Income Tax Act — I-3.3 147.5
 or an interest (or, for civil law, a right) in, or a right to acquire, such a share, debt or interest; (f) the value of a member’s right under the plan depends on the value of, or income or capital gains in respect of, property that would be described in paragraph (e) if it were held in connection with the plan; (g) the administrator borrows money or other property for the purposes of the plan; or (h) the plan or the administrator does not comply with a prescribed condition. Non-payment of minimum amount (4) A PRPP becomes a revocable plan at the beginning of a calendar year if the total amount distributed from a member’s account under the PRPP in the calendar year is less than the amount that would be the minimum amount for the calendar year under subsection 8506(5) of the Income Tax Regulations if the member’s account were an account under a money purchase provision of a registered pension plan. Permissible benefits (5) The following benefits may be provided under a pooled pension plan: (a) the payment of benefits to a member that would be in accordance with paragraph 8506(1)(e.1) or (e.2) of the Income Tax Regulations if the benefits were provided under a money purchase provision of a registered pension plan; and (b) the payment of a single amount from the member’s account. Additional conditions (6) The Minister may, at any time, impose reasonable conditions, in writing, applicable with respect to PRPPs, a class of PRPPs or a particular PRPP. Acceptance of amendments (7) The Minister shall not accept an amendment to a PRPP unless (a) application for the acceptance is made in prescribed manner by the administrator of the PRPP; and (b) the amendment and the PRPP as amended comply with the registration conditions specified in subsection (2). Trust not taxable (8) No tax is payable under this Part by a trust governed by a PRPP on its taxable income for a taxation year, except that, if at any time in the year, it carries on a business, tax is payable under this Part by the trust on the amount that would be its taxable income for the year if it had no income or losses from sources other than the business, and for this purpose, (a) all capital gains and capital losses from the disposition of property held in connection with the business are deemed to be income or losses, as the case may be, from the business; and (b) the trust’s income is to be computed without reference to subsections 104(6), (19) and (21). Obligations of administrator (9) The administrator of a PRPP shall exercise the care, diligence and skill of a reasonably prudent trustee to minimize the possibility that the registration of the PRPP may be revoked other than at the request of the administrator. Employer contributions deductible (10) There may be deducted in computing a taxpayer’s income for a taxation year, the total of all amounts each of which is a contribution made by the taxpayer in the year or within 120 days after the end of the year to a PRPP in respect of the taxpayer’s employees or former employees to the extent that the contribution (a) was made in accordance with the PRPP as registered and in respect of periods before the end of the year; and (b) was not deducted in computing the taxpayer’s income for a preceding taxation year. Member contributions (11) For the purposes of paragraphs 60(j), (j.1) and (l), section 146 (other than subsections (8.3) to (8.7)), paragraphs 146.01(3)(a) and 146.02(3)(a) and Parts X.1 and X.5, a contribution made to a PRPP by a member of a PRPP is deemed to be a premium paid by the member to an RRSP under which the member is the annuitant. Member’s account (12) For the purposes of paragraph 18(1)(u), section 60.011, subparagraph (a)(i) of the definition excluded right or interest in subsection 128.1(10), paragraph 146(8.2)(b), subsection 146(8.21), paragraphs 146(16)(a) and (b), subparagraph 146(21)(a)(i), paragraph (b) of the definition excluded premium in subsection 146.01(1), paragraph (c) of the definition excluded p