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Income Tax Regulations

Version of section 4802 from 2019-01-01 to 2023-01-11:

  •  (1) For the purposes of clause 149(1)(o.2)(iv)(D) of the Act, the following are prescribed persons:

    • (a) a trust all the beneficiaries of which are trusts described in clause 149(1)(o.2)(iv)(B) of the Act;

    • (b) a corporation incorporated before November 17, 1978 solely in connection with, or for the administration of, a registered pension plan;

    • (c) a trust or corporation established by or arising by virtue of an act of a province the principal activities of which are to administer, manage or invest the monies of a pension fund or plan that is established pursuant to an act of the province or an order or regulation made thereunder;

    • (c.1) the Canada Pension Plan Investment Board;

    • (c.2) the Public Sector Pension Investment Board;

    • (c.3) a pooled registered pension plan;

    • (d) a trust or corporation established by or arising by virtue of an act of a province in connection with a scheme or program for the compensation of workers injured in an accident arising out of or in the course of their employment;

    • (e) Her Majesty in right of a province;

    • (f) a trust all of the beneficiaries of which are any combination of

      • (i) registered pension plans,

      • (ii) trusts described in clause 149(1)(o.2)(iv)(B) or (C) of the Act, and

      • (iii) persons described in this subsection; and

    • (g) a corporation all of the shares of the capital stock of which are owned by one or more of the following:

      • (i) registered pension plans,

      • (ii) trusts described in clause 149(1)(o.2)(iv)(B) or (C) of the Act, and

      • (iii) persons described in this subsection.

  • (1.1) For the purposes of subparagraph 127.55(f)(iii) and paragraph 149(1)(o.4) of the Act, a trust is prescribed at any particular time if, at all times after its creation and before the particular time,

    • (a) it was resident in Canada;

    • (b) its only undertaking was the investing of its funds;

    • (c) it never borrowed money except where the borrowing was for a term not exceeding 90 days and it is established that the borrowing was not part of a series of loans or other transactions and repayments;

    • (d) it never accepted deposits; and

    • (e) each of the beneficiaries of the trust was a trust governed by a deferred profit sharing plan, a pooled registered pension plan or a registered pension plan.

  • (2) [Repealed, 2017, c. 20, s. 33]

  • [NOTE: Application provisions are not included in the consolidated text
  • see relevant amending Acts and regulations.]
  • SOR/85-696, s. 14
  • SOR/87-559, s. 1
  • SOR/92-51, s. 8
  • SOR/92-661, s. 2
  • SOR/94-353, s. 1
  • SOR/94-686, s. 79(F)
  • SOR/96-226, s. 1
  • SOR/2003-328, s. 2
  • SOR/2005-264, s. 5
  • SOR/2011-188, s. 18
  • 2012, c. 31, s. 67
  • 2017, c. 20, s. 33
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