Excise Tax Act — E-15 157
or (e) a supply made in prescribed circumstances or made by a prescribed person. Joint revocation (4) The persons that have jointly made an election under subsection (2) or (2.1) may jointly revoke the election. Form of election and revocation (5) An election under subsection (2) or (2.1) and a revocation of an election under subsection (4) must (a) be made in prescribed form containing prescribed information; (b) specify the day on which the election or the revocation is to become effective, which must be the first day of a fiscal year of the participating employer; and (c) be filed by the participating employer with the Minister in prescribed manner on or before the day that is the day on which the election or the revocation is to become effective or any later day that the Minister may allow. Cessation (6) An election made jointly under subsection (2) or (2.1) by a person that is a participating employer of a pension plan and by another person that is a pension entity of the pension plan or a master pension entity of the pension plan ceases to have effect on the earliest of (a) the day on which the person ceases to be a participating employer of the pension plan, (b) the day on which the other person ceases to be a pension entity of the pension plan or a master pension entity of the pension plan, as the case may be, (c) the day on which a joint revocation of the election under subsection (4) becomes effective, (d) the day specified in a notice of revocation of the election sent to the person under subsection (9), and (e) in the case of an election under subsection (2.1), the first day of a fiscal year of the other person for which A < 90% where A is the total of all percentages, each of which is a master pension factor in respect of a pension plan of which the person is a participating employer for the fiscal year. Notice of intent (7) If an election made jointly under subsection (2) or (2.1) by a participating employer of a pension plan and by a pension entity of the pension plan or a master pension entity of the pension plan is in effect at any time in a fiscal year of the participating employer and if the participating employer fails to account for, as and when required under this Part, any tax deemed to have been collected by the participating employer on the last day of the fiscal year under any of subsections 172.1(5) to (6.1) in respect of the pension plan, the Minister may send a notice in writing (in this section referred to as a “notice of intent”) to the participating employer and to the pension entity or the master pension entity, as the case may be, that the Minister proposes to revoke the election as of the first day of the fiscal year. Representations to Minister (8) Upon receipt of a notice of intent, a participating employer must establish to the satisfaction of the Minister that the participating employer did not fail to account for, as and when required under this Part, tax deemed to have been collected by the participating employer under any of subsections 172.1(5) to (6.1) in respect of the pension plan. Notice of revocation (9) If, after 60 days after the day on which the notice of intent was sent by the Minister to the participating employer, the Minister is not satisfied that the participating employer did not fail to account for, as and when required under this Part, tax deemed to have been collected by the participating employer on the last day of a particular fiscal year under any of subsections 172.1(5) to (6.1) in respect of the pension plan, the Minister may send a notice in writing (in this section referred to as a “notice of revocation”) to the participating employer and to the pension entity or master pension entity with which the participating employer made the election that the election is revoked as of the day specified in the notice of revocation, and that day is not to be earlier than the day specified in the notice of intent and must be the first day of any particular fiscal year. Revoc