Income Tax Act — I-3.3 248
ter 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 (b) shares of the capital stock of which are at or before the particular time distributed on a SIFT trust wind-up event of the SIFT wind-up entity; ( société de conversion d’EIPD ) 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 (a) a SIFT trust (determined without reference to subsection 122.1(2)), (b) a SIFT partnership (determined without reference to subsection 197(8)), or (c) a real estate investment trust (as defined in subsection 122.1(1)); ( EIPD convertible ) SIFT wind-up entity equity , or equity in a SIFT wind-up entity, means (a) if the SIFT wind-up entity is a trust, a capital interest (determined without reference to subsection (25)) in the trust, and (b) if the SIFT wind-up entity is a partnership, an interest as a member of the partnership where, by operation of any law governing the arrangement in respect of the partnership, the liability of the member as a member of the partnership is limited, 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means the part of the interest represented by such a unit; ( intérêt dans une EIPD convertible ) small business bond [Repealed, 2023, c. 26, s. 73] small business corporation , at any particular time, means, subject to subsection 110.6(15), a particular corporation that is a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 (a) used principally in an active business carried on primarily in Canada by the particular corporation or by a corporation related to it, (b) shares of the capital stock or indebtedness of one or more small business corporations that are at that time connected with the particular corporation (within the meaning of subsection 186(4) on the assumption that the small business corporation is at that time a payer corporation within the meaning of that subsection), or (c) assets described in paragraphs (a) and (b), 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 ) small business development bond [Repealed, 2023, c. 26, s. 73] specified employee of a person means an employee of the person who is a specified shareholder of the person or who does not deal at arm’s length with the person; ( employé déterminé ) specified financial institution , at any time, means (a) a bank, (b) a corporation 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, (c) a credit union, (d) an insurance corporation, (e) a corporation whose principal business is the lending of money to persons with whom the corporation is dealing at arm’s length or the purchasing of debt obligations issued by such persons or a combination thereof, (e.1) a corporation described in paragraph (g) of the definition financial institution in subsection 181(1), (f) a corporation that is controlled by one or more corporations described in any of paragraphs (a) to (e.1) and, for the purpose of this paragraph, 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, or (g) a corporation that is