Income Tax Act — I-3.3 87
 any time during the period, a particular person in respect of the taxpayer or of a partnership, any member of which is, at any time during the period, the taxpayer or a particular person in respect of the taxpayer, or (ii) immediately after the relevant disposition, is a non-resident person or partnership that does not deal at arm’s length with the taxpayer or with a person that is, at any time during the period that begins at the time of the foreign merger and ends immediately after the relevant disposition, a particular person in respect of the taxpayer, unless (A) at the time of the transaction or event or throughout the series, the acquirer is a non-resident corporation that is, for the purposes of section 17, a controlled foreign affiliate of the taxpayer or of a successor corporation of the taxpayer, or (B) the relevant disposition is of a share of the capital stock of a corporation resident in Canada. Interpretation — partnerships (8.31) In applying paragraph (8.3)(c), (a) a taxpayer or a particular person in respect of the taxpayer (each of which is referred to in this subsection as the “relevant taxpayer”) and an acquirer are deemed to be dealing with each other at arm’s length, at any time, for the purposes of subparagraph (8.3)(c)(i) if, (i) where either the relevant taxpayer or the acquirer is a partnership and the other party is not, any member of the partnership deals at arm’s length, at that time, with the other party, or (ii) where both the relevant taxpayer and the acquirer are partnerships, the relevant taxpayer or any member of the relevant taxpayer deals at arm’s length, at that time, with the acquirer or any member of the acquirer; (b) an acquirer is deemed to be a non-resident person with whom the relevant taxpayer does not deal at arm’s length, at any time, for the purposes of subparagraph (8.3)(c)(ii) if, (i) where either the relevant taxpayer or the acquirer is a partnership and the other party is not, (A) any member of the partnership does not deal at arm’s length, at that time, with the other party, and (B) the acquirer — or, where the acquirer is a partnership, any member of the acquirer — is a non-resident person at that time, or (ii) where both the relevant taxpayer and the acquirer are partnerships, (A) the relevant taxpayer or any member of the relevant taxpayer does not deal at arm’s length, at that time, with the acquirer or any member of the acquirer, and (B) any member of the acquirer is a non-resident person at that time; and (c) particular person and successor corporation have the same meanings as in subsection 85.1(4.2). Taxable Canadian property — conditions for rollover (8.4) Subsection (8.5) applies at any time if (a) there is at that time a foreign merger of two or more predecessor foreign corporations (within the meaning assigned by subsection (8.1), if that subsection and subsection (8.2) were read without reference to the expression “otherwise than as a result of the distribution of property to one corporation on the winding-up of another corporation”) that were, immediately before that time, (i) resident in the same country, and (ii) related to each other (determined without reference to paragraph 251(5)(b)); (b) because of the foreign merger, (i) a predecessor foreign corporation (referred to in this subsection and subsection (8.5) as the “disposing predecessor foreign corporation”) disposes of a property (referred to in this subsection and subsection (8.5) as the “subject property”) that is, at that time, (A) a taxable Canadian property (other than treaty-protected property) of the disposing predecessor foreign corporation, and (B) any of the following: (I) a share of the capital stock of a corporation, (II) an interest in a partnership, and (III) an interest in a trust, and (ii) the subject property becomes property of a corporation that is a new foreign corporation for the purposes of subsection (8.1); (c) no shareholder (except any predecessor foreign corporation) that owned