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Budget and Economic Statement Implementation Act, 2007 (S.C. 2007, c. 35)

Assented to 2007-12-14

  • 68. (1) The Act is amended by replacing “prescribed stock exchange” with “designated stock exchange” in the following provisions:

    • (a) the portion of paragraph 187.3(2)(d) before subparagraph (i); and

    • (b) paragraph (d.1) of the definition “term preferred share” in subsection 248(1).

  • (2) The Act is amended by replacing “prescribed stock exchange” with “designated stock exchange” in the following provisions:

    • (a) subparagraphs 7(9)(d)(i) and (ii);

    • (b) subparagraph 13(27)(f)(i);

    • (c) subparagraph 48.1(1)(a)(ii);

    • (d) subparagraphs 86.1(2)(c)(ii) and (d)(ii);

    • (e) subsection 87(4.3) and paragraphs 87(9)(a.2) and (10)(e);

    • (f) subsection 110.1(6);

    • (g) paragraph 112(2.21)(c);

    • (h) clauses (a)(i)(A) and (B) of the definition “qualified investment” in subsection 115.2(1);

    • (i) paragraph 118.1(18)(a);

    • (j) subparagraphs (a)(i) and (ii) and clauses (c)(ii)(A) and (B) of the definition “split income” in subsection 120.4(1);

    • (k) paragraph (c) of the definition “Canadian-controlled private corporation” in subsection 125(7);

    • (l) subsection 137(4.1);

    • (m) paragraph (b) of the definition “non-qualified investment” in subsection 149.1(1);

    • (n) subsection 207.5(2);

    • (o) paragraph (a) of the definition “Canadian property mutual fund investment” in subsection 218.3(1);

    • (p) paragraph (d) of the definition “grandfathered share” in subsection 248(1); and

    • (q) paragraphs (d) to (f) of the definition “taxable Canadian property” in subsection 248(1).

  • (3) Subsections (1) and (2) apply on and after the day on which this Act is assented to.

Marginal note:R.S., c. 2 (5th Supp.)

Income Tax Application Rules

Marginal note:R.S., c. I-4

Income Tax Conventions Interpretation Act

  • 70. (1) The Income Tax Conventions Interpretation Act is amended by adding the following after section 4.1:

    Marginal note:Stock exchanges

    4.2 Notwithstanding the provisions of a convention or the Act giving the convention the force of law in Canada, each reference in a convention to a stock exchange that is prescribed under, or for the purposes of, the Income Tax Act shall be read as a reference to a designated stock exchange, as defined in the Income Tax Act.

  • (2) Subsection (1) applies on and after the day on which this Act is assented to.