Income Tax Act — I-3.3 18.3
Definitions 18.3 (1) The following definitions apply in this section. entity has the same meaning as in subsection 122.1(1). ( entité ) equity value has the same meaning as in subsection 122.1(1). ( valeur des capitaux propres ) real estate investment trust has the same meaning as in subsection 122.1(1). ( fiducie de placement immobilier ) security , of an entity, means (a) a liability of the entity; (b) if the entity is a corporation, (i) a share of the capital stock of the corporation, and (ii) a right to control in any manner whatever the voting rights of a share of the capital stock of the corporation if it can reasonably be concluded that one of the reasons that a person or partnership holds the right to control is to avoid the application of subsection (3) or 12.6(3); (c) if the entity is a trust, an income or a capital interest in the trust; and (d) if the entity is a partnership, an interest as a member of the partnership. ( titre ) stapled security , of a particular entity at any time, means a particular security of the particular entity if at that time (a) another security (referred to in this section as the “reference security”) (i) is or may be required to be transferred together or concurrently with the particular security as a term or condition of the particular security, the reference security, or an agreement or arrangement to which the particular entity (or if the reference security is a security of another entity, the other entity) is a party, or (ii) is listed or traded with the particular security on a stock exchange or other public market under a single trading symbol; (b) the particular security or the reference security is listed or traded on a stock exchange or other public market; and (c) any of the following applies: (i) the reference security and the particular security are securities of the particular entity and the particular entity is a corporation, SIFT partnership or SIFT trust, (ii) the reference security is a security of another entity, one of the particular entity or the other entity is a subsidiary of the other, and the particular entity or the other entity is a corporation, SIFT partnership or SIFT trust, or (iii) the reference security is a security of another entity and the particular entity or the other entity is a real estate investment trust or a subsidiary of a real estate investment trust. ( titre agrafé ) subsidiary , of a particular entity at any time, means (a) an entity in which the particular entity holds at that time securities that have a total fair market value greater than 10% of the equity value of the entity; and (b) an entity that at that time is a subsidiary of an entity that is a subsidiary of the particular entity. ( filiale ) transition period , of an entity, means (a) if one or more securities of the entity would have been stapled securities of the entity on October 31, 2006 and July 19, 2011 had the definition stapled security in this subsection come into force on October 31, 2006, the period that begins on July 20, 2011 and ends on the earliest of (i) January 1, 2016, (ii) the first day after July 20, 2011 on which any of those securities is materially altered, and (iii) the first day after July 20, 2011 on which any security of the entity becomes a stapled security other than by way of (A) a transaction (I) that is completed under the terms of an agreement in writing entered into before July 20, 2011 if no party to the agreement may be excused from completing the transaction as a result of amendments to this Act, and (II) that is not the issuance of a security in satisfaction of a right to enforce payment of an amount by the entity, or (B) the issuance of the security in satisfaction of a right to enforce payment of an amount that became payable by the entity on another security of the entity before July 20, 2011, if the other security was a stapled security on July 20, 2011 and the issuance was made under a term or condition of the other security in effect on Jul