Income Tax Act — I-3.3 220
security at the particular time; (b) the Minister shall notify the trust in writing of the determination and shall accept adequate security, for all or any part of the particular amount, furnished by or on behalf of the trust within 90 days after the notification; and (c) any security accepted in accordance with paragraph (b) is deemed to have been accepted by the Minister under subsection (4.6) on account of the particular amount at the particular time. Extension of time (4.63) Where in the opinion of the Minister it would be just and equitable to do so, the Minister may at any time extend (a) the time for making an election under subsection (4.6); (b) the time for furnishing and accepting security under subsection (4.6); or (c) the 90-day period for the acceptance of the security under paragraph (4.62)(b). Undue hardship (4.7) If, in respect of any period of time, the Minister determines that an individual who has made an election under either subsection (4.5) or (4.6) (a) cannot, without undue hardship, pay or reasonably arrange to have paid on the individual’s behalf, an amount of taxes to which security under that subsection would relate, and (b) cannot, without undue hardship, provide or reasonably arrange to have provided on the individual’s behalf, adequate security under that subsection, the Minister may, in respect of the election, accept for the period security different from, or of lesser value than, that which the Minister would otherwise accept under that subsection. Limit (4.71) In making a determination under subsection (4.7), the Minister shall ignore any transaction that is a disposition, lease, encumbrance, mortgage, hypothec, or other voluntary restriction by a person or partnership of the person’s or partnership’s rights in respect of a property, if the transaction can reasonably be considered to have been entered into for the purpose of influencing the determination. Administration of oaths (5) Any officer or servant employed in connection with the administration or enforcement of this Act, if designated by the Minister for the purpose, may, in the course of that employment, administer oaths and take and receive affidavits, declarations and affirmations for the purposes of or incidental to the administration or enforcement of this Act or regulations made thereunder, and every officer or servant so designated has for those purposes all the powers of a commissioner for administering oaths or taking affidavits. Assignment by corporation (6) Notwithstanding section 67 of the Financial Administration Act and any other provision of a law of Canada or a province, a corporation may assign any amount payable to it under this Act. Effect of assignment (7) An assignment referred to in subsection 220(6) is not binding on Her Majesty in right of Canada and, without limiting the generality of the foregoing, (a) the Minister is not required to pay to the assignee the assigned amount; (b) the assignment does not create any liability of Her Majesty in right of Canada to the assignee; and (c) the rights of the assignee are subject to all equitable and statutory rights of set-off in favour of Her Majesty in right of Canada. [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] R.S., 1985, c. 1 (5th Supp.), s. 220; 1994, c. 7, Sch. II, s. 181, Sch. VIII, s. 127, c. 13, s. 7; 1995, c. 21, s. 42; 1997, c. 25, s. 66; 1998, c. 19, s. 221; 1999, c. 17, s. 164, c. 22, s. 78; 2001, c. 17, s. 178; 2003, c. 15, s. 129; 2005, c. 19, s. 48, c. 38, s. 140; 2006, c. 4, s. 164; 2007, c. 35, s. 61; 2013, c. 34, s. 350; 2014, c. 39, s. 67; 2017, c. 33, s. 76 2024, c. 15, s. 61 2024, c. 17, s. 68 2024, c. 17, s. 80 2026, c. 3, s. 91