Excise Tax Act — E-15 156
by the other corporation for consumption, use or supply exclusively in the course of the commercial activities of the other corporation, (B) is not consumed, used or supplied by the particular corporation otherwise than exclusively in the course of its commercial activities, and (C) may reasonably be expected to be consumed, used or supplied by the transferee corporations exclusively in the course of their commercial activities within 12 months after the time the supply is made; (g) that, before receiving the supply, does not carry on any business or have any property (other than financial instruments); and (h) the shares of which are transferred to the transferee corporations upon the distribution referred to in subparagraph (f)(i). ( membre temporaire ) Closely related persons (1.1) For the purposes of this section, a particular specified partnership and another person that is a specified partnership or a corporation are closely related to each other at any time if, at that time, (a) in the case where the other person is a specified partnership, (i) all or substantially all of the interest in the other person is held by (A) the particular partnership, (B) a corporation, or a specified partnership, that is a member of a qualifying group of which the particular partnership is a member, or (C) any combination of corporations or partnerships referred to in clauses (A) and (B), or (ii) the particular partnership (A) both holds qualifying voting control in respect of a corporation that is a member of a qualifying group of which the other person is a member and owns at least 90% of the value and number of the issued and outstanding shares, having full voting rights under all circumstances, of the capital stock of the corporation, or (B) holds all or substantially all of the interest in a specified partnership that is a member of a qualifying group of which the other person is a member; and (b) in the case where the other person is a corporation, (i) qualifying voting control in respect of the other person is held by, and not less than 90% of the value and number of the issued and outstanding shares, having full voting rights under all circumstances, of the capital stock of the other person are owned by, (A) the particular partnership, (B) a corporation, or a specified partnership, that is a member of a qualifying group of which the particular partnership is a member, or (C) any combination of corporations or partnerships referred to in clauses (A) and (B), (ii) qualifying voting control in respect of a corporation is held by, and not less than 90% of the value and number of the issued and outstanding shares, having full voting rights under all circumstances, of the capital stock of the corporation are owned by, (A) if the corporation is a member of a qualifying group of which the particular partnership is a member, the other person, and (B) if the corporation is a member of a qualifying group of which the other person is a member, the particular partnership, (iii) all or substantially all of the interest in the particular partnership is held by (A) the other person, (B) a corporation, or a specified partnership, that is a member of a qualifying group of which the other person is a member, or (C) any combination of corporations or partnerships referred to in clauses (A) and (B), or (iv) all or substantially all of the interest in a specified partnership is held by (A) if the specified partnership is a member of a qualifying group of which the particular partnership is a member, the other person, and (B) if the specified partnership is a member of a qualifying group of which the other person is a member, the particular partnership. Persons closely related to the same person (1.2) If, under subsection (1.1), two persons are closely related to the same corporation or specified partnership, the two persons are closely related to each other for the purposes of this section. Interest in a partnership (1.3) For the purposes of this section