Income Tax Act — I-3.3 149
aging, operating or disposing of its Canadian resource properties, (B) made no investments other than in (I) Canadian resource properties, (II) property to be used in connection with Canadian resource properties described in clause 149(1)(o.2)(ii.1)(A), (III) loans secured by Canadian resource properties for the purpose of carrying out any activity described in clause 149(1)(o.2)(ii.1)(A) with respect to Canadian resource properties, or (IV) investments that a pension fund or plan is permitted to make under the Pension Benefits Standards Act, 1985 or a similar law of a province, and (C) borrowed money solely for the purpose of earning income from Canadian resource properties, or (iii) that made no investments other than investments that a pension fund or plan was permitted to make under the Pension Benefits Standards Act, 1985 or a similar law of a province, and (A) the assets of which were at least 98% cash and investments, (B) that had not accepted deposits or issued bonds, notes, debentures or similar obligations, and (C) that had derived at least 98% of its income for the period that is a taxation year of the corporation from, or from the disposition of, investments if, at all times since the later of November 16, 1978 and the date on which it was incorporated, (iv) all of the shares, and rights to acquire shares, of the capital stock of the corporation are owned by (A) one or more registered pension plans, (B) one or more trusts all the beneficiaries of which are registered pension plans, (C) one or more related segregated fund trusts (within the meaning assigned by paragraph 138.1(1)(a)) all the beneficiaries of which are registered pension plans, or (D) one or more prescribed persons, or (v) in the case of a corporation without share capital, all the property of the corporation has been held exclusively for the benefit of one or more registered pension plans, and for the purposes of subparagraph 149(1)(o.2)(iv), where a corporation has been formed as a result of the merger of two or more other corporations, it shall be deemed to be the same corporation as, and a continuation of, each such other corporation and the shares of the merged corporations shall be deemed to have been altered, in form only, by virtue of the merger and to have continued in existence in the form of shares of the corporation formed as a result of the merger; Prescribed small business investment corporations (o.3) a corporation that is prescribed to be a small business investment corporation; Master trusts (o.4) a trust that is prescribed to be a master trust and that elects to be such a trust under this paragraph in its return of income for its first taxation year ending in the period; Pension Benefits Guarantee Fund (o.5) the Pension Benefits Guarantee Fund under the Pension Benefits Act , R.S.O. 1990, c. P.8, and any corporation established solely for investing the assets of the Pension Benefits Guarantee Fund; Trusts under profit sharing plan (p) a trust under an employees profit sharing plan to the extent provided by section 144; Trusts under a registered supplementary unemployment benefit plan (q) a trust under a registered supplementary unemployment benefit plan to the extent provided by section 145; RCA trusts (q.1) an RCA trust (within the meaning assigned by subsection 207.5(1)); Trusts under registered retirement savings plan (r) a trust under a registered retirement savings plan to the extent provided by section 146; Trusts under deferred profit sharing plan (s) a trust under a deferred profit sharing plan to the extent provided by section 147; Trust governed by eligible funeral arrangement (s.1) a trust governed by an eligible funeral arrangement; Cemetery care trust (s.2) a cemetery care trust; (t) [Repealed, 2017, c. 20, s. 24] Registered education savings plans (u) a trust governed by a registered education savings plan to the extent provided by section 146.1; Trusts under registered disability savings plans (u.1) a trust governed by