Excise Tax Act — E-15 156
Definitions 156 (1) The definitions in this subsection apply in this section. Canadian partnership [Repealed, 2024, c. 15, s. 133] distribution has the meaning assigned by subsection 55(1) of the Income Tax Act . ( attribution ) qualifying group means (a) a group of corporations, each member of which is closely related, within the meaning assigned by section 128, to each other member of the group; or (b) a group of specified partnerships, or of specified partnerships and corporations, each member of which is closely related, within the meaning of this section, to each other member of the group. ( groupe admissible ) qualifying member of a qualifying group means a registrant that is a corporation resident in Canada or a specified partnership, each member of which is resident in Canada, and that meets the following conditions: (a) the registrant is a member of the group; (b) the registrant is not a party to an election under subsection 150(1); and (c) one of the following conditions is met: (i) the registrant has property (other than financial instruments and property having a nominal value) and has last manufactured, produced, acquired or imported all or substantially all of its property (other than financial instruments and property having a nominal value) for consumption, use or supply exclusively in the course of commercial activities of the registrant, (ii) the registrant has no property (other than financial instruments and property having a nominal value) and has made supplies and all or substantially all of the supplies made by the registrant are taxable supplies, or (iii) the registrant has no property (other than financial instruments and property having a nominal value) and has not made taxable supplies and it is reasonable to expect that (A) the registrant will be making supplies throughout the next 12 months, (B) all or substantially all of those supplies will be taxable supplies, and (C) all or substantially all of the property (other than financial instruments and property having a nominal value) to be manufactured, produced, acquired or imported by the registrant within the next 12 months will be for consumption, use or supply exclusively in the course of commercial activities of the registrant. ( membre admissible ) secured creditor [Repealed, 2000, c. 30, s. 25] security interest [Repealed, 2000, c. 30, s. 25] specified member of a qualifying group means (a) a qualifying member of the group; or (b) a temporary member of the group during the course of the reorganization referred to in paragraph (f) of the definition temporary member . ( membre déterminé ) specified partnership means a partnership each member of which is a corporation or a partnership. ( société de personnes déterminée ) temporary member of a qualifying group means a particular corporation (a) that is a registrant; (b) that is resident in Canada; (c) that is a member of the qualifying group; (d) that is not a qualifying member of the qualifying group; (e) that is not a party to an election under subsection 150(1); (f) that receives a supply of property that meets the following conditions: (i) the supply is made by another corporation that is a qualifying member of the qualifying group and in contemplation of a distribution made in the course of a reorganization whereby the shares of the particular corporation are to be transferred upon the distribution to one or more corporations (in this definition referred to as the “transferee corporations”), (ii) the supplied property includes property that is neither a financial instrument nor property having a nominal value, and (iii) all or substantially all of the supplied property (other than financial instruments and property having a nominal value) (A) was last manufactured, produced, acquired or imported 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 corpora