement its purpose, the Bank shall have the following functions:

    • [...]

    • (ii) to utilize the resources at its disposal for financing such development in the region, including those projects and programs which will contribute most effectively to the harmonious economic growth of the region as a whole and having special regard to the needs of less developed members in the region;

    [...]

    • 1 Membership in the Bank shall be open to members of the International Bank for Reconstruction and Development or the Asian Development Bank.

      • (a) Regional members shall be those members listed in Part A of Schedule A and other members included in the Asia region in accordance with paragraph 2 of Article 1. All other members shall be non-regional members.

      • (b) Founding Members shall be those members listed in Schedule A which, on or before the date specified in Article 57, shall have signed this Agreement and shall have fulfilled all other conditions of membership before the final date specified under paragraph 1 of Article 58.

    CHAPTER II
    Capital

    [...]

    • 1 The authorized capital stock of the Bank shall be one hundred billion United States dollars ($100,000,000,000), divided into one million (1,000,000) shares having a par value of 100,000 dollars ($100,000) each, which shall be available for subscription only by members in accordance with the provisions of Article 5.

    [...]

    • 1 Each member shall subscribe to shares of the capital stock of the Bank. Each subscription to the original authorized capital stock shall be for paid-in shares and callable shares in the proportion two (2) to eight (8). The initial number of shares available to be subscribed by countries which become members in accordance with Article 58 shall be that set forth in Schedule A.

    • [...]

    • 4 The Board of Governors shall at intervals of not more than five (5) years review the capital stock of the Bank. In case of an increase in the authorized capital stock, each member shall have a reasonable opportunity to subscribe, under such terms and conditions as the Board of Governors shall determine, to a proportion of the increase of stock equivalent to the proportion which its stock theretofore subscribed bears to the total subscribed capital stock immediately prior to such increase. No member shall be obligated to subscribe to any part of an increase of capital stock.

    [...]

    • 1 Payment of the amount initially subscribed by each Signatory to this Agreement which becomes a member in accordance with Article 58 to the paid-in capital stock of the Bank shall be made in five (5) installments, of twenty (20) per cent each of such amount, except as provided in paragraph 5 of this Article. The first installment shall be paid by each member within thirty (30) days after entry into force of this Agreement, or on or before the date of deposit on its behalf of its instrument of ratification, acceptance or approval in accordance with paragraph 1 of Article 58, whichever is later. The second installment shall become due one (1) year from the entry into force of this Agreement. The remaining three (3) installments shall become due successively one (1) year from the date on which the preceding installment becomes due.

    • [...]

    • 4 The Bank shall determine the place for any payment under this Article, provided that, until the inaugural meeting of the Board of Governors, the payment of the first installment referred to in paragraph 1 of this Article shall be made to the Government of the People’s Republic of China, as Trustee for the Bank.

    • 5 A member considered as a less developed country for purposes of this paragraph may pay its subscription under paragraphs 1 and 2 of this Article, as an alternative, either:

      • (a) entirely in dollars or other convertible currency in up to ten (10) installments, with each such installment equal to ten (10) percent of the total amount, the first and second installments due as provided in paragraph 1, and the third through tenth installments due on the second and subsequent anniversary dates of the entry into force of this Agreement; or

      • (b) with a portion in dollars or other convertible currency and a portion of up to fifty (50) per cent of each installment in the currency of the member, following the schedule of installments provided in paragraph 1 of this Article. The following provisions shall apply to payments under this sub-paragraph (b):

        • (i) The member shall advise the Bank at the time of subscription under paragraph 1 of this Article of the proportion of payments to be made in its own currency.

        • (ii) Each payment of a member in its own currency under this paragraph 5 shall be in such amount as the Bank determines to be equivalent to the full value in terms of dollars of the portion of the subscription being paid. The initial payment shall be in such amount as the member considers appropriate hereunder but shall be subject to such adjustment, to be effected within ninety (90) days of the date on which such payment was due, as the Bank shall determine to be necessary to constitute the full dollar equivalent of such payment.

    [...]

    • 1 Shares of stock initially subscribed by members shall be issued at par. Other shares shall be issued at par unless the Board of Governors by a Special Majority vote as provided in Article 28 decides in special circumstances to issue them on other terms.

    [...]

    As used in this Agreement, the term “ordinary resources” of the Bank shall include the following:

    • [...]

    • (ii) funds raised by the Bank by virtue of powers conferred by paragraph 1 of Article 16, to which the commitment to calls provided for in paragraph 3 of Article 6 is applicable;

    • (iii) funds received in repayment of loans or guarantees made with the resources indicated in sub-paragraphs (i) and (ii) of this Article or as returns on equity investments and other types of financing approved under sub-paragraph 2 (vi) of Article 11 made with such resources;

    • [...]

    • (v) any other funds or income received by the Bank which do not form part of its Special Funds resources referred to in Article 17 of this Agreement.

    [...]

    The resources and facilities of the Bank shall be used exclusively to implement the purpose and functions set forth, respectively, in Articles 1 and 2, and in accordance with sound banking principles.

    [...]

    • 1 The operations of the Bank shall consist of:

      • [...]

      • (ii) special operations financed from the Special Funds resources referred to in Article 17.

      [...]

    [...]

    • 1 (a) The Bank may provide or facilitate financing to any member, or any agency, instrumentality or political subdivision thereof, or any entity or enterprise operating in the territory of a member, as well as to international or regional agencies or entities concerned with economic development of the region.

      • (b) The Bank may, in special circumstances, provide assistance to a recipient not listed in sub-paragraph (a) above only if the Board of Governors, by a Super Majority vote as provided in Article 28: (i) shall have determined that such assistance is designed to serve the purpose and come within the functions of the Bank and is in the interest of the Bank’s membership; and (ii) shall have specified the types of assistance under paragraph 2 of this Article that may be provided to such recipient.

    • 2 The Bank may carry out its operations in any of the following ways:

      • [...]

      • (ii) by investment of funds in the equity capital of an institution or enterprise;

      • (iii) by guaranteeing, whether as primary or secondary obligor, in whole or in part, loans for economic development;

    [...]

    • 1 The total amount outstanding of loans, equity investments, guarantees and other types of financing provided by the Bank in its ordinary operations under sub-paragraphs 2 (i), (ii), (iii) and (vi) of Article 11 shall not at any time be increased, if by such increase the total amount of its unimpaired subscribed capital, reserves and retained earnings included in its ordinary resources would be exceeded. Notwithstanding the provisions of the preceding sentence, the Board of Governors may, by a Super Majority vote as provided in Article 28, determine at any time that, based on the Bank’s financial position and financial standing, the limitation under this paragraph may be increased, up to 250% of the Bank’s unimpaired subscribed capital, reserves and retained earnings included in its ordinary resources.

    [...]

    The operations of the Bank shall be conducted in accordance with the principles set out below:

    • 1 The Bank shall be guided by sound banking principles in its operations.

    [...]

    • 1 In the case of loans made or participated in or loans guaranteed by the Bank, the contract shall establish, in conformity with the operating principles set forth in Article 13 and subject to the other provisions of this Agreement, the terms and conditions for the loan or the guarantee concerned. In setting such terms and conditions, the Bank shall take fully into account the need to safeguard its income and financial position.

    [...]

    • 1 The Bank may provide technical advice and assistance and other similar forms of assistance which serve its purpose and come within its functions.

    [...]

    In addition to the powers specified elsewhere in this Agreement, the Bank shall have the powers set out below.

    • 1 The Bank may raise funds, through borrowing or other means, in member countries or elsewhere, in accordance with the relevant legal provisions.

    • [...]

    • 7 The Bank may establish and administer funds held in trust for other parties, provided such trust funds are designed to serve the purpose and come within the functions of the Bank, under a trust fund framework which shall have been approved by the Board of Governors.

    [...]

    • 1 The Bank may accept Special Funds which are designed to serve the purpose and come within the functions of the Bank; such Special Funds shall be resources of the Bank. The full cost of administering any Special Fund shall be charged to that Special Fund.

    • [...]

    • 4 The term “Special Funds resources” shall refer to the resources of any Special Fund and shall include:

      • [...]

      • (ii) funds received in respect of loans or guarantees, and the proceeds of any equity investments, financed from the resources of any Special Fund which, under the rules and regulations of the Bank governing that Special Fund, are received by such Special Fund;

    [...]

    • 1 The Board of Governors shall determine at least annually what part of the net income of the Bank shall be allocated, after making provision for reserves, to retained earnings or other purposes and what part, if any, shall be distributed to the members. Any such decision on the allocation of the Bank’s net income to other purposes shall be taken by a Super Majority vote as provided in Article 28.

    [...]

    • 1 Members shall not impose any restrictions on currencies, including the receipt, holding, use or transfer by the Bank or by any recipient from the Bank, for payments in any country.

    [...]

    • 1 In the Bank’s ordinary operations, in cases of arrears or default on loans made, participated in, or guaranteed by the Bank, and in cases of losses on equity investment or other types of financing under sub-paragraph 2 (vi) of Article 11, the Bank shall take such action as it deems appropriate. The Bank shall maintain appropriate provisions against possible losses.

    • 2 Losses arising in the Bank’s ordinary operations shall be charged:

      • (i) first, to the provisions referred to in paragraph 1 above;

      • (ii) second, to net income;

    [...]

    • 1 Each member shall be represented on the Board of Governors and shall appoint one Governor and one Alternate Governor. Each Governor and Alternate Governor shall serve at the pleasure of the appointing member. No Alternate Governor may vote except in the absence of his principal.

    [...]

    • 1 All the powers of the Bank shall be vested in the Board of Governors.

    • 2 The Board of Governors may delegate to the Board of Directors any or all its powers, except the power to:

      • [...]

      • (ii) increase or decrease the authorized capital stock of the Bank;

    [...]

    • 1 The Board of Governors shall hold an annual meeting and such other meetings as may be provided for by the Board of Governors or called by the Board of Directors. Meetings of the Board of Governors shall be called by the Board of Directors whenever requested by five (5) members of the Bank.

    [...]

    • 1 The Board of Directors shall be composed of twelve (12) members who shall not be members of the Board of Governors, and of whom:

      • [...]

      • (ii) three (3) shall be elected by the Governors representing non-regional members.

      [...]

    [...]

    The Board of Directors shall be responsible for the direction of the general operations of the Bank and, for this purpose, shall, in addition to the powers assigned to it expressly by this Agreement, exercise all the powers delegated to it by the Board of Governors, and in particular:

    • [...]

    • (ii) establish the policies of the Bank, and, by a majority representing not less than three-fourths of the total voting power of the members, take decisions on major operational and financial policies and on delegation of authority to the President under Bank policies;

    [...]

    • 1 The Board of Directors shall meet as often as the business of the Bank may require, periodically throughout the year. The Board of Directors shall function on a non-resident basis except as otherwise decided by the Board of Governors by a Super Majority vote as provided in Article 28. Meetings may be called by the Chairman or whenever requested by three (3) Directors.

    [...]

    • 1 The total voting power of each member shall consist of the sum of its basic votes, share votes and, in the case of a Founding Member, its Founding Member votes.

      • [...]

      • (ii) The number of the share votes of each member shall be equal to the number of shares of the capital stock of the Bank held by that member.

      In the event a member fails to pay any part of the amount due in respect of its obligations in relation to paid-in shares under Article 6, the number of share votes to be exercised by the member shall, as long as such failure continues, be reduced proportionately, by the percentage which the amount due and unpaid represents of the total par value of paid-in shares subscribed to by that member.

    • 2 In voting in the Board of Governors, each Governor shall be entitled to cast the votes of the member he represents.

      • [...]

      • (ii) A Super Majority vote of the Board of Governors shall require an affirmative vote of two-thirds of the total number of Governors, representing not less than three-fourths of the total voting power of the members.

    • 3 In voting in the Board of Directors, each Director shall be entitled to cast the number of votes to which the Governors who elected him are entitled and those to which any Governors who have assigned their votes to him, pursuant to Schedule B, are entitled.

      • [...]

      • (ii) Except as otherwise expressly provided in this Agreement, all matters before the Board of Directors shall be decided by a majority of the votes cast.

    [...]

    • 1 The Board of Governors, through an open, transparent and merit-based process, shall elect a president of the Bank by a Super Majority vote as provided in Article 28. He shall be a national of a regional member country. The President, while holding office, shall not be a Governor or a Director or an Alternate for either.

    • 2 The term of office of the President shall be five (5) years. He may be re-elected once. The President may be suspended or removed from office when the Board of Governors so decides by a Super Majority vote as provided in Article 28.

      • (a) If the office of the President for any reason becomes vacant during his term, the Board of Governors shall appoint an Acting President for a temporary period or elect a new President, in accordance with paragraph 1 of this Article.

    [...]

    • 1 One or more Vice-Presidents shall be appointed by the Board of Directors on the recommendation of the President, on the basis of an open, transparent and merit-based process. A Vice-President shall hold office for such term, exercise such authority and perform such functions in the administration of the Bank, as may be determined by the Board of Directors. In the absence or incapacity of the President, a Vice-President shall exercise the authority and perform the functions of the President.

    • 2 The President shall be responsible for the organization, appointment and dismissal of the officers and staff in accordance with regulations adopted by the Board of Directors, with the exception of Vice-Presidents to the extent provided in paragraph 1 above.

    [...]

    • 1 The Bank shall not accept Special Funds, loans or assistance that may in any way prejudice, limit, deflect or otherwise alter its purpose or functions.

    [...]

    • 1 The principal office of the Bank shall be located in Beijing, People’s Republic of China.

    [...]

    • 1 Each member shall designate an appropriate official entity with which the Bank may communicate in connection with any matter arising under this Agreement.

    [...]

    • 1 The working language of the Bank shall be English, and the Bank shall rely on the English text of this Agreement for all decisions and for interpretations under Article 54.

    [...]

    • 1 The Bank shall work in close cooperation with all its members, and, in such manner as it may deem appropriate within the terms of this Agreement, with other international financial institutions, and international organizations concerned with the economic development of the region or the Bank’s operational areas.

    [...]

    • 1 References in this Agreement to Article or Schedule refer to Articles and Schedules of this Agreement, unless otherwise specified.

    [...]

    • 1 Any member may withdraw from the Bank at any time by delivering a notice in writing to the Bank at its principal office.

    [...]

    • 1 If a member fails to fulfill any of its obligations to the Bank, the Board of Governors may suspend such member by a Super Majority vote as provided in Article 28.

    • 2 The member so suspended shall automatically cease to be a member one (1) year from the date of its suspension, unless the Board of Governors decides by a Super Majority vote as provided in Article 28 to restore the member to good standing.

    [...]

    • 1 After the date on which a country ceases to be a member, it shall remain liable for its direct obligations to the Bank and for its contingent liabilities to the Bank so long as any part of the loans, guarantees, equity investments or other forms of financing under paragraph 2 (vi) of Article 11 (hereinafter, other financing) contracted before it ceased to be a member is outstanding, but it shall not incur liabilities with respect to loans, guarantees, equity investments or other financing entered into thereafter by the Bank nor share either in the income or the expenses of the Bank.

    • 2 At the time a country ceases to be a member, the Bank shall arrange for the repurchase of such country’s shares by the Bank as a part of the settlement of accounts with such country in accordance with the provisions of paragraphs 3 and 4 of this Article. For this purpose, the repurchase price of the shares shall be the value shown by the books of the Bank on the date the country ceases to be a member.

    • 3 The payment for shares repurchased by the Bank under this Article shall be governed by the following conditions:

      • (i) Any amount due to the country concerned for its shares shall be withheld so long as that country, its central bank or any of its agencies, instrumentalities or political subdivisions remains liable, as borrower, guarantor or other contracting party with respect to equity investment or other financing, to the Bank and such amount may, at the option of the Bank, be applied on any such liability as it matures. No amount shall be withheld on account of the contingent liability of the country for future calls on its subscription for shares in accordance with paragraph 3 of Article 6. In any event, no amount due to a member for its shares shall be paid until six (6) months after the date on which the country ceases to be a member.

      • (ii) Payments for shares may be made from time to time, upon surrender of the corresponding stock certificates by the country concerned, to the extent by which the amount due as the repurchase price in accordance with paragraph 2 of this Article exceeds the aggregate amount of liabilities, on loans, guarantees, equity investments and other financing referred to in sub-paragraph (i) of this paragraph, until the former member has received the full repurchase price.

    [...]

    • 1 The Bank may terminate its operations by a resolution of the Board of Governors approved by a Super Majority vote as provided in Article 28.

    [...]

    • 1 In the event of termination of the operation of the Bank, the liability of all members for uncalled subscriptions to the capital stock of the Bank and in respect of the depreciation of their currencies shall continue until all claims of creditors, including all contingent claims, shall have been discharged.

    [...]

    • 1 No distribution of assets shall be made to members on account of their subscriptions to the capital stock of the Bank until:

      • [...]

      • (ii) the Board of Governors has decided, by a Super Majority vote as provided in Article 28, to make such distribution.

    [...]

    • 1 To enable the Bank to fulfill its purpose and carry out the functions entrusted to it, the status, immunities, privileges and exemptions set forth in this Chapter shall be accorded to the Bank in the territory of each member.

    [...]

    The Bank shall possess full juridical personality and, in particular, the full legal capacity:

    • [...]

    • (ii) to acquire, and dispose of, immovable and movable property;

    [...]

    • 1 The Bank shall enjoy immunity from every form of legal process, except in cases arising out of or in connection with the exercise of its powers to raise funds, through borrowings or other means, to guarantee obligations, or to buy and sell or underwrite the sale of securities, in which cases actions may be brought against the Bank only in a court of competent jurisdiction in the territory of a country in which the Bank has an office, or has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities.

    • 2 Notwithstanding the provisions of paragraph 1 of this Article, no action shall be brought against the Bank by any member, or by any agency or instrumentality of a member, or by any entity or person directly or indirectly acting for or deriving claims from a member or from any agency or instrumentality of a member. Members shall have recourse to such special procedures for the settlement of controversies between the Bank and its members as may be prescribed in this Agreement, in the by-laws and regulations of the Bank, or in the contracts entered into with the Bank.

    [...]

    • 1 Property and assets of the Bank, wheresoever located and by whomsoever held, shall be immune from search, requisition, confiscation, expropriation or any other form of taking or foreclosure by executive or legislative action.

    [...]

    All Governors, Directors, Alternates, the President, Vice-Presidents and other officers and employees of the Bank, including experts and consultants performing missions or services for the Bank:

    • [...]

    • (ii) where they are not local citizens or nationals, shall be accorded the same immunities from immigration restrictions, alien registration requirements and national service obligations, and the same facilities as regards exchange regulations, as are accorded by members to the representatives, officials and employees of comparable rank of other members; and

    [...]

    • 1 The Bank, its assets, property, income and its operations and transactions pursuant to this Agreement, shall be exempt from all taxation and from all customs duties. The Bank shall also be exempt from any obligation for the payment, withholding or collection of any tax or duty.

    • [...]

    • 3 No tax of any kind shall be levied on any obligation or security issued by the Bank, including any dividend or interest thereon, by whomsoever held:

      • [...]

      • (ii) if the sole jurisdictional basis for such taxation is the place or currency in which it is issued, made payable or paid, or the location of any office or place of business maintained by the Bank.

    • 4 No tax of any kind shall be levied on any obligation or security guaranteed by the Bank, including any dividend or interest thereon, by whomsoever held:

      • [...]

      • (ii) if the sole jurisdictional basis for such taxation is the location of any office or place of business maintained by the Bank.

    [...]

    • 1 The Bank at its discretion may waive any of the privileges, immunities and exemptions conferred under this Chapter in any case or instance, in such manner and upon such conditions as it may determine to be appropriate in the best interests of the Bank.

    [...]

    • 1 This Agreement may be amended only by a resolution of the Board of Governors approved by a Super Majority vote as provided in Article 28.

    • 2 Notwithstanding the provisions of paragraph 1 of this Article, the unanimous agreement of the Board of Governors shall be required for the approval of any amendment modifying:

      • [...]

      • (ii) the limitations on liability provided in paragraphs 3 and 4 of Article 7; and

    [...]

    • 1 Any question of interpretation or application of the provisions of this Agreement arising between any member and the Bank, or between two or more members of the Bank, shall be submitted to the Board of Directors for decision. If there is no Director of its nationality on that Board, a member particularly affected by the question under consideration shall be entitled to direct representation in the Board of Directors during such consideration; the representative of such member shall, however, have no vote. Such right of representation shall be regulated by the Board of Governors.

    • 2 In any case where the Board of Directors has given a decision under paragraph 1 of this Article, any member may require that the question be referred to the Board of Governors, whose decision shall be final. Pending the decision of the Board of Governors, the Bank may, so far as it deems necessary, act on the basis of the decision of the Board of Directors.

    [...]

    If a disagreement should arise between the Bank and a country which has ceased to be a member, or between the Bank and any member after adoption of a resolution to terminate the operations of the Bank, such disagreement shall be submitted to arbitration by a tribunal of three arbitrators. One of the arbitrators shall be appointed by the Bank, another by the country concerned, and the third, unless the parties otherwise agree, by the President of the International Court of Justice or such other authority as may have been prescribed by regulations adopted by the Board of Governors. A majority vote of the arbitrators shall be sufficient to reach a decision which shall be final and binding upon the parties. The third arbitrator shall be empowered to settle all questions of procedure in any case where the parties are in disagreement with respect thereto.

    [...]

    • 1 This Agreement, deposited with the Government of the People’s Republic of China (hereinafter called the “Depository”), shall remain open until December 31, 2015 for signature by the Governments of countries whose names are set forth in Schedule A.

    [...]

    • 1 This Agreement shall be subject to ratification, acceptance or approval by the Signatories. Instruments of ratification, acceptance or approval shall be deposited with the Depository not later than December 31, 2016, or if necessary, until such later date as may be decided by the Board of Governors by a Special Majority vote as provided in Article 28. The Depository shall duly notify the other Signatories of each deposit and the date thereof.

    [...]

    • 1 As soon as this Agreement enters into force, each member shall appoint a Governor, and the Depository shall call the inaugural meeting of the Board of Governors.

    • 2 At its inaugural meeting, the Board of Governors:

      • [...]

      • (ii) shall elect the Directors of the Bank in accordance with paragraph 1 of Article 25, provided that the Board of Governors may decide to elect fewer Directors for an initial period shorter than two years in consideration of the number of members and Signatories which have not yet become members;

    [...]

    [...]

    PART A.

    [...]

    [...]

    [...]

    Iran 15,808 1,580.8
    Jordan 1,192 119.2
    Malaysia 1,095 109.5
    Pakistan 10,341 1,034.1
    Thailand 14,275 1,427.5
    United Arab Emirates 11,857 1,185.7
    Unallocated 16,150 1,615.0

    PART B.

    [...]

    [...]

    [...]

    Malta 136 13.6
    Netherlands 10,313 1,031.3
    Spain 17,615 1,761.5
    GRAND TOTAL 1,000,000 100,000.0

    [...]

    [...]

    • 1 Constituencies. Each Director shall represent one or more members in a constituency. The total aggregate voting power of each constituency shall consist of the votes which the Director is entitled to cast under paragraph 3 of Article 28.

    • [...]

    • 6 Voting. Each Governor may vote for one candidate, casting all of the votes to which the member appointing him is entitled under paragraph 1 of Article 28. The election of Regional Directors shall be by ballot of Regional Governors. The election of Non-Regional Directors shall be by ballot of Non-Regional Governors.

    • [...]

    • 8 Subsequent Ballots. If the required number of Directors is not elected on the first ballot, and there were more candidates than the number of Directors to be elected on the ballot, there shall be subsequent ballots, as necessary. For subsequent ballots:

      • [...]

      • (b) Votes shall be cast only by: (i) Governors who voted in the preceding ballot for a candidate who was not elected; and (ii) Governors whose votes for a candidate who was elected are deemed to have raised the votes for that candidate above the applicable Adjustment Percentage under (c) below.


  4. Income Tax Act - R.S.C., 1985, c. 1 (5th Supp.) (Section 248)
    Marginal note:Definitions
    •  (1) In this Act,

      additional voluntary contribution

      additional voluntary contribution  to a registered pension plan means a contribution that is made by a member to the plan, that is used to provide benefits under a money purchase provision (within the meaning assigned by subsection 147.1(1)) of the plan and that is not required as a general condition of membership in the plan; (cotisation facultative)

      amortized cost

      amortized cost  of a loan or lending asset at any time to a taxpayer means the amount, if any, by which the total of

      • [...]

      • (c) in the case of a loan or lending asset acquired by the taxpayer, the part of the amount, if any, by which

        [...]

        • (ii) the cost to the taxpayer of the loan or lending asset

        [...]

      • [...]

      • (e) the total of all amounts each of which is an amount in respect of the loan or lending asset that was included under paragraph 12(1)(i) in computing the taxpayer’s income for any taxation year ending at or before that time

      [...]

      • (f) the part of the amount, if any, by which

        • (i) the amount referred to in subparagraph (c)(ii)

        [...]

        • (ii) the amount referred to in subparagraph (c)(i)

        [...]

      • [...]

      • (i) the total of all amounts each of which is an amount in respect of the loan or lending asset deducted under paragraph 20(1)(p) in computing the taxpayer’s income for any taxation year ending at or before that time; (coût amorti)

      amount

      amount  means money, rights or things expressed in terms of the amount of money or the value in terms of money of the right or thing, except that,

      • (a) notwithstanding paragraph (b), in any case where subsection 112(2.1), 112(2.2) or 112(2.4), or section 187.2 or 187.3 or subsection 258(3) or 258(5) applies to a stock dividend, the amount of the stock dividend is the greater of

        • [...]

        • (ii) the fair market value of the share or shares paid as a stock dividend at the time of payment,

      • (b) in any case where section 191.1 applies to a stock dividend, the amount of the stock dividend for the purposes of Part VI.1 is the greater of

        • [...]

        • (ii) the fair market value of the share or shares paid as a stock dividend at the time of payment,

        [...]

      automobile

      automobile  means

      [...]

      • [...]

      • (e) a motor vehicle

        • [...]

        • (ii) of a type commonly called a van or pick-up truck, or a similar vehicle, the use of which, in the taxation year in which it is acquired or leased, is all or substantially all for the transportation of goods, equipment or passengers in the course of gaining or producing income, or

        • (iii) of a type commonly called a pick-up truck that is used in the taxation year in which it is acquired or leased primarily for the transportation of goods, equipment or passengers in the course of earning or producing income at one or more locations in Canada that are

          • (A) described, in respect of any of the occupants of the vehicle, in subparagraph 6(6)(a)(i) or (ii), and

      balance-due day

      balance-due day  of a taxpayer for a taxation year means,

      • (a) if the taxpayer is a trust,

        • (i) in the case where the time at which the taxation year ends is determined under paragraph 249(4)(a), the day that is

          • (A) in the case where that time occurs in a calendar year after the end of the trust’s particular taxation year that ends on December 15 of that calendar year because of an election made under paragraph 132.11(1)(a), the balance-due day of the trust for the particular taxation year,

        • (ii) in any other case, the day that is 90 days after the end of the taxation year,

      • [...]

      • (d) where the taxpayer is a corporation,

        • (i) the day that is three months after the day on which the taxation year (in this subparagraph referred to as the “current year”) ends, if

          • (A) an amount was deducted under section 125 in computing the corporation’s tax payable under this Part for the current year or for its preceding taxation year,

          • [...]

          • (C) either

            • [...]

            • (II) in the case of a corporation that is associated with one or more other corporations in the current year, the total of the taxable incomes of the corporation and of those other corporations for their last taxation years that ended in the last calendar year that ended before the end of the current year (determined before taking into consideration the specified future tax consequences for those last taxation years) does not exceed the total of the business limits of the corporation and of those other corporations for those last taxation years, and

        • (ii) the day that is two months after the day on which the taxation year ends, in any other case; (date d’exigibilité du solde)

      business

      business  includes a profession, calling, trade, manufacture or undertaking of any kind whatever and, except for the purposes of paragraph 18(2)(c), section 54.2, subsection 95(1) and paragraph 110.6(14)(f), an adventure or concern in the nature of trade but does not include an office or employment; (commerce)

      Canadian corporation

      Canadian corporation  has the meaning assigned by subsection 89(1); (société canadienne)

      Canadian field processing

      Canadian field processing  means, except as otherwise prescribed,

      [...]

      • [...]

      • (h) where all or part of a natural gas processing plant is devoted primarily to the recovery of ethane, the plant, or the part of the plant, as the case may be, is considered not to be a natural gas processing plant; (traitement préliminaire au Canada)

      Canadian real, immovable or resource property

      Canadian real, immovable or resource property  means

      • (a) a property that would, if this Act were read without reference to the definition real or immovable property in subsection 122.1(1), be a real or immovable property situated in Canada,

      • [...]

      • (d) a share of the capital stock of a corporation, an income or a capital interest in a trust or an interest in a partnership — other than a taxable Canadian corporation, a SIFT trust (determined without reference to subsection 122.1(2)), a SIFT partnership (determined without reference to subsection 197(8)) or a real estate investment trust (as defined in subsection 122.1(1)) — if more than 50% of the fair market value of the share or interest is derived directly or indirectly from one or any combination of properties described in paragraphs (a) to (c), or

      capital interest

      capital interest  of a taxpayer in a trust has the meaning assigned by subsection 108(1); (participation au capital)

      cash method

      cash method  has the meaning assigned by subsection 28(1); (méthode de comptabilité de caisse)

      cemetery care trust

      cemetery care trust  has the meaning assigned by subsection 148.1(1); (fiducie pour l’entretien d’un cimetière)

      common-law partner

      common-law partner , with respect to a taxpayer at any time, means a person who cohabits at that time in a conjugal relationship with the taxpayer and

      • [...]

      • (b) would be the parent of a child of whom the taxpayer is a parent, if this Act were read without reference to paragraphs 252(1)(c) and (e) and subparagraph 252(2)(a)(iii),

      [...]

      controlled foreign affiliate

      controlled foreign affiliate  has, except as expressly otherwise provided in this Act, the meaning assigned by subsection 95(1); (société étrangère affiliée contrôlée)

      corporation incorporated in Canada

      corporation incorporated in Canada  includes a corporation incorporated in any part of Canada before or after it became part of Canada; (société constituée au Canada)

      cost amount

      cost amount  to a taxpayer of any property at any time means, except as expressly otherwise provided in this Act,

      • (a) where the property was depreciable property of the taxpayer of a prescribed class, the amount that would be that proportion of the undepreciated capital cost to the taxpayer of property of that class at that time that the capital cost to the taxpayer of the property is of the capital cost to the taxpayer of all property of that class that had not been disposed of by the taxpayer before that time if subsection 13(7) were read without reference to paragraph 13(7)(e) and if

        • [...]

        • (ii) subparagraph 13(7)(d)(i) were read as follows:

          [...]

      • [...]

      • (e) where the property was a right of the taxpayer to receive an amount, other than property that is

        • (i) a debt the amount of which was deducted under paragraph 20(1)(p) in computing the taxpayer’s income for a taxation year that ended before that time,

        • (ii) a net income stabilization account,

        • [...]

        • (iv) a right to receive production (as defined in subsection 18.1(1)) to which a matchable expenditure (as defined in subsection 18.1(1)) relates,

        [...]

      and, for the purposes of this definition, financial institution, mark-to-market property and specified debt obligation have the meanings assigned by subsection 142.2(1), and tax basis has the meaning assigned by subsection 142.4(1); (coût indiqué)

      credit union

      credit union  has the meaning assigned by subsection 137(6), except for the purposes of Part XV.1; (caisse de crédit)

      death benefit

      death benefit  means the total of all amounts received by a taxpayer in a taxation year on or after the death of an employee in recognition of the employee’s service in an office or employment minus

      • (a) where the taxpayer is the only person who has received such an amount and who is a surviving spouse or common-law partner of the employee (which person is, in this definition, referred to as the “surviving spouse or common-law partner”), the lesser of

        • [...]

        • (ii) the amount, if any, by which $10,000 exceeds the total of all amounts received by the taxpayer in preceding taxation years on or after the death of the employee in recognition of the employee’s service in an office or employment, or

      • (b) where the taxpayer is not the surviving spouse or common-law partner of the employee, the lesser of

        • [...]

        • (ii) that proportion of

          [...]

      deferred profit sharing plan

      deferred profit sharing plan  has the meaning assigned by subsection 147(1); (régime de participation différée aux bénéfices)

      derivative forward agreement

      derivative forward agreement , of a taxpayer, means an agreement entered into by the taxpayer to purchase or sell a capital property if

      • (a) the term of the agreement exceeds 180 days or the agreement is part of a series of agreements with a term that exceeds 180 days,

      • (b) in the case of a purchase agreement, the difference between the fair market value of the property delivered on settlement, including partial settlement, of the agreement and the amount paid for the property is attributable, in whole or in part, to an underlying interest (including a value, price, rate, variable, index, event, probability or thing) other than

        • [...]

        • (ii) if the purchase price is denominated in the currency of a country other than Canada, changes in the value of the Canadian currency relative to that other currency, or

      • (c) in the case of a sale agreement,

        • (i) the difference between the sale price of the property and the fair market value of the property at the time the agreement is entered into by the taxpayer is attributable, in whole or in part, to an underlying interest (including a value, price, rate, variable, index, event, probability or thing) other than

          [...]

        • (ii) the agreement is part of an arrangement that has the effect — or would have the effect if the agreements that are part of the arrangement and that were entered into by persons or partnerships not dealing at arm’s length with the taxpayer were entered into by the taxpayer instead of non-arm’s length persons or partnerships — of eliminating a majority of the taxpayer’s risk of loss and opportunity for gain or profit in respect of the property for a period of more than 180 days; (contrat dérivé à terme)

      designated stock exchange

      designated stock exchange  means a stock exchange, or that part of a stock exchange, for which a designation by the Minister of Finance under section 262 is in effect; (bourse de valeurs désignée)

      disposition

      disposition  of any property, except as expressly otherwise provided, includes

      • [...]

      • (b) any transaction or event by which,

        • (i) where the property is a share, bond, debenture, note, certificate, mortgage, hypothecary claim, agreement of sale or similar property, or interest, or for civil law a right, in it, the property is in whole or in part redeemed, acquired or cancelled,

        • (ii) where the property is a debt or any other right to receive an amount, the debt or other right is settled or cancelled,

        • [...]

        • (v) a trust, that can reasonably be considered to act as agent for all the beneficiaries under the trust with respect to all dealings with all of the trust’s property (unless the trust is described in any of paragraphs (a) to (e.1) of the definition trust in subsection 108(1)), ceases to act as agent for a beneficiary under the trust with respect to any dealing with any of the trust’s property,

      • [...]

      • (d) where the property is, or is part of, a taxpayer’s capital interest in a trust, except as provided by paragraph (h) or (i), a payment made after 1999 to the taxpayer from the trust that can reasonably be considered to have been made because of the taxpayer’s capital interest in the trust,

      [...]

      • (e) any transfer of the property as a consequence of which there is no change in the beneficial ownership of the property, except where the transfer is

        • [...]

        • (ii) from a trust to a beneficiary under the trust, or

      • (f) any transfer of the property as a consequence of which there is no change in the beneficial ownership of the property, where

        • [...]

        • (ii) [Repealed, 2013, c. 34, s. 358]

        • [...]

        • (vi) if the transferor is an amateur athlete trust, a cemetery care trust, an employee trust, a trust deemed by subsection 143(1) to exist in respect of a congregation that is a constituent part of a religious organization, a related segregated fund trust (in this paragraph having the meaning assigned by section 138.1), a trust described in paragraph 149(1)(o.4) or a trust governed by an eligible funeral arrangement, an employees profit sharing plan, a registered disability savings plan, a registered education savings plan, a registered supplementary unemployment benefit plan or a TFSA, the transferee is the same type of trust, and

        • (vii) the transfer results, or is part of a series of transactions or events that results, in the transferor ceasing to exist and, immediately before the time of the transfer or the beginning of that series, as the case may be, the transferee never held any property or held only property having a nominal value,

      • [...]

      • (h) where the property is part of a capital interest of a taxpayer in a trust (other than a personal trust or a trust prescribed for the purpose of subsection 107(2)) that is described by reference to units issued by the trust, a payment after 1999 from the trust in respect of the capital interest, where the number of units in the trust that are owned by the taxpayer is not reduced because of the payment,

      • (i) where the property is a taxpayer’s capital interest in a trust, a payment to the taxpayer after 1999 in respect of the capital interest to the extent that the payment

        • [...]

        • (ii) is in respect of an amount designated in respect of the taxpayer by the trust under subsection 104(20),

      • [...]

      • (k) any transfer of the property to a trust as a consequence of which there is no change in the beneficial ownership of the property, where the main purpose of the transfer is

        • [...]

        • (ii) to provide assurance that an absolute or contingent obligation of the transferor will be satisfied, or

      • [...]

      • (n) a redemption, an acquisition or a cancellation of a share or of a right to acquire a share (which share or which right, as the case may be, is referred to in this paragraph as the “security”) of the capital stock of a corporation (referred to in this paragraph as the “issuing corporation”) held by another corporation (referred to in this paragraph as the “disposing corporation”) if

        • (i) the redemption, acquisition or cancellation occurs as part of a merger or combination of two or more corporations (including the issuing corporation and the disposing corporation) to form one corporate entity (referred to in this paragraph as the “new corporation”),

        • (ii) the merger or combination

          • (A) is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) does not apply,

          • (B) is an amalgamation (within the meaning assigned by subsection 87(1)) to which subsection 87(11) applies, if the issuing corporation and the disposing corporation are described by subsection 87(11) as the parent and the subsidiary, respectively,

          • [...]

          • (D) would be a foreign merger (within the meaning assigned by subsection 87(8.1)) if subparagraph 87(8.1)(c)(ii) were read without reference to the words “that was resident in a country other than Canada”, and

        • (iii) either

          • [...]

          • (B) in the case where the merger or combination is described by clause (ii)(C) or (D), the disposing corporation receives no consideration for the security other than property that was, immediately before the merger or combination, owned by the issuing corporation and that, on the merger or combination, becomes property of the new corporation; (disposition)

      dividend rental arrangement

      dividend rental arrangement , of a person or a partnership (each of which is referred to in this definition as the person), means

      • (a) any arrangement entered into by the person where it can reasonably be considered that

        • [...]

        • (ii) under the arrangement someone other than that person bears the risk of loss or enjoys the opportunity for gain or profit with respect to the share in any material respect,

      • (b) for greater certainty, any arrangement under which

        • [...]

        • (ii) the corporation or a partnership of which the corporation is a member is obligated to pay to another person or partnership an amount

          • (A) that is compensation for

            • [...]

            • (II) a dividend on a share that is identical to the particular share, or

      • [...]

      • (d) one or more agreements or arrangements (other than agreements or arrangements described in paragraph (c)) entered into by the person, the connected person referred to in paragraph (a) of the definition synthetic equity arrangement or, for greater certainty, by any combination of the person and connected persons, if

        • [...]

        • (ii) as part of a series of transactions that includes these agreements or arrangements, a tax-indifferent investor, or a group of tax-indifferent investors each member of which is affiliated with every other member, obtains all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share or an identical share (as defined in subsection 112(10)), and

        • (iii) it is reasonable to conclude that one of the purposes of the series of transactions is to obtain the result described in subparagraph (ii); (mécanisme de transfert de dividendes)

      DRA share

      DRA share , of a person or partnership, means a share

      • [...]

      • (e) in any other case, in respect of which the person or partnership is (or would be in the absence of subsection 112(2.3)) entitled to a deduction under subsection 112(1) in respect of dividends received on the share; (action de mécanisme de transfert de dividendes ou AMTD)

      eligible dividend

      eligible dividend  has the meaning assigned by subsection 89(1); (dividende déterminé)

      eligible funeral arrangement

      eligible funeral arrangement  has the meaning assigned by subsection 148.1(1); (arrangement de services funéraires)

      eligible relocation

      eligible relocation  means a relocation of a taxpayer in respect of which the following apply:

      • (a) the relocation occurs to enable the taxpayer

        • [...]

        • (ii) to be a student in full-time attendance enrolled in a program at a post-secondary level at a location of a university, college or other educational institution (in section 62 and this definition referred to as “the new work location”),

      employee benefit plan

      employee benefit plan  means an arrangement under which contributions are made by an employer or by any person with whom the employer does not deal at arm’s length to another person (in this Act referred to as the “custodian” of an employee benefit plan) and under which one or more payments are to be made to or for the benefit of employees or former employees of the employer or persons who do not deal at arm’s length with any such employee or former employee (other than a payment that, if section 6 were read without reference to subparagraph 6(1)(a)(ii) and paragraph 6(1)(g), would not be required to be included in computing the income of the recipient or of an employee or former employee), but does not include any portion of the arrangement that is

      • (a) a fund, plan or trust referred to in subparagraph 6(1)(a)(i) or paragraph 6(1)(d) or (f),

      • (b) a trust described in paragraph 149(1)(y),

      • [...]

      • (c.1) a salary deferral arrangement, in respect of a taxpayer, under which deferred amounts are required to be included as benefits under paragraph 6(1)(a) in computing the taxpayer’s income,

      employee trust

      employee trust  means an arrangement (other than an employees profit sharing plan, a deferred profit sharing plan or a plan referred to in subsection 147(15) as a “revoked plan”) established after 1979

      • (a) under which payments are made by one or more employers to a trustee in trust solely to provide to employees or former employees of

        • [...]

        • (ii) a person with whom the employer does not deal at arm’s length,

        [...]

      • (b) under which the trustee has, since the commencement of the arrangement, each year allocated to individuals who are beneficiaries thereunder, in such manner as is reasonable, the amount, if any, by which the total of all amounts each of which is

        • [...]

        • (ii) the amount that would, if this Act were read without reference to subsection 104(6), be the income of the trust for the year (other than a taxable capital gain from the disposition of property) from a property or other source other than a business, or

        [...]

      employees profit sharing plan

      employees profit sharing plan  has the meaning assigned by subsection 144(1); (régime de participation des employés aux bénéfices)

      estate

      estate  has the meaning assigned by subsection 104(1) and includes, for civil law, a succession; (succession)

      excessive eligible dividend designation

      excessive eligible dividend designation  has the meaning assigned by subsection 89(1); (désignation excessive de dividende déterminé)

      exempt income

      exempt income  means property received or acquired by a person in such circumstances that it is, because of any provision of Part I, not included in computing the person’s income, but does not include a dividend on a share or a support amount (as defined in subsection 56.1(4)); (revenu exonéré)

      filing-due date

      filing-due date  for a taxation year of a taxpayer means the day on or before which the taxpayer’s return of income under Part I for the year is required to be filed or would be required to be filed if tax under that Part were payable by the taxpayer for the year; (date d’échéance de production)

      foreign affiliate

      foreign affiliate  has the meaning assigned by subsection 95(1); (société étrangère affiliée)

      foreign resource expense

      foreign resource expense  has the meaning assigned by subsection 66.21(1); (frais relatifs à des ressources à l’étranger)

      foreign resource property

      foreign resource property  has the meaning assigned by subsection 66(15), and a foreign resource property in respect of a country means a foreign resource property that is

      • [...]

      • (b) a right, licence or privilege to

        • [...]

        • (ii) prospect, explore, drill or mine for minerals in a mineral resource in that country,

      general rate income pool

      general rate income pool  has the meaning assigned by subsection 89(1); (compte de revenu à taux général)

      goods and services tax

      goods and services tax  means the tax payable under Part IX of the Excise Tax Act; (taxe sur les produits et services)

      graduated rate estate

      graduated rate estate , of an individual at any time, means the estate that arose on and as a consequence of the individual’s death if

      • [...]

      • (c) the individual’s Social Insurance Number (or if the individual had not, before the death, been assigned a Social Insurance Number, such other information as is acceptable to the Minister) is provided in the estate’s return of income under Part I for the taxation year that includes that time and for each of its earlier taxation years that ended after 2015,

      • (d) the estate designates itself as the graduated rate estate of the individual in its return of income under Part I for its first taxation year that ends after 2015, and

      • (e) no other estate designates itself as the graduated rate estate of the individual in a return of income under Part I for a taxation year that ends after 2015; (succession assujettie à l’imposition à taux progressifs)

      grandfathered share

      grandfathered share  means

      • [...]

      • (b) a share of the capital stock of a corporation issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 and before 1988 as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice filed before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 with a public authority pursuant to and in accordance with the securities legislation of the jurisdiction in which the shares are distributed,

      • (c) a share (in this paragraph referred to as the “new share”) of the capital stock of a corporation that is issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 in exchange for

        • [...]

        • (ii) a debt obligation of a corporation that was

          • [...]

          • (B) issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 under an agreement in writing entered into before that time, or after that time and before 1988 as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice filed before that time with a public authority under and in accordance with the securities legislation of the jurisdiction in which the debt obligation is distributed,

        [...]

      • (d) a share of a class of the capital stock of a Canadian corporation listed on a designated stock exchange that is issued after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 on the exercise of a right that

        • (i) was issued before that time, that was issued after that time under an agreement in writing entered into before that time or that was issued after that time and before 1988 as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice filed before that time with a public authority under and in accordance with the securities legislation of the jurisdiction in which the rights were distributed, and

        • (ii) was listed on a designated stock exchange,

        [...]

      [...]

      home relocation loan

      home relocation loan  means a loan received by an individual or the individual’s spouse or common-law partner in circumstances where the individual has commenced employment at a location in Canada (in this definition referred to as the “new work location”) and by reason thereof has moved from the residence in Canada at which, before the move, the individual ordinarily resided (in this definition referred to as the “old residence”) to a residence in Canada at which, after the move, the individual ordinarily resided (in this definition referred to as the “new residence”) if

      • [...]

      • (c) the loan is received in the circumstances described in subsection 80.4(1), or would have been so received if subsection 80.4(1.1) had applied to the loan at the time it was received, and

      income bond

      income bond or income debenture  of a corporation (in this definition referred to as the “issuing corporation”) means a bond or debenture in respect of which interest or dividends are payable only to the extent that the issuing corporation has made a profit before taking into account the interest or dividend obligation and that was issued

      • [...]

      • (c) by an issuing corporation resident in Canada for a term that may not, in any circumstances, exceed 5 years,

        • (i) as part of a proposal to or an arrangement with its creditors that had been approved by a court under the Bankruptcy and Insolvency Act,

        • (ii) at a time when all or substantially all of its assets were under the control of a receiver, receiver-manager, sequestrator or trustee in bankruptcy, or

        • (iii) at a time when, by reason of financial difficulty, the issuing corporation or another corporation resident in Canada with which it does not deal at arm’s length was in default, or could reasonably be expected to default, on a debt obligation held by a person with whom the issuing corporation or the other corporation was dealing at arm’s length and the bond or debenture was issued either wholly or in substantial part and either directly or indirectly in exchange or substitution for that obligation or a part thereof,

        [...]

      [...]

      • [...]

      • (e) where

        • [...]

        • (ii) under the terms or conditions of a bond or debenture acquired in the ordinary course of the business carried on by a specified financial institution or a partnership or trust (other than a testamentary trust) or under the terms or conditions of any agreement relating to any such bond or debenture (other than an agreement made before October 24, 1979 to which the issuing corporation or any person related thereto was not a party), the owner thereof could at any particular time after November 16, 1978 require, either alone or together with one or more taxpayers, the repayment, acquisition, cancellation or conversion of the bond or debenture otherwise than by reason of a failure or default under the terms or conditions of the bond or debenture or any agreement that related to, and was entered into at the time of, the issuance of the bond or debenture,

        • [...]

        • (iv) at a particular time a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquires a bond or debenture that

          • [...]

          • (B) was issued to a person other than a corporation that was, at the time of issue,

            • [...]

            • (II) a corporation that was controlled by one or more corporations described in subclause (I) and, for the purpose of this subclause, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length,

        [...]

      income interest

      income interest  of a taxpayer in a trust has the meaning assigned by subsection 108(1); (participation au revenu)

      international shipping

      international shipping  means the operation of a ship owned or leased by a person or partnership (in this definition referred to as the “operator”) that is used, either directly or as part of a pooling arrangement, primarily in transporting passengers or goods in international traffic — determined as if, except where paragraph (c) of the definition international traffic in this subsection applies, any port or other place on the Great Lakes or St. Lawrence River is in Canada — including the chartering of the ship, provided that one or more persons related to the operator (if the operator and each such person is a corporation), or persons or partnerships affiliated with the operator (in any other case), has complete possession, control and command of the ship, and any activity incident to or pertaining to the operation of the ship, but does not include

      [...]

      inter vivos trust

      inter vivos trust  has the meaning assigned by subsection 108(1); (fiducie non testamentaire)

      lawyer

      lawyer  has the meaning assigned by subsection 232(1); (avocat)

      LIA policy

      LIA policy  means a life insurance policy (other than an annuity) where

      • [...]

      • (b) the lender is assigned an interest in

        • [...]

        • (ii) an annuity contract the terms of which provide that payments are to continue for a period that ends no earlier than the death of the particular individual; (police RAL)

      licensed annuities provider

      licensed annuities provider  has the meaning assigned by subsection 147(1); (fournisseur de rentes autorisé)

      life insurance business

      life insurance business  includes

      • [...]

      • (b) the business of issuing contracts all or any part of the issuer’s reserves for which vary in amount depending on the fair market value of a specified group of assets,

      [...]

      low rate income pool

      low rate income pool  has the meaning assigned by subsection 89(1); (compte de revenu à taux réduit)

      majority-interest partner

      majority-interest partner , of a particular partnership at any time, means a person or partnership (in this definition referred to as the “taxpayer”)

      • (a) whose share of the particular partnership’s income from all sources for the last fiscal period of the particular partnership that ended before that time (or, if the particular partnership’s first fiscal period includes that time, for that period) would have exceeded 1/2 of the particular partnership’s income from all sources for that period if the taxpayer had held throughout that period each interest in the partnership that the taxpayer or a person affiliated with the taxpayer held at that time, or

      • (b) whose share, if any, together with the shares of every person with whom the taxpayer is affiliated, of the total amount that would be paid to all members of the particular partnership (otherwise than as a share of any income of the partnership) if it were wound up at that time exceeds 1/2 of that amount; (associé détenant une participation majoritaire)

      mineral resource

      mineral resource  means

      • [...]

      • (d) a mineral deposit in respect of which

        • [...]

        • (ii) the principal mineral extracted is ammonite gemstone, calcium chloride, diamond, gypsum, halite, kaolin or sylvite, or

      money purchase limit

      money purchase limit  for a calendar year has the meaning assigned by subsection 147.1(1); (plafond des cotisations déterminées)

      net corporate income tax rate

      net corporate income tax rate  in respect of a SIFT trust or SIFT partnership for a taxation year means the amount, expressed as a decimal fraction, by which

      • (a) the percentage rate of tax provided under paragraph 123(1)(a) for the taxation year

      [...]

      • (b) the total of

        • (i) the percentage that would, if the SIFT trust or SIFT partnership were a corporation, be its general rate reduction percent- age, within the meaning assigned by subsection 123.4(1), for the taxation year, and

        • (ii) the percentage deduction from tax provided under subsection 124(1) for the taxation year; (taux net d’imposition du revenu des sociétés)

      non-portfolio property

      non-portfolio property  has the same meaning as in subsection 122.1(1); (bien hors portefeuille)

      oil or gas well

      oil or gas well  means any well (other than an exploratory probe or a well drilled from below the surface of the earth) drilled for the purpose of producing petroleum or natural gas or of determining the existence, location, extent or quality of a natural accumulation of petroleum or natural gas, but, for the purpose of applying sections 13 and 20 and any regulations made for the purpose of paragraph 20(1)(a) in respect of property acquired after March 6, 1996, does not include a well for the extraction of material from a deposit of bituminous sands or oil shales; (puits de pétrole ou de gaz)

      paid-up capital

      paid-up capital  has the meaning assigned by subsection 89(1); (capital versé)

      Part VII refund

      Part VII refund  has the meaning assigned by subsection 192(2); (remboursement de la partie VII)

      Part VIII refund

      Part VIII refund  has the meaning assigned by subsection 194(2); (remboursement de la partie VIII)

      person

      person , or any word or expression descriptive of a person, includes any corporation, and any entity exempt, because of subsection 149(1), from tax under Part I on all or part of the entity’s taxable income and the heirs, executors, liquidators of a succession, administrators or other legal representatives of such a person, according to the law of that part of Canada to which the context extends; (personne)

      personal trust

      personal trust  means a trust (other than a trust that is, or was at any time after 1999, a unit trust) that is

      • [...]

      • (b) a trust in which no beneficial interest was acquired for consideration payable directly or indirectly to

        • [...]

        • (ii) any person or partnership that has made a contribution to the trust by way of transfer, assignment or other disposition of property; (fiducie personnelle)

      pooled pension plan

      pooled pension plan  has the same meaning as in subsection 147.5(1); (régime de pension collectif)

      pooled registered pension plan

      pooled registered pension plan or PRPP  has the same meaning as in subsection 147.5(1); (régime de pension agréé collectif ou RPAC)

      private corporation

      private corporation  has the meaning assigned by subsection 89(1); (société privée)

      profit sharing plan

      profit sharing plan  has the meaning assigned by subsection 147(1); (régime de participation aux bénéfices)

      public corporation

      public corporation  has the meaning assigned by subsection 89(1); (société publique)

      public market

      public market  has the same meaning as in subsection 122.1(1); (marché public)

      qualified Canadian journalism organization

      qualified Canadian journalism organization , at any time, means a corporation, partnership or trust that

      • (a) meets the following conditions:

        • [...]

        • (ii) in the case of a partnership,

          • [...]

          • (B) individuals who are citizens of Canada or persons, or partnerships, described in any of subparagraphs (i) to (iii) hold interests in the partnership

            • [...]

            • (II) that result in at least 75% of each income or loss of the partnership from any source being included in the determination of their incomes,

        • (iii) in the case of a trust,

          • [...]

          • (C) if interests as a beneficiary under the trust are held by one or more persons or partnerships, at least 75% of the fair market value of all interests as a beneficiary under the trust are held by

            • [...]

            • (II) persons or partnerships described in any of subparagraphs (i) to (iii),

      qualified donee

      qualified donee  has the meaning assigned by subsection 149.1(1); (donataire reconnu)

      qualifying environmental trust

      qualifying environmental trust  has the meaning assigned by subsection 211.6(1); (fiducie pour l’environnement admissible)

      refundable Part VII tax on hand

      refundable Part VII tax on hand  has the meaning assigned by subsection 192(3); (impôt de la partie VII en main remboursable)

      refundable Part VIII tax on hand

      refundable Part VIII tax on hand  has the meaning assigned by subsection 194(3); (impôt de la partie VIII en main remboursable)

      registered Canadian amateur athletic association

      registered Canadian amateur athletic association  means a Canadian amateur athletic association within the meaning assigned by subsection 149.1(1) that has applied to the Minister in prescribed form for registration, that has been registered and whose registration has not been revoked; (association canadienne enregistrée de sport amateur)

      registered charity

      registered charity  at any time means

      • (a) a charitable organization, private foundation or public foundation, within the meanings assigned by subsection 149.1(1), that is resident in Canada and was either created or established in Canada, or

      [...]

      registered disability savings plan

      registered disability savings plan or RDSP  has the same meaning as in subsection 146.4(1); (régime enregistré d’épargne-invalidité ou REEI)

      registered education savings plan

      registered education savings plan or RESP  has the same meaning as in subsection 146.1(1); (régime enregistré d’épargne-études ou REEE)

      registered investment

      registered investment  has the meaning assigned by subsection 204.4(1); (placement enregistré)

      registered journalism organization

      registered journalism organization  means a qualifying journalism organization (as defined in subsection 149.1(1)) that has applied to the Minister in prescribed form for registration, that has been registered and whose registration has not been revoked; (organisation journalistique enregistrée)

      registered labour-sponsored venture capital corporation

      registered labour-sponsored venture capital corporation  means a corporation that was registered under subsection 204.81(1), the registration of which has not been revoked; (société agréée à capital de risque de travailleurs)

      registered retirement income fund

      registered retirement income fund or RRIF  have the same meaning as registered retirement income fund in subsection 146.3(1); (fonds enregistré de revenu de retraite ou FERR)

      registered retirement savings plan

      registered retirement savings plan or RRSP  have the same meaning as registered retirement savings plan in subsection 146(1); (régime enregistré d’épargne-retraite ou REER)

      registered supplementary unemployment benefit plan

      registered supplementary unemployment benefit plan  has the meaning assigned by subsection 145(1); (régime enregistré de prestations supplémentaires de chômage)

      relevant factor

      relevant factor  means

      • [...]

      • (b) for taxation years that end after 2009, the amount determined by the formula

        1/(A – B)

        where

        A 
        is the percentage set out in paragraph 123(1)(a), and
      restricted financial institution

      restricted financial institution  means

      • [...]

      • (e.1) a corporation described in paragraph (g) of the definition financial institution in subsection 181(1), or

      retirement compensation arrangement

      retirement compensation arrangement  means a plan or arrangement under which contributions (other than payments made to acquire an interest in a life insurance policy) are made by an employer or former employer of a taxpayer, or by a person with whom the employer or former employer does not deal at arm’s length, to another person or partnership (in this definition and in Part XI.3 referred to as the “custodian”) in connection with benefits that are to be or may be received or enjoyed by any person on, after or in contemplation of any substantial change in the services rendered by the taxpayer, the retirement of the taxpayer or the loss of an office or employment of the taxpayer, but does not include

      • [...]

      • (i) a vacation pay trust described in paragraph 149(1)(y),

      • (j) a plan or arrangement established for the purpose of deferring the salary or wages of a professional athlete for his services as such with a team that participates in a league having regularly scheduled games (in this definition referred to as an “athlete’s plan”), where

        • [...]

        • (ii) in the case of a Canadian team, the custodian of the plan or arrangement carries on business through a fixed place of business in Canada and is licensed or otherwise authorized under the laws of Canada or a province to carry on in Canada the business of offering to the public its services as trustee,

      • (k) a salary deferral arrangement, whether or not deferred amounts thereunder are required to be included as benefits under paragraph 6(1)(a) in computing a taxpayer’s income,

      [...]

      retirement income fund

      retirement income fund  has the meaning assigned by subsection 146.3(1); (fonds de revenu de retraite)

      retirement savings plan

      retirement savings plan  has the meaning assigned by subsection 146(1); (régime d’épargne-retraite)

      retiring allowance

      retiring allowance  means an amount (other than a superannuation or pension benefit, an amount received as a consequence of the death of an employee or a benefit described in subparagraph 6(1)(a)(iv)) received

      [...]

      RRSP deduction limit

      RRSP deduction limit  has the meaning assigned by subsection 146(1); (maximum déductible au titre des REER)

      RRSP dollar limit

      RRSP dollar limit  has the meaning assigned by subsection 146(1); (plafond REER)

      salary deferral arrangement

      salary deferral arrangement , in respect of a taxpayer, means a plan or arrangement, whether funded or not, under which any person has a right in a taxation year to receive an amount after the year where it is reasonable to consider that one of the main purposes for the creation or existence of the right is to postpone tax payable under this Act by the taxpayer in respect of an amount that is, or is on account or in lieu of, salary or wages of the taxpayer for services rendered by the taxpayer in the year or a preceding taxation year (including such a right that is subject to one or more conditions unless there is a substantial risk that any one of those conditions will not be satisfied), but does not include

      • [...]

      • (h) a vacation pay trust described in paragraph 149(1)(y),

      salary or wages

      salary or wages , except in sections 5 and 63 and the definition death benefit in this subsection, means the income of a taxpayer from an office or employment as computed under Subdivision A of Division B of Part I and includes all fees received for services not rendered in the course of the taxpayer’s business but does not include superannuation or pension benefits or retiring allowances; (traitement ou salaire)

      securities lending arrangement

      securities lending arrangement  has the meaning assigned by subsection 260(1); (mécanisme de prêt de valeurs mobilières)

      share

      share , except as the context otherwise requires, means a share or a fraction of a share of the capital stock of a corporation and, for greater certainty, a share of the capital stock of a corporation includes a share of the capital of a cooperative corporation (within the meaning assigned by subsection 136(2)), a share of the capital of an agricultural cooperative corporation (within the meaning assigned by subsection 135.1(1)) and a share of the capital of a credit union; (action)

      short-term preferred share

      short-term preferred share  of a corporation at any particular time means a share, other than a grandfathered share, of the capital stock of the corporation issued after December 15, 1987 that at that particular time

      • (a) is a share where, under the terms and conditions of the share, any agreement relating to the share or any modification of those terms and conditions or that agreement, the corporation or a specified person in relation to the corporation is or may, at any time within 5 years after the date of its issue, be required to redeem, acquire or cancel, in whole or in part, the share (unless the requirement to redeem, acquire or cancel the share arises only in the event of the death of the shareholder or by reason only of a right to convert or exchange the share) or to reduce the paid-up capital of the share, and for the purposes of this paragraph

        • (i) an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount

          • (A) in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or

        • (ii)  shareholder includes a shareholder of a shareholder, or

      • (b) is a share that is convertible or exchangeable at any time within 5 years after the date of its issue, unless

        • [...]

        • (ii) all the consideration receivable for the share on the conversion or exchange is the share described in clause (A) or the right or warrant described in clause (B) or both, as the case may be, and for the purposes of this subparagraph, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of clauses (A) to (C)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1 or VI.1,

      [...]

      • (c) where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, the terms or conditions of a share of the capital stock of a corporation that are relevant to any matter referred to in any of paragraphs (a), (b), (f) and (h) are established or modified, or any agreement in respect of any such matter to which the corporation or a specified person in relation to the corporation is a party, is changed or entered into, the share shall be deemed after that particular time to have been issued at that particular time,

      • (d) where at any particular time after December 15, 1987 a particular share of the capital stock of a corporation has been issued or its terms or conditions have been modified or an agreement in respect of the share is modified or entered into, and it may reasonably be considered, having regard to all the circumstances, including the rate of interest on any debt obligation or the dividend provided on any short-term preferred share, that

        • [...]

        • (ii) one of the main purposes for the issue of the particular share or the modification of its terms or conditions or the modification or entering into the agreement in respect of the share was to avoid or limit the tax payable under subsection 191.1(1),

      [...]

      • (e) where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, the terms or conditions of a share of the capital stock of a corporation are modified or established or any agreement in respect of the share has been changed or entered into, and as a consequence thereof the corporation or a specified person in relation to the corporation may reasonably be expected to redeem, acquire or cancel (otherwise than by reason of the death of the shareholder or by reason only of a right to convert or exchange the share that would not cause the share to be a short-term preferred share by reason of paragraph (b)), in whole or in part, the share, or to reduce its paid-up capital, within 5 years after the particular time, the share shall be deemed to have been issued at that particular time and to be a short-term preferred share of the corporation after the particular time until the time that that reasonable expectation ceases to exist and, for the purposes of this paragraph,

        • (i) an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount

          • (A) in the case of a share (other than a share that would, but for that part of the agreement, be a taxable preferred share) the agreement in respect of which provides that the share is to be acquired within 60 days after the day on which the agreement was entered into, that does not exceed the greater of the fair market value of the share at the time the agreement was entered into, determined without reference to the agreement, and the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or

        • (ii)  shareholder includes a shareholder of a shareholder,

      • (f) if a share of the capital stock of a corporation was issued after December 15, 1987 and at the time the share was issued the existence of the corporation was, or there was an arrangement under which it could be, limited to a period that was within five years from the date of its issue, the share is deemed to be a short-term preferred share of the corporation unless

        • [...]

        • (ii) the share is issued to an individual after April 14, 2005 under an agreement referred to in subsection 7(1), if when the individual last acquired a right under the agreement to acquire a share of the capital stock of the corporation, the existence of the corporation was not, and no arrangement was in effect under which it could be, limited to a period that was within five years from the date of that last acquisition,

      • [...]

      • (h) where at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, as a result of the terms or conditions of a share of the capital stock of a corporation or any agreement entered into by the corporation or a specified person in relation to the corporation, any person (other than the corporation or an individual other than a trust) was obligated, either absolutely or contingently and either immediately or in the future, to effect any undertaking within 5 years after the day on which the share was issued (in this paragraph referred to as a “guarantee agreement”) including any guarantee, covenant or agreement to purchase or repurchase the share, and including the lending of funds or the placing of amounts on deposit with, or on behalf of the shareholder or a specified person in relation to the shareholder given

        • [...]

        • (ii) as part of a transaction or event or series of transactions or events that included the issuance of the share,

        the share shall be deemed after that particular time to have been issued at the particular time and to be at and immediately after the particular time a short-term preferred share, and for the purposes of this paragraph, where a guarantee agreement in respect of a share is given at any particular time after December 15, 1987, otherwise than pursuant to a written arrangement to do so entered into before December 16, 1987, the share shall be deemed to have been issued at the particular time and the guarantee agreement shall be deemed to have been given as part of a series of transactions that included the issuance of the share,

      SIFT trust wind-up event

      SIFT trust wind-up event  means a distribution by a particular trust resident in Canada of property to a taxpayer in respect of which the following conditions are met:

      • [...]

      • (c) the particular trust is

        • [...]

        • (ii) a trust whose only beneficiary throughout the period (referred to in this definition as the “qualifying period”) that begins on July 14, 2008 and that ends at the time of the distribution is another trust that throughout the qualifying period

          [...]

        • (iii) a trust whose only beneficiary at the time of distribution is another trust that throughout the qualifying period

          • [...]

          • (B) is a SIFT wind-up entity or a trust described by subparagraph (ii), and

      • [...]

      • (e) the property was not acquired by the particular trust as a result of a transfer or an exchange

        • (i) that is

          • (A) a qualifying exchange as defined in subsection 132.2(1) or a qualifying disposition as defined in subsection 107.4(1),

        • (ii) to which any of sections 51, 85, 85.1, 86, 87, 88, 107.4 or 132.2 applies, of another property acquired as a result of a transfer or an exchange described by subparagraph (i) or this subparagraph; (fait lié à la conversion d’une EIPD-fiducie)

      SIFT wind-up corporation

      SIFT wind-up corporation , in respect of a SIFT wind-up entity, means at any particular time a corporation

      • (a) that, at any time that is after July 13, 2008 and before the earlier of the particular time and January 1, 2013, owns all of the equity in the SIFT wind-up entity, or

      SIFT wind-up entity

      SIFT wind-up entity  means a trust or partnership that at any time in the period that began on October 31, 2006 and that ends on July 14, 2008 is

      • [...]

      • (c) a real estate investment trust (as defined in subsection 122.1(1)); (EIPD convertible)

      SIFT wind-up entity equity

      SIFT wind-up entity equity , or equity in a SIFT wind-up entity, means

      [...]

      except that if all of the interests described in paragraph (a) or (b), as the case may be, in the SIFT wind-up entity are described by reference to units, it means the part of the interest represented by such a unit; (intérêt dans une EIPD convertible)

      small business corporation

      small business corporation , at any particular time, means, subject to subsection 110.6(15), a particular corporation that is a Canadian-controlled private corporation all or substantially all of the fair market value of the assets of which at that time is attributable to assets that are

      [...]

      including, for the purpose of paragraph 39(1)(c), a corporation that was at any time in the 12 months preceding that time a small business corporation, and, for the purpose of this definition, the fair market value of a net income stabilization account shall be deemed to be nil; (société exploitant une petite entreprise)

      specified financial institution

      specified financial institution , at any time, means

      • [...]

      • (e.1) a corporation described in paragraph (g) of the definition financial institution in subsection 181(1),

      • [...]

      • (g) a corporation that is related to a particular corporation described in any of paragraphs (a) to (f), other than a particular corporation described in paragraph (e) or (e.1) the principal business of which is the factoring of trade accounts receivable that

        • [...]

        • (ii) arose in the course of an active business carried on by a person (in this paragraph referred to as the “business entity”) related at that time to the particular corporation, and

      specified future tax consequence

      specified future tax consequence  for a taxation year means

      • [...]

      • (b) the consequence of a reduction under subsection 66(12.73) of a particular amount purported to be renounced by a corporation after the beginning of the year to a person or partnership under subsection 66(12.6) or 66(12.601) because of the application of subsection 66(12.66), determined as if the purported renunciation would, but for subsection 66(12.73), have been effective only where

        • [...]

        • (ii) the effective date of the purported renunciation was the last day of the preceding calendar year,

      specified individual

      specified individual  has the meaning assigned by subsection 120.4(1); (particulier déterminé)

      specified member

      specified member  of a partnership in a fiscal period or taxation year of the partnership, as the case may be, means

      • [...]

      • (b) any member of the partnership, other than a member who is

        • [...]

        • (ii) carrying on a similar business as that carried on by the partnership in its taxation year, otherwise than as a member of a partnership,

      on a regular, continuous and substantial basis throughout that part of the period or year during which the business of the partnership is ordinarily carried on and during which the member is a member of the partnership; (associé déterminé)

      specified proportion

      specified proportion , of a member of a partnership for a fiscal period of the partnership, means the proportion that the member’s share of the total income or loss of the partnership for the partnership’s fiscal period is of the partnership’s total income or loss for that period and, for the purpose of this definition, where that income or loss for a period is nil, that proportion shall be computed as if the partnership had income for that period in the amount of $1,000,000; (proportion déterminée)

      split income

      split income  has the meaning assigned by subsection 120.4(1); (revenu fractionné)

      superannuation or pension benefit

      superannuation or pension benefit  includes any amount received out of or under a superannuation or pension fund or plan (including, except for the purposes of subparagraph 56(1)(a)(i), a pooled registered pension plan) and, without restricting the generality of the foregoing, includes any payment made to a beneficiary under the fund or plan or to an employer or former employer of the beneficiary under the fund or plan

      [...]

      supplementary unemployment benefit plan

      supplementary unemployment benefit plan  has the meaning assigned by subsection 145(1); (régime de prestations supplémentaires de chômage)

      synthetic disposition arrangement

      synthetic disposition arrangement , in respect of a property owned by a taxpayer, means one or more agreements or other arrangements that

      • [...]

      • (c) can, in respect of any agreement or arrangement entered into by a person or partnership that does not deal at arm’s length with the taxpayer, reasonably be considered to have been entered into, in whole or in part, with the purpose of obtaining the effect described in paragraph (b); (arrangement de disposition factice)

      synthetic equity arrangement

      synthetic equity arrangement  in respect of a DRA share of a person or partnership (referred to in this definition as the particular person),

      • (a) means one or more agreements or other arrangements that

        • [...]

        • (ii) have the effect, or would have the effect, if each agreement entered into by a connected person were entered into by the particular person, of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share to a counterparty or a group of counterparties each member of which is affiliated with every other member and, for greater certainty, opportunity for gain or profit includes rights to, benefits from and distributions on a share, and

        • (iii) if entered into by a connected person, can reasonably be considered to have been entered into with the knowledge, or where there ought to have been the knowledge, that the effect described in subparagraph (ii) would result, and

      • (b) does not include

        • (i) an agreement that is traded on a recognized derivatives exchange unless it can reasonably be considered that, at the time the agreement is entered into,

          • (A) the particular person or the connected person, as the case may be, knows or ought to know that the agreement is part of a series of transactions that has the effect of providing all or substantially all of the risk of loss and opportunity for gain or profit in respect of the DRA share to a tax-indifferent investor, or a group of tax-indifferent investors each member of which is affiliated with every other member, or

        • (ii) one or more agreements or other arrangements that, but for this subparagraph, would be a synthetic equity arrangement, in respect of a share owned by the particular person (in this subparagraph referred to as the synthetic short position), if

          [...]

        • (iii) an agreement to purchase the shares of a corporation, or a purchase agreement that is part of a series of agreements to purchase the shares of a corporation, under which a counterparty or a group of counterparties each member of which is affiliated with every other member acquires control of the corporation that has issued the shares being purchased, unless the main reason for establishing, incorporating or operating the corporation is to have this subparagraph apply; (arrangement de capitaux propres synthétiques)

      synthetic equity arrangement chain

      synthetic equity arrangement chain , in respect of a share owned by a person or partnership, means a synthetic equity arrangement — or a synthetic equity arrangement in combination with one or more specified synthetic equity arrangements — where

      • (a) no party to the synthetic equity arrangement or a specified synthetic equity arrangement, if any, is a tax-indifferent investor, and

      • (b) each other party to these agreements or arrangements is affiliated with the person or partnership; (chaîne d’arrangements de capitaux propres synthétiques)

      tar sands

      tar sands  means bituminous sands or oil shales extracted, otherwise than by a well, from a mineral resource, but, for the purpose of applying sections 13 and 20 and any regulations made for the purpose of paragraph 20(1)(a) in respect of property acquired after March 6, 1996, includes material extracted by a well from a deposit of bituminous sands or oil shales; (sables asphaltiques)

      taxable Canadian corporation

      taxable Canadian corporation  has the meaning assigned by subsection 89(1); (société canadienne imposable)

      taxable Canadian property

      taxable Canadian property  of a taxpayer at any time in a taxation year means a property of the taxpayer that is

      • [...]

      • (b) property used or held by the taxpayer in, property included in Class 14.1 of Schedule II to the Income Tax Regulations in respect of, or property described in an inventory of, a business carried on in Canada, other than

        • [...]

        • (ii) where the taxpayer is non-resident, ships and aircraft used principally in international traffic and personal or movable property pertaining to their operation if the country in which the taxpayer is resident does not impose tax on gains of persons resident in Canada from dispositions of such property,

      • [...]

      • (d) a share of the capital stock of a corporation (other than a mutual fund corporation) that is not listed on a designated stock exchange, an interest in a partnership or an interest in a trust (other than a unit of a mutual fund trust or an income interest in a trust resident in Canada), if, at any particular time during the 60-month period that ends at that time, more than 50% of the fair market value of the share or interest, as the case may be, was derived directly or indirectly (otherwise than through a corporation, partnership or trust the shares or interests in which were not themselves taxable Canadian property at the particular time) from one or any combination of

        • [...]

        • (ii) Canadian resource properties,

      • (e) a share of the capital stock of a corporation that is listed on a designated stock exchange, a share of the capital stock of a mutual fund corporation or a unit of a mutual fund trust, if, at any particular time during the 60-month period that ends at that time,

        • [...]

        • (ii) more than 50% of the fair market value of the share or unit, as the case may be, was derived directly or indirectly from one or any combination of properties described under subparagraphs (d)(i) to (iv), or

      and, for the purposes of section 2, subsection 107(2.001) and sections 128.1 and 150, and for the purpose of applying paragraphs 85(1)(i) and 97(2)(c) to a disposition by a non-resident person, includes

      [...]

      taxable dividend

      taxable dividend  has the meaning assigned by subsection 89(1); (dividende imposable)

      taxable income earned in Canada

      taxable income earned in Canada  means a taxpayer’s taxable income earned in Canada determined in accordance with Division D of Part I, except that in no case may a taxpayer’s taxable income earned in Canada be less than nil; (revenu imposable gagné au Canada)

      taxable preferred share

      taxable preferred share  at any particular time means

      • [...]

      • (b) a share (other than a grandfathered share) of the capital stock of a corporation issued after 8:00 p.m Eastern Daylight Saving Time, June 18, 1987 where, at that particular time by reason of the terms or conditions of the share or any agreement in respect of the share or its issue to which the corporation, or a specified person in relation to the corporation, is a party,

        • [...]

        • (ii) it may reasonably be considered, having regard to all the circumstances, that the amount that the shareholder is entitled to receive in respect of the share on the dissolution, liquidation or winding-up of the corporation or on the redemption, acquisition or cancellation of the share (unless the requirement to redeem, acquire or cancel the share arises only in the event of the death of the shareholder or by reason only of a right to convert or exchange the share) or on a reduction of the paid-up capital of the share by the corporation or by a specified person in relation to the corporation (in this definition referred to as the “liquidation entitlement”) is, by way of a formula or otherwise

          [...]

        • (iii) the share is convertible or exchangeable at any time, unless

          • (A) it is convertible into or exchangeable for

            • [...]

            • (II) a right or warrant that, if exercised, would allow the person exercising it to acquire only a share of the corporation or a corporation related to the corporation that, if issued, would not be a taxable preferred share, or

            • (III) both a share described in subclause (I) and a right or warrant described in subclause (II), and

          • (B) all the consideration receivable for the share on the conversion or exchange is the share described in subclause (I) or the right or warrant described in subclause (II) or both, as the case may be, and, for the purposes of this clause, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of subclauses (I) to (III)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1 or VI.1, or

        • (iv) any person (other than the corporation) was, at or immediately before that particular time, obligated, either absolutely or contingently, and either immediately or in the future, to effect any undertaking (in this subparagraph referred to as a “guarantee agreement”), including any guarantee, covenant or agreement to purchase or repurchase the share, and including the lending of funds to or the placing of amounts on deposit with, or on behalf of, the shareholder or any specified person in relation to the shareholder given

          [...]

          and the guarantee agreement was given as part of a transaction or event or a series of transactions or events that included the issuance of the share and, for the purposes of this paragraph, where a guarantee agreement in respect of a share is given at any particular time after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, otherwise than pursuant to a written arrangement to do so entered into before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, the share shall be deemed to have been issued at the particular time and the guarantee agreement shall be deemed to have been given as part of a series of transactions that included the issuance of the share,

      [...]

      • (c) the dividend entitlement of a share of the capital stock of a corporation shall be deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all dividends on the share are determined solely by reference to the dividend entitlement of another share of the capital stock of the corporation or of another corporation that controls the corporation that would not be a taxable preferred share if

        • [...]

        • (ii) the other share were issued after June 18, 1987, and

      • (d) the liquidation entitlement of a share of the capital stock of a corporation shall be deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all the liquidation entitlement is determinable solely by reference to the liquidation entitlement of another share of the capital stock of the corporation or of another corporation that controls the corporation that would not be a taxable preferred share if

        • [...]

        • (ii) the other share were issued after June 18, 1987, and

      • (e) where at any particular time after 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, otherwise than pursuant to a written arrangement to do so entered into before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987, the terms or conditions of a share of the capital stock of a corporation that are relevant to any matter referred to in any of subparagraphs (b)(i) to (b)(iv) are established or modified or any agreement in respect of any such matter, to which the corporation or a specified person in relation to the corporation is a party, is changed or entered into, the share shall, for the purpose of determining after the particular time whether it is a taxable preferred share, be deemed to have been issued at that particular time, unless

        • [...]

        • (ii) the particular time is before December 16, 1987 and before the time at which the share is first issued,

      • (f) an agreement in respect of a share of the capital stock of a corporation shall be read without reference to that part of the agreement under which a person agrees to acquire the share for an amount

        • [...]

        • (ii) that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement, or for an amount determined by reference to the assets or earnings of the corporation where that determination may reasonably be considered to be used to determine an amount that does not exceed the fair market value of the share at the time of the acquisition, determined without reference to the agreement,

      • (g) where

        • [...]

        • (ii) it may reasonably be considered that the share was issued or acquired as part of a transaction or event or series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1 or VI.1,

        [...]

      taxable RFI share

      taxable RFI share  at any particular time means a share of the capital stock of a corporation issued before 8:00 p.m. Eastern Daylight Saving Time, June 18, 1987 or a grandfathered share of the capital stock of a corporation, where at the particular time under the terms or conditions of the share or any agreement in respect of the share,

      • (a) it may reasonably be considered, having regard to all the circumstances, that the amount of the dividends that may be declared or paid on the share (in this definition referred to as the “dividend entitlement”) is, by way of a formula or otherwise

        • [...]

        • (ii) limited to a maximum, or

      • (b) it may reasonably be considered, having regard to all the circumstances, that the amount that the shareholder is entitled to receive in respect of the share on the dissolution, liquidation or winding-up of the corporation (in this definition referred to as the “liquidation entitlement”) is, by way of formula or otherwise

        • [...]

        • (ii) limited to a maximum, or

      [...]

      • (c) the dividend entitlement of a share of the capital stock of a corporation shall be deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all dividends on the share are determined solely by reference to the dividend entitlement of another share of the capital stock of the corporation or of another corporation that controls the corporation that would not be a taxable preferred share if

        • [...]

        • (ii) the other share were issued after June 18, 1987, and

      • (d) the liquidation entitlement of a share of the capital stock of a corporation shall be deemed not to be fixed, limited to a maximum or established to be not less than a minimum where all the liquidation entitlement is determinable solely by reference to the liquidation entitlement of another share of the capital stock of the corporation or of another corporation that controls the corporation that would not be a taxable preferred share if

        • [...]

        • (ii) the other share were issued after June 18, 1987, and

      • (e) where

        • [...]

        • (ii) it may reasonably be considered that the share was issued or acquired as part of a transaction or event or series of transactions or events one of the main purposes of which was to avoid or limit the application of Part IV.1,

        [...]

      tax-indifferent investor

      tax-indifferent investor , at any time, means a person or partnership that is at that time

      • [...]

      • (c) a trust resident in Canada (other than a specified mutual fund trust) if any of the interests as a beneficiary under the trust is not a fixed interest (as defined in subsection 251.2(1)) in the trust (in this definition referred to as a discretionary trust),

      tax shelter

      tax shelter  has the meaning assigned by subsection 237.1(1); (abri fiscal)

      10/8 policy

      10/8 policy  means a life insurance policy (other than an annuity) where

      • (a) an amount is or may become

        • [...]

        • (ii) payable (within the meaning assigned by the definition amount payable in subsection 138(12)) under a policy loan (as defined in subsection 148(9)) made in accordance with the terms and conditions of the policy, and

      • (b) either

        • [...]

        • (ii) the maximum amount of an investment account in respect of the policy is determined by reference to the amount of the borrowing or policy loan, as the case may be, described in paragraph (a); (police 10/8)

      term preferred share

      term preferred share  of a corporation (in this definition referred to as the issuing corporation) means a share of a class of the capital stock of the issuing corporation if the share was issued or acquired after June 28, 1982 and, at the time the share was issued or acquired, the existence of the issuing corporation was, or there was an arrangement under which it could be, limited or, in the case of a share issued after November 16, 1978 if

      • (a) under the terms or conditions of the share, any agreement relating to the share or any modification of those terms or conditions or that agreement,

        • [...]

        • (ii) the issuing corporation or any other person or partnership is or may be required to redeem, acquire or cancel, in whole or in part, the share (unless the requirement to redeem, acquire or cancel the share arises by reason only of a right to convert or exchange the share) or to reduce its paid-up capital,

        • [...]

        • (iv) the share is convertible or exchangeable unless

          • (A) it is convertible into or exchangeable for

            • [...]

            • (II) a right or warrant that, if exercised, would allow the person exercising it to acquire only a share of the issuing corporation or a corporation related to the issuing corporation that, if issued, would not be a term preferred share, or

            • (III) both a share described in subclause (I) and a right or warrant described in subclause (II), and

          • (B) all the consideration receivable for the share on the conversion or exchange is the share described in subclause (A)(I) or the right or warrant described in subclause (A)(II) or both, as the case may be, and, for the purposes of this clause, where a taxpayer may become entitled on the conversion or exchange of a share to receive any particular consideration (other than consideration described in any of subclauses (A)(I) to (A)(III)) in lieu of a fraction of a share, the particular consideration shall be deemed not to be consideration unless it may reasonably be considered that the particular consideration was receivable as part of a series of transactions or events one of the main purposes of which was to avoid or limit the application of subsection 112(2.1) or 258(3), or

      • (b) the owner thereof acquired the share after October 23, 1979 and is

        • [...]

        • (ii) a corporation that is controlled by one or more corporations described in subparagraph (i),

        • (iii) a corporation that acquired the share after December 11, 1979 and is related to a corporation referred to in subparagraph (i) or (ii), or

        • (iv) a partnership or trust of which a corporation referred to in subparagraph (i) or (ii) or a person related thereto is a member or a beneficiary,

        [...]

      [...]

      • [...]

      • (d) that was issued as a stock dividend

        • [...]

        • (ii) after April 21, 1980 on a share that was, at the time the stock dividend was paid, a share prescribed for the purposes of paragraph (f),

      • (d.1) that is listed on a designated stock exchange in Canada and was issued before April 22, 1980 by

        • [...]

        • (ii) a corporation whose principal business is the lending of money or the purchasing of debt obligations or a combination thereof, or

        • (iii) an issuing corporation associated with a corporation described in subparagraph (i) or (ii),

      • (e) for a period not exceeding ten years and, in the case of a share issued after November 12, 1981, for a period not exceeding five years, from the date of its issuance, which share was issued by a corporation resident in Canada,

        • (i) as part of a proposal to, or an arrangement with, its creditors that had been approved by a court under the Bankruptcy and Insolvency Act,

        • (ii) at a time when all or substantially all of its assets were under the control of a receiver, receiver-manager, sequestrator or trustee in bankruptcy, or

        • (iii) at a time when, by reason of financial difficulty, the issuing corporation or another corporation resident in Canada with which it does not deal at arm’s length was in default, or could reasonably be expected to default, on a debt obligation held by a person with whom the issuing corporation or the other corporation was dealing at arm’s length and the share was issued either wholly or in substantial part and either directly or indirectly in exchange or substitution for that obligation or a part thereof,

        [...]

      • [...]

      • (f.1) that is a taxable preferred share held by a specified financial institution that acquired the share

        • [...]

        • (ii) before 1989 pursuant to an agreement in writing entered into before December 16, 1987,

        [...]

      [...]

      • [...]

      • (h) where

        • [...]

        • (ii) under the terms or conditions of

          [...]

        • [...]

        • (iv) at a particular time after October 23, 1979 and before November 13, 1981, a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquired a share that

          • [...]

          • (B) was issued to a person other than a corporation that was, at the time of issue,

            • [...]

            • (II) a corporation that was controlled by one or more corporations described in subclause (I) and, for the purpose of this subclause, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length,

          • (C) was acquired from a person that was, at the particular time, a person other than a corporation described in subclause (B)(I) or (II), and

        • (v) at any particular time after November 12, 1981

          • (A) in respect of

            • [...]

            • (II) a share issued after November 12, 1981 and before 1983 pursuant to an agreement in writing to do so made before November 13, 1981 (in this definition referred to as a “specified agreement”)

          [...]

          • (B) the redemption date of

            • [...]

            • (II) a share issued pursuant to a specified agreement

          [...]

        [...]

      • (i) where the terms or conditions of a share of the capital stock of the issuing corporation are modified or established after June 28, 1982 and as a consequence thereof the issuing corporation, any person related thereto or any partnership or trust of which the issuing corporation or a person related thereto is a member or a beneficiary may reasonably be expected at any time to redeem, acquire or cancel, in whole or in part, the share or to reduce its paid-up capital, the share shall be deemed as from the date of the modification or as from the date of the establishment, as the case may be, to be a share described in paragraph (a),

      • (i.1) where

        • [...]

        • (ii) it may reasonably be considered that the share was issued or acquired as part of a transaction or event or series of transactions or events one of the main purposes of which was to avoid or limit the application of subsection 112(2.1) or 138(6),

        [...]

      • [...]

      • (j) where a particular share of the capital stock of a corporation has been issued or its terms and conditions have been modified and it may reasonably be considered, having regard to all circumstances (including the rate of interest on any debt or the dividend provided on any term preferred share), that

        • [...]

        • (ii) one of the main purposes for the issue of the particular share or for the modification of its terms or conditions was to avoid a limitation provided by subsection 112(2.1) or 138(6) in respect of a deduction,

        [...]

      testamentary trust

      testamentary trust  has the meaning assigned by subsection 108(1); (fiducie testamentaire)

      treaty-protected business

      treaty-protected business  of a taxpayer at any time means a business in respect of which any income of the taxpayer for a period that includes that time would, because of a tax treaty with another country, be exempt from tax under Part I; (entreprise protégée par traité)

      treaty-protected property

      treaty-protected property  of a taxpayer at any time means property any income or gain from the disposition of which by the taxpayer at that time would, because of a tax treaty with another country, be exempt from tax under Part I; (bien protégé par traité)

      trust

      trust  has the meaning assigned by subsection 104(1) and, unless the context otherwise requires, includes an estate; (fiducie)

      unused RRSP deduction room

      unused RRSP deduction room  of a taxpayer at the end of a taxation year has the meaning assigned by subsection 146(1); (déductions inutilisées au titre des REER)

      unused scientific research and experimental development tax credit

      unused scientific research and experimental development tax credit  of a taxpayer for a taxation year has the meaning assigned by subsection 127.3(2); (partie inutilisée du crédit d’impôt pour des activités de recherche scientifique et de développement expérimental)

      unused share-purchase tax credit

      unused share-purchase tax credit  of a taxpayer for a taxation year has the meaning assigned by subsection 127.2(6); (partie inutilisée du crédit d’impôt à l’achat d’actions)

      zero-emission passenger vehicle

      zero-emission passenger vehicle , of a taxpayer, means an automobile of the taxpayer that is included in Class 54 of Schedule II to the Income Tax Regulations; (voiture de tourisme zéro émission)

      zero-emission vehicle

      zero-emission vehicle , of a taxpayer, means a motor vehicle that

      • (a) is a plug-in hybrid that meets prescribed conditions or is fully

        • [...]

        • (ii) powered by hydrogen,

      • [...]

      • (c) is not a vehicle

        • [...]

        • (ii) in respect of which

          • [...]

          • (C) an amount has been deducted under paragraph 20(1)(a) or subsection 20(16) by another person or partnership. (véhicule zéro émission)

    • (1.1) A redemption, an acquisition or a cancellation, at any particular time after 1971 and before December 24, 1998, of a share or of a right to acquire a share (which share or which right, as the case may be, is referred to in this subsection as the “security”) of the capital stock of a corporation (referred to in this subsection as the “issuing corporation”) held by another corporation (referred to in this subsection as the “disposing corporation”) is not a disposition (within the meaning of the definition disposition in section 54 as that section read in its application to transactions and events that occurred at the particular time) of the security if

      • (a) the redemption, acquisition or cancellation occurred as part of a merger or combination of two or more corporations (including the issuing corporation and the disposing corporation) to form one corporate entity (referred to in this subsection as the “new corporation”);

      • (b) the merger or combination

        • (i) is an amalgamation (within the meaning assigned by subsection 87(1) as it read at the particular time) to which subsection 87(11) if in force, and as it read, at the particular time did not apply,

        • (ii) is an amalgamation (within the meaning assigned by subsection 87(1) as it read at the particular time) to which subsection 87(11) if in force, and as it read, at the particular time applies, if the issuing corporation and the disposing corporation are described by subsection 87(11) (if in force, and as it read, at the particular time) as the parent and the subsidiary, respectively,

        • [...]

        • (iv) occurred after November 12, 1981 and

          • [...]

          • (B) all of the following conditions are met:

            • [...]

            • (II) subsection 87(8.1), as it read in respect of the merger or combination, contained a subparagraph (c)(ii), and

            • (III) the merger or combination would be a foreign merger (within the meaning of subsection 87(8.1), as it read in respect of the merger or combination) if that subparagraph 87(8.1)(c)(ii) were read as follows:

              • “(ii) if, immediately after the merger, the new foreign corporation was controlled by another foreign corporation (in this subsection referred to as the “parent corporation”), shares of the capital stock of the parent corporation,”;

        [...]

      • (c) either

        • [...]

        • (ii) in the case where the merger or combination is described by subparagraph (b)(iv), the disposing corporation received no consideration for the security other than property that was, immediately before the merger or combination, owned by the issuing corporation and that, on the merger or combination, became property of the new corporation.

    • Marginal note:Tax payable

      (2) In this Act, the tax payable by a taxpayer under any Part of this Act by or under which provision is made for the assessment of tax means the tax payable by the taxpayer as fixed by assessment or reassessment subject to variation on objection or on appeal, if any, in accordance with the provisions of that Part.

    • (3) For the purposes of this Act, if property is subject to an institution or arrangement that is described by this subsection and that is governed by the laws of the Province of Quebec, the following rules apply in respect of the property:

      • (a) if at any time property is subject to a usufruct, right of use or habitation, or substitution,

        • [...]

        • (ii) the property is deemed

          [...]

      • (b) an arrangement (other than a partnership, a qualifying arrangement or an arrangement that is a trust determined without reference to this paragraph) is deemed to be a trust and property subject to rights and obligations under the arrangement is, if the arrangement is deemed by this paragraph to be a trust, deemed to be held in trust and not otherwise, where the arrangement

        • [...]

        • (ii) creates rights and obligations that are substantially similar to the rights and obligations under a trust (determined without reference to this subsection);

      • (c) if the arrangement is a qualifying arrangement,

        • [...]

        • (ii) any property contributed at any time to the arrangement by an annuitant, a holder or a subscriber of the arrangement, as the case may be, is deemed to have been transferred, at that time, to the trust by the contributor, and

      • (d) a person who has a right (whether immediate or future and whether absolute or contingent) to receive all or part of the income or capital in respect of property that is referred to in paragraph (a) or (b) is deemed to be beneficially interested in the trust; and

      • (e) notwithstanding that a property is at any time subject to a servitude, the property is deemed to be beneficially owned by a person at that time if, at that time, the person has in relation to the property

        • [...]

        • (ii) a right as a lessee under an emphyteusis, or

    • [...]

    • Marginal note:Substituted property

      (5) For the purposes of this Act, other than paragraph 98(1)(a),

      [...]

    • [...]

    • (7) For the purposes of this Act,

      • [...]

      • (b) the remittance or payment of an amount

        • [...]

        • (ii) payable by a corporation,

        [...]

    • [...]

    • Marginal note:Compound interest

      (11) Interest computed at a prescribed rate under any of subsections 129(2.1) and (2.2), 131(3.1) and (3.2), 132(2.1) and (2.2), 133(7.01) and (7.02), 159(7), 160.1(1), 161(1), (2) and (11), 161.1(5), 164(3) to (4), 181.8(1) and (2) (as those two subsections read in their application to the 1991 and earlier taxation years), 185(2), 187(2) and 189(7), section 190.23 (as it read in its application to the 1991 and earlier taxation years) and subsections 193(3), 195(3), 202(5) and 227(8.3), (9.2) and (9.3) of this Act and subsection 182(2) of the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952 (as that subsection read in its application to taxation years beginning before 1986) and subsection 191(2) of that Act (as that subsection read in its application to the 1984 and earlier taxation years) shall be compounded daily and, where interest is computed on an amount under any of those provisions and is unpaid or unapplied on the day it would, but for this subsection, have ceased to be computed under that provision, interest at the prescribed rate shall be computed and compounded daily on the unpaid or unapplied interest from that day to the day it is paid or applied and shall be paid or applied as would be the case if interest had continued to be computed under that provision after that day.

    • [...]

    • Marginal note:Interests in trusts and partnerships

      (13) Where after November 12, 1981 a person has an interest in a trust or partnership, whether directly or indirectly through an interest in any other trust or partnership or in any manner whatever, the person shall, for the purposes of the definitions income bond, income debenture and term preferred share in subsection 248(1), paragraph (h) of the definition taxable preferred share in that subsection, subsections 84(4.2) and 84(4.3) and 112(2.6) and section 258, be deemed to be a beneficiary of the trust or a member of the partnership, as the case may be.

    • Marginal note:Related corporations

      (14) For the purpose of paragraph (g) of the definition specified financial institution in subsection 248(1), where in the case of 2 or more corporations it can reasonably be considered, having regard to all the circumstances, that one of the main reasons for the separate existence of those corporations in a taxation year is to limit or avoid the application of subsection 112(2.1) or 112(2.2) or 138(6), the 2 or more corporations shall be deemed to be related to each other and to each other corporation to which any such corporation is related.

    • [...]

    • (16) For the purposes of this Act, other than this subsection and subsection 6(8), an amount claimed by a taxpayer as an input tax credit or rebate with respect to the goods and services tax in respect of a property or service is deemed to be assistance from a government in respect of the property or service that is received by the taxpayer

      • (a) where the amount was claimed by the taxpayer as an input tax credit in a return under Part IX of the Excise Tax Act for a reporting period under that Act,

        • (i) at the particular time that is the earlier of the time that the goods and services tax in respect of the input tax credit was paid and the time that it became payable,

          • [...]

          • (B) if,

            • (I) the taxpayer’s threshold amount, determined in accordance with subsection 249(1) of the Excise Tax Act, is greater than $500,000 for the taxpayer’s fiscal year (within the meaning assigned by that Act) that includes the particular time, and

            • (II) the taxpayer claimed the input tax credit at least 120 days before the end of the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer in respect of the taxation year that includes the particular time,

        • (ii) at the end of the reporting period, if

          • [...]

          • (B) the taxpayer’s threshold amount, determined in accordance with subsection 249(1) of the Excise Tax Act, is $500,000 or less for the fiscal year (within the meaning assigned by that Act) of the taxpayer that includes the particular time, and

    • (16.1) For the purpose of this Act, other than this subsection and subsection 6(8), an amount claimed by a taxpayer as an input tax refund or a rebate with respect to the Quebec sales tax in respect of a property or service is deemed to be assistance from a government in respect of the property or service that is received by the taxpayer

      • (a) where the amount was claimed by the taxpayer as an input tax refund in a return under An Act respecting the Québec sales tax, R.S.Q., c. T-0.1, for a reporting period under that Act,

        • (i) at the particular time that is the earlier of the time that the Quebec sales tax in respect of the input tax refund was paid and the time that it became payable,

          • [...]

          • (B) if,

            • [...]

            • (II) the taxpayer claimed the input tax refund at least 120 days before the end of the normal reassessment period, as determined under subsection 152(3.1), for the taxpayer in respect of the taxation year that includes the particular time,

        • (ii) at the end of the reporting period, if

          [...]

    • Marginal note:Application of subsection (16) to certain vehicles and aircraft

      (17) If the input tax credit of a taxpayer under Part IX of the Excise Tax Act in respect of a passenger vehicle, zero-emission passenger vehicle or aircraft is determined with reference to subsection 202(4) of that Act, subparagraphs (16)(a)(i) to (iii) are to be read as they apply in respect of the vehicle or aircraft, as the case may be, as follows:

      • [...]

      • (ii) if no such tax was considered for the purposes of determining the input tax credit to have become payable in the reporting period, at the end of the reporting period; or

    • (17.1) If the input tax refund of a taxpayer under An Act respecting the Québec sales tax, R.S.Q., c. T-0.1, in respect of a passenger vehicle, zero-emission passenger vehicle or aircraft is determined with reference to section 252 of that Act, subparagraphs (16.1)(a)(i) to (iii) are to be read as they apply in respect of the vehicle or aircraft, as the case may be, as follows:

      • [...]

      • (ii) if no such tax was considered for the purposes of determining the input tax refund to have become payable in the reporting period, at the end of the reporting period; or

    • Marginal note:Input tax credit on assessment

      (17.2) An amount in respect of an input tax credit that is deemed by subsection 296(5) of the Excise Tax Act to have been claimed in a return or application filed under Part IX of that Act is deemed to have been so claimed for the reporting period under that Act that includes the time when the Minister makes the assessment referred to in that subsection.

    • [...]

    • Marginal note:Goods and services tax — repayment of input tax credit

      (18) For the purposes of this Act, where an amount is added at a particular time in determining the net tax of a taxpayer under Part IX of the Excise Tax Act in respect of an input tax credit relating to property or a service that had been previously deducted in determining the net tax of the taxpayer, that amount shall be deemed to be assistance repaid at the particular time in respect of the property or service pursuant to a legal obligation to repay all or part of that assistance.

    • Marginal note:Repayment of Quebec input tax refund

      (18.1) For the purposes of this Act, if an amount is added at a particular time in determining the net tax of a taxpayer under An Act respecting the Québec sales tax, R.S.Q., c. T-0.1, in respect of an input tax refund relating to property or service that had been previously deducted in determining the net tax of the taxpayer, that amount is deemed to be assistance repaid at the particular time in respect of the property or service under a legal obligation to repay all or part of that assistance.

    • [...]

    • (25) For the purposes of this Act,

      • [...]

      • (b) except for the purpose of this paragraph, a particular person or partnership is deemed to be beneficially interested in a particular trust at a particular time where

        • [...]

        • (ii) because of the terms or conditions of the particular trust or any arrangement in respect of the particular trust at the particular time, the particular person or partnership might, because of the exercise of any discretion by any person or partnership, become beneficially interested in the particular trust at the particular time or at a later time, and

        • (iii) at or before the particular time, either

          • (A) the particular trust has acquired property, directly or indirectly in any manner whatever, from

            • [...]

            • (II) another person with whom the particular person or partnership, or a member of the particular partnership, does not deal at arm’s length,

            • (III) a person or partnership with whom the other person referred to in subclause 248(25)(b)(iii)(A)(II) does not deal at arm’s length,

    • Marginal note:Trust-to-trust transfers

      (25.1) If, at any time, a particular trust transfers property to another trust (other than a trust governed by a registered retirement savings plan or by a registered retirement income fund) in circumstances to which paragraph (f) of the definition disposition in subsection (1) applies, without affecting the personal liabilities under this Act of the trustees of either trust or the application of subsection 104(5.8),

      • [...]

      • (b) for greater certainty, if, as a result of a transaction or event, the property was deemed to be taxable Canadian property of the particular trust by any of paragraphs 51(1)(f), 85(1)(i) and 85.1(1)(a), subsection 85.1(5), paragraph 85.1(8)(b), subsections 87(4) and (5) and paragraphs 97(2)(c) and 107(3.1)(d), the property is also deemed to be, at any time that is within 60 months after the transaction or event, taxable Canadian property of the other trust.

    • Marginal note:Trusts to ensure obligations fulfilled

      (25.2) Except for the purpose of this subsection, where at any time property is transferred to a trust in circumstances to which paragraph (k) of the definition disposition in subsection (1) applies, the trust is deemed to deal with the property as agent for the transferor throughout the period that begins at the time of the transfer and ends at the time of the first change after that time in the beneficial ownership of the property.

    • (25.3) The cost to a taxpayer of a particular unit of a trust is deemed to be equal to the amount described in paragraph (a) where

      • [...]

      • (c) either

        • [...]

        • (ii) the particular unit is not capital property and subparagraph 53(2)(h)(i.1) does not apply in respect of the amount described in paragraph (a) but would so apply if that subparagraph were read without reference to clauses 53(2)(h)(i.1)(A) and (B).

    • (25.4) If at a particular time a taxpayer’s capital interest in a trust includes a right to enforce payment of an amount by the trust, the amount shall be added at the particular time to the cost otherwise determined to the taxpayer of the capital interest where

      • [...]

      • (c) if the right to enforce payment of the amount had been satisfied by a payment to the taxpayer by the trust, there would have been no disposition of that right for the purposes of this Act because of the application of paragraph (i) of the definition disposition in subsection (1).

    • [...]

    • Marginal note:Parts of debt obligations

      (27) For greater certainty,

      • (a) unless the context requires otherwise, an obligation issued by a debtor includes any part of a larger obligation that was issued by the debtor;

      • (b) the principal amount of that part shall be considered to be the portion of the principal amount of that larger obligation that relates to that part; and

      • (c) the amount for which that part was issued shall be considered to be the portion of the amount for which that larger obligation was issued that relates to that part.

    • (28) Unless a contrary intention is evident, no provision of this Act shall be read or construed

      • [...]

      • (b) to permit the deduction, either directly or indirectly, in computing a taxpayer’s tax payable under any Part of this Act for a taxation year of any amount to the extent that the amount has already been directly or indirectly deducted in computing such tax payable for the year or any preceding taxation year; or

      • (c) to consider an amount to have been paid on account of a taxpayer’s tax payable under any Part of this Act for a taxation year to the extent that the amount has already been considered to have been paid on account of such tax payable for the year or any preceding taxation year.

    • [...]

    • (32) The amount of the advantage in respect of a gift or monetary contribution by a taxpayer is the total of

      • (a) the total of all amounts, other than an amount referred to in paragraph (b), each of which is the value, at the time the gift or monetary contribution is made, of any property, service, compensation, use or other benefit that the taxpayer, or a person or partnership who does not deal at arm’s length with the taxpayer, has received, obtained or enjoyed, or is entitled, either immediately or in the future and either absolutely or contingently, to receive, obtain, or enjoy

        • [...]

        • (ii) that is in gratitude for the gift or monetary contribution, or

    • [...]

    • (34) If at any time in a taxation year a taxpayer has paid an amount (in this subsection referred to as the “repaid amount”) on account of the principal amount of an indebtedness which was, before that time, an unpaid principal amount that was a limited-recourse debt referred to in subsection 143.2(6.1) (in this subsection referred to as the “former limited-recourse debt”) in respect of a gift or monetary contribution (in this subsection referred to as the “original gift” or “original monetary contribution”, respectively, as the case may be) of the taxpayer (otherwise than by way of an assignment or transfer of a guarantee, security or similar indemnity or covenant, or by way of a payment in respect of which any taxpayer referred to in subsection 143.2(6.1) has incurred an indebtedness that would be a limited-recourse debt referred to in that subsection if that indebtedness were in respect of a gift or monetary contribution made at the time that that indebtedness was incurred), the following rules apply:

      • (a) if the former limited-recourse debt is in respect of the original gift, for the purposes of sections 110.1 and 118.1, the taxpayer is deemed to have made in the taxation year a gift to a qualified donee, the eligible amount of which deemed gift is the amount, if any, by which

        [...]

        • (ii) the total of

          [...]

      • (b) if the former limited-recourse debt is in respect of the original monetary contribution, for the purposes of subsection 127(3), the taxpayer is deemed to have made in the taxation year a monetary contribution referred to in that subsection, the eligible amount of which is the amount, if any, by which

        [...]

        • (ii) the total of

          [...]

    • Marginal note:Deemed fair market value

      (35) For the purposes of subsection (31), paragraph 69(1)(b) and subsections 110.1(2.1) and (3) and 118.1(5.4), (6) and (13.2), the fair market value of a property that is the subject of a gift made by a taxpayer to a qualified donee is deemed to be the lesser of the fair market value of the property otherwise determined and the cost or, in the case of capital property, the adjusted cost base or, in the case of a life insurance policy in respect of which the taxpayer is a policyholder, the adjusted cost basis (as defined in subsection 148(9)), of the property to the taxpayer immediately before the gift is made if

      • (a) the taxpayer acquired the property under a gifting arrangement that is a tax shelter as defined in subsection 237.1(1); or

      • (b) except where the gift is made as a consequence of the taxpayer’s death,

        • [...]

        • (ii) the taxpayer acquired the property less than 10 years before the day that the gift is made and it is reasonable to conclude that, at the time the taxpayer acquired the property, one of the main reasons for the acquisition was to make a gift of the property to a qualified donee.

    • Marginal note:Non-arm’s length transaction

      (36) If a taxpayer acquired a property, otherwise than by reason of the death of an individual, that is the subject of a gift to which subsection (35) applies because of subparagraph (35)(b)(i) or (ii) and the property was, at any time within the 3-year or 10-year period, respectively, that ends when the gift was made, acquired by a person or partnership with whom the taxpayer does not deal at arm’s length, for the purpose of applying subsection (35) to the taxpayer, the cost, or in the case of capital property, the adjusted cost base, of the property to the taxpayer immediately before the gift is made is deemed to be equal to the lowest amount that is the cost, or in the case of capital property, the adjusted cost base, to the taxpayer or any of those persons or partnerships immediately before the property was disposed of by that person or partnership.

    • (37) Subsection (35) does not apply to a gift

      • [...]

      • (c) of an object referred to in subparagraph 39(1)(a)(i.1), other than an object acquired under a gifting arrangement (as defined in subsection 237.1(1)) that is a tax shelter;

      • [...]

      • (e) of a share of the capital stock of a corporation if

        • [...]

        • (ii) immediately before the gift, the corporation was controlled by the donor, a person related to the donor or a group of persons each of whom is related to the donor, and

      • (f) by a corporation of property if

        • (i) the property was acquired by the corporation in circumstances to which subsection 85(1) or (2) applied,

        • (ii) immediately before the gift, the shareholder from whom the corporation acquired the property controlled the corporation or was related to a person or each member of a group of persons that controlled the corporation, and

      • (g) of a property that was acquired in circumstances where subsection 70(6) or (9) or 73(1), (3) or (4) applied, unless subsection (36) would have applied if this subsection were read without reference to this paragraph.

    • [...]

    • Marginal note:Substantive gift

      (39) If a taxpayer disposes of a property (in this subsection referred to as the substantive gift) that is a capital property of the taxpayer, to a recipient that is a registered party, a registered association or a candidate, as those terms are defined in the Canada Elections Act, or that is a qualified donee, subsection (35) would have applied in respect of the substantive gift if it had been the subject of a gift by the taxpayer to a qualified donee, and all or a part of the proceeds of disposition of the substantive gift are (or are substituted, directly or indirectly in any manner whatever, for) property that is the subject of a gift or monetary contribution by the taxpayer to the recipient or any person dealing not at arm’s length with the recipient, the following rules apply:

      [...]

    • [...]

    • Marginal note:Synthetic equity arrangements — disaggregation

      (42) For the purposes of the definition synthetic equity arrangement in subsection (1), paragraphs (c) and (d) of the definition dividend rental arrangement in subsection (1) and subsections 112(2.31), (2.32) and (10), an arrangement that reflects the fair market value of more than one type of identical share (as defined in subsection 112(10)) is considered to be a separate arrangement with respect to each type of identical share the value of which the arrangement reflects.

    R.S., 1985, c. 1 (5th Supp.), s. 248; 1994, c. 7, Sch. II, s. 192, Sch. V, s. 90, Sch. VIII, ss. 139, c. 8, s. 32, c. 21, ss. 109, 138, c. 41, s. 37; 1995, c. 3, s. 52, c. 21, ss. 43, 47, 59, 65, 74; 1996, c. 21, s. 60; 1997, c. 25, s. 71; 1998, c. 19, ss. 66, 239; 1999, c. 22, s. 80; 2000, c. 12, ss. 139, 142, c. 19, s. 67; 2001, c. 17, ss. 188, 230; 2002, c. 9, s. 44; 2003, c. 15, s. 88, c. 28, s. 18; 2005, c. 30, s. 17; 2007, c. 2, s. 52, c. 29, s. 28, c. 35, ss. 65, 68, 123; 2008, c. 28, s. 34; 2009, c. 2, s. 76; 2010, c. 12, ss. 22, 2109, c. 25, s. 69; 2011, c. 24, s. 72; 2012, c. 31, s. 55; 2013, c. 34, ss. 167, 358, c. 40, s. 89; 2014, c. 13, s. 115, c. 20, s. 30, c. 39, s. 71; 2016, c. 7, s. 48, c. 11, s. 10, c. 12, s. 63; 2017, c. 33, s. 77; 2018, c. 12, s. 37; 2019, c. 29, s. 43.

  5. Income Tax Act - R.S.C., 1985, c. 1 (5th Supp.) (Section 146.3)
    Marginal note:Definitions
    •  (1) In this section,

      annuitant

      annuitant  under a retirement income fund at any time means

      • [...]

      • (b) after the death of the first individual, a spouse or common-law partner (in this definition referred to as the “survivor”) of the first individual to whom the carrier has undertaken to make payments described in the definition retirement income fund out of or under the fund after the death of the first individual, if the survivor is alive at that time and the undertaking was made

        • [...]

        • (ii) with the consent of the legal representative of the first individual, and

      designated benefit

      designated benefit  of an individual in respect of a registered retirement income fund means the total of

      • (a) such amounts paid out of or under the fund after the death of the last annuitant thereunder to the legal representative of that annuitant

        • (i) as would, had they been paid under the fund to the individual, have been refunds of premiums (in this paragraph having the meaning assigned by subsection 146(1)) if the fund were a registered retirement savings plan that had not matured before the death, and

        • (ii) as are designated jointly by the legal representative and the individual in prescribed form filed with the Minister, and

      minimum amount

      minimum amount  under a retirement income fund for a year means, for the year in which the fund was entered into, a nil amount, and, for any other year, the amount determined by the formula

      (A × B) + C

      where

      B 
      is
      • (a) where the first annuitant under the fund elected in respect of the fund under paragraph (b) of the definition minimum amount in this subsection, as it read before 1992, or under subparagraph 146.3(1)(f)(i) of the Income Tax Act, chapter 148 of the Revised Statutes of Canada, 1952, to use the age of another individual, the prescribed factor for the year in respect of the other individual,

      qualified investment

      qualified investment  for a trust governed by a registered retirement income fund means

      • [...]

      • (b.1) a contract for an annuity issued by a licensed annuities provider where

        • [...]

        • (ii) the holder of the contract has a right to surrender the contract at any time for an amount that would, if reasonable sales and administration charges were ignored, approximate the value of funds that could otherwise be applied to fund future periodic payments under the contract,

      • (b.2) a contract for an annuity issued by a licensed annuities provider where

        • [...]

        • (ii) the trust is the only person who, disregarding any subsequent transfer of the contract by the trust, is or may become entitled to any annuity payments under the contract,

        • [...]

        • (v) either

          • (A) the periodic payments are payable for the life of the RRIF annuitant or the joint lives of the RRIF annuitant and the RRIF annuitant’s spouse or common-law partner and either there is no guaranteed period under the contract or there is a guaranteed period that begins at the start date and does not exceed a term equal to 90 years minus the lesser of

            • [...]

            • (II) the age in whole years at the start date of a spouse or common-law partner of the RRIF annuitant (determined on the assumption that a spouse or common-law partner of the RRIF annuitant at the time the contract was acquired is a spouse or common-law partner of the RRIF annuitant at the start date), or

          • (B) the periodic payments are payable for a term equal to

            • [...]

            • (II) 90 years minus the age described in subclause (II), and

    • [...]

    • (1.2) Subsection (1.1) does not apply to a retirement income fund

      • (a) for the purposes of subsections (5.1) and 153(1) and the definition periodic pension payment in section 5 of the Income Tax Conventions Interpretation Act; nor

      • (b) if the individual who was the annuitant under the fund on January 1, 2008 attained 70 years of age in 2007.

    • Marginal note:Exceptions

      (1.3) For the purposes of subsections (5.1) and 153(1) and the definition periodic pension payment in section 5 of the Income Tax Conventions Interpretation Act, the minimum amount under a retirement income fund for 2015 is the amount that would be the minimum amount under the fund for the year if it were determined using the prescribed factors under subsection 7308(3) or (4), as the case may be, of the Income Tax Regulations as they read on December 31, 2014.

    • [...]

    • Marginal note:Exceptions

      (1.5) Subsection (1.4) does not apply to a retirement income fund for the purposes of subsections (5.1) and 153(1) and the definition periodic pension payment in section 5 of the Income Tax Conventions Interpretation Act.

    • (2) The Minister shall not accept for registration for the purposes of this Act any retirement income fund of an individual unless, in the Minister’s opinion, the following conditions are complied with:

      • (a) the fund provides that the carrier shall make only those payments described in any of paragraphs (d) and (e), the definition retirement income fund in subsection (1), and subsections (14) and (14.1);

      • (b) the fund provides that payments thereunder may not be assigned in whole or in part;

      • (c) if the carrier is a person referred to as a depositary in section 146, the fund provides that

        • [...]

        • (ii) the property held in connection with the fund cannot be pledged, assigned or in any way alienated as security for a loan or for any purpose other than that of the making by the carrier to the annuitant those payments described in paragraph 146.3(2)(a);

      • [...]

      • (e) the fund provides that, at the direction of the annuitant, the carrier shall transfer all or part of the property held in connection with the fund, or an amount equal to its value at the time of the direction (other than property required to be retained in accordance with the provision described in paragraph 146.3(2)(e.1) or 146.3(2)(e.2)), together with all information necessary for the continuance of the fund, to a person who has agreed to be a carrier of another registered retirement income fund of the annuitant;

      • (e.1) where the fund does not govern a trust or the fund governs a trust created before 1998 that does not hold an annuity contract as a qualified investment for the trust, the fund provides that if an annuitant, at any time, directs that the carrier transfer all or part of the property held in connection with the fund, or an amount equal to its value at that time, to a person who has agreed to be a carrier of another registered retirement income fund of the annuitant or to a registered pension plan in accordance with subsection (14.1), the transferor shall retain an amount equal to the lesser of

        • [...]

        • (ii) the fair market value of all the property;

      • (e.2) where paragraph (e.1) does not apply, the fund provides that if an annuitant, at any time, directs that the carrier transfer all or part of the property held in connection with the fund, or an amount equal to its value at that time, to a person who has agreed to be a carrier of another registered retirement income fund of the annuitant or to a registered pension plan in accordance with subsection (14.1), the transferor shall retain property in the fund sufficient to ensure that the total of

        • (i) all amounts each of which is the fair market value, immediately after the transfer, of a property held in connection with the fund that is

          • [...]

          • (B) an annuity contract described, immediately after the transfer, in paragraph (b.1) of the definition qualified investment in subsection 146.3(1), and

        • (ii) all amounts each of which is a reasonable estimate, as of the time of the transfer, of the amount of an annual or more frequent periodic payment under an annuity contract (other than an annuity contract described in clause 146.3(2)(e.2)(i)(B)) that the trust may receive after the transfer and in the year of the transfer

        [...]

      • (f) the fund provides that the carrier shall not accept property as consideration thereunder other than property transferred from

        • [...]

        • (ii) another registered retirement income fund under which the individual is the annuitant,

        • [...]

        • (v) a registered pension plan of which the individual is a member (within the meaning assigned by subsection 147.1(1)),

    • Marginal note:No tax while trust governed by fund

      (3) Except as provided in subsection 146.3(9), no tax is payable under this Part by a trust on the taxable income of the trust for a taxation year if, throughout the period in the year during which the trust was in existence, the trust was governed by a registered retirement income fund of an individual, except that if the trust has

      • [...]

      • (b) received a gift of property (other than a transfer from a registered retirement savings plan under which the individual is the annuitant (within the meaning of subsection 146(1)) or a transfer from a registered retirement income fund under which the individual is the annuitant)

        • [...]

        • (ii) in a preceding year and has not divested itself of the property or any property substituted therefor before the commencement of the year, or

      tax is payable under this Part by the trust,

      • [...]

      • (e) where neither paragraph 146.3(3)(a) nor (b) applies and where paragraph 146.3(3)(c) applies, on the amount, if any, by which

        [...]

        • (ii) such portion of the amount determined under subparagraph 146.3(3)(e)(i) in respect of the trust for the year as can reasonably be considered to be income from, or from the disposition of, qualified investments for the trust.

    • Marginal note:Exception

      (3.1) Notwithstanding subsection 146.3(3), if the last annuitant under a registered retirement income fund has died, tax is payable under this Part by the trust governed by the fund on its taxable income for each year after the year following the year in which the last annuitant under the fund died.

    • [...]

    • (5) There shall be included in computing the income of a taxpayer for a taxation year all amounts received by the taxpayer in the year out of or under a registered retirement income fund other than the portion thereof that can reasonably be regarded as

      • (a) part of the amount included in computing the income of another taxpayer by virtue of subsections 146.3(6) and 146.3(6.2);

      • [...]

      • (c) an amount that relates to interest, or to another amount included in computing income otherwise than because of this section, and that would, if the fund were a registered retirement savings plan, be a tax-paid amount (within the meaning assigned by paragraph (b) of the definition tax-paid amount in subsection 146(1)); or

      • (d) an amount in respect of which the annuitant pays a tax under Part XI.01, unless the tax is waived, cancelled or refunded.

    • Marginal note:Amount included in income

      (5.1) If at any time in a taxation year a particular amount in respect of a registered retirement income fund that is a spousal or common-law partner plan (within the meaning assigned by subsection 146(1)) in relation to a taxpayer is required to be included in the income of the taxpayer’s spouse or common-law partner and the taxpayer is not living separate and apart from the taxpayer’s spouse or common-law partner at that time by reason of the breakdown of their marriage or common-law partnership, there shall be included at that time in computing the taxpayer’s income for the year an amount equal to the least of

      • (a) the total of all amounts each of which is a premium (within the meaning assigned by subsection 146(1)) paid by the taxpayer in the year or in one of the two immediately preceding taxation years to a registered retirement savings plan under which the taxpayer’s spouse or common-law partner was the annuitant (within the meaning assigned by subsection 146(1)) at the time the premium was paid,

      • [...]

      • (c) the amount, if any, by which

        [...]

        • (ii) the minimum amount under the fund for the year.

    • Marginal note:Ordering

      (5.3) Where a taxpayer has paid more than one premium described in subsection 146.3(5.1), such a premium or part thereof paid by the taxpayer at any time shall be deemed to have been included in computing the taxpayer’s income by virtue of that subsection before premiums or parts thereof paid by the taxpayer after that time.

    • Marginal note:Spouse’s income

      (5.4) Where, in respect of an amount required at any time in a taxation year to be included in computing the income of a taxpayer’s spouse, all or part of a premium has, by reason of subsection 146.3(5.1), been included in computing the taxpayer’s income for the year, the following rules apply:

      • (a) the premium or part thereof, as the case may be, shall, for the purposes of subsections 146.3(5.1) and 146(8.3) after that time, be deemed not to have been a premium paid to a registered retirement savings plan under which the taxpayer’s spouse was the annuitant (within the meaning assigned by subsection 146(1)); and

      • (b) an amount equal to the premium or part thereof, as the case may be, may be deducted in computing the income of the spouse for the year.

    • (5.5) Subsection 146.3(5.1) does not apply

      • [...]

      • (c) to any payment that is received in full or partial commutation of a registered retirement savings plan or a registered retirement income fund and in respect of which a deduction was made under paragraph 60(l) if, where the deduction was in respect of the acquisition of an annuity, the terms of the annuity provide that it cannot be commuted, and it is not commuted, in whole or in part within 3 years after the acquisition; or

    • [...]

    • (6.1) A designated benefit of an individual in respect of a registered retirement income fund that is received by the legal representative of the last annuitant under the fund shall be deemed

      • [...]

      • (b) except for the purpose of the definition designated benefit in subsection 146.3(1), not to be received out of or under the fund by any other person.

    • [...]

    • (6.2) There may be deducted from the amount deemed by subsection 146.3(6) to be received by an annuitant out of or under a registered retirement income fund an amount not exceeding the amount determined by the formula

      A × [1 - ((B + C - D) / (B + C))]

      where

      A 
      is the total of
      • [...]

      • (b) all amounts that would, if the fund were a registered retirement savings plan, be tax-paid amounts (in this subsection having the meaning assigned by subsection 146(1)) in respect of the fund received by individuals who received, otherwise than because of subsection 146.3(6.1), designated benefits in respect of the fund, and

      • (c) all amounts each of which is an amount that would, if the fund were a registered retirement savings plan, be a tax-paid amount in respect of the fund received by the legal representative of the last annuitant under the fund, to the extent that the legal representative would have been entitled to designate that tax-paid amount under paragraph (a) of the definition designated benefit in subsection 146.3(1) if tax-paid amounts were not excluded in determining refunds of premiums (as defined in subsection 146(1));

    • (6.3) If the last annuitant under a registered retirement income fund dies, there may be deducted in computing the annuitant’s income for the taxation year in which the annuitant dies an amount not exceeding the amount determined, after all amounts payable out of or under the fund have been paid, by the formula

      A – B

      where

      A 
      is the total of all amounts each of which is
      • [...]

      • (c) an amount that would, if the fund were a registered retirement savings plan, be a tax-paid amount (within the meaning assigned by subsection 146(1)) in respect of the fund; and

    • [...]

    • (9) If a trust that is governed by a registered retirement income fund holds, at any time in a taxation year, a property that is not a qualified investment,

      • (a) tax is payable under this Part by the trust on the amount that its taxable income for the year would be if it had no incomes or losses from sources other than the property that is not a qualified investment or no capital gains or capital losses other than from the disposition of that property, as the case may be; and

      • (b) for the purposes of paragraph 146.3(9)(a),

        • [...]

        • (ii) paragraphs 38(a) and (b) are to be read as if the fraction set out in each of those paragraphs were replaced by the word “all”.

    • [...]

    • Marginal note:Idem

      (12) For the purposes of subsection 146.3(11), an arrangement under which a right or obligation under a retirement income fund is released or extinguished either wholly or in part and either in exchange or substitution for any right or obligation, or otherwise (other than an arrangement the sole object and legal effect of which is to revise or amend the fund) or under which payment of any amount by way of loan or otherwise is made on the security of a right under a retirement income fund, shall be deemed to be a new fund substituted for the retirement income fund.

    • [...]

    • (14) An amount is transferred from a registered retirement income fund of an annuitant in accordance with this subsection if the amount

      • [...]

      • (b) is transferred directly to

        • [...]

        • (ii) a registered retirement savings plan under which the individual is the annuitant (within the meaning assigned by subsection 146(1)).

    • (14.1) An amount is transferred from a registered retirement income fund of an annuitant in accordance with this subsection if the amount

      • [...]

      • (b) is transferred at the direction of the annuitant directly to a registered pension plan of which, at any time before the transfer, the annuitant was a member (within the meaning assigned by subsection 147.1(1)) or to a prescribed registered pension plan and is allocated to the annuitant under a money purchase provision (within the meaning assigned by subsection 147.1(1)) of the plan.

    • [...]

    • (15) Where

      • (a) an amount is credited or added to a deposit with a depositary referred to in paragraph (d) of the definition carrier in subsection 146.3(1) as interest or income in respect of the deposit,

      [...]

    R.S., 1985, c. 1 (5th Supp.), s. 146.3; 1994, c. 7, Sch. II, s. 119, Sch. VIII, s. 84, c. 21, s. 71; 1998, c. 19, s. 171; 2000, c. 12, ss. 136, 142; 2001, c. 17, s. 141; 2003, c. 15, s. 83; 2007, c. 29, s. 19; 2009, c. 2, s. 54; 2011, c. 24, s. 49; 2012, c. 31, s. 34; 2013, c. 34, s. 300; 2015, c. 36, s. 15; 2020, c. 5, s. 4.


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