Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Principal Issues: Minor changes to facts of ruling 2011-041735
Position: Ruling modified
Reasons: Changes do not affect validity of rulings given
XXXXXXXXXX
2011-042689
Attention: XXXXXXXXXX
XXXXXXXXXX , 2011
Dear Sir:
Re: XXXXXXXXXX
Supplemental Advance Income Tax Ruling
We are writing in response to your recent email of XXXXXXXXXX in which you requested amendments to Advance Income Tax Ruling 2011-041735 (the "Ruling"). Capitalized terms used in this letter have the meanings given to them in the Ruling.
Consequently, we amend the Ruling as follows:
1- Changes to the definitions: the following definition will read as follows:
"Subco 2 Distribution Shares" means the XXXXXXXXXX common shares of Subco 2 owned by Pubco after the exercise of the warrants described in paragraph 16 below;
2- Changes to the facts: In paragraph 15, the following words are removed: "Pubco will own XXXXXXXXXX Subco 2 common shares (the "Subco 2 Distribution Shares") and warrants to purchase common shares"
3- Changes to proposed transactions: Existing paragraph 16 will be re-numbered as paragraph 16.1.
4- Changes to proposed transactions: Paragraph 16 will be replaced by the following paragraph:
"Pubco will exercise XXXXXXXXXX Subco 2 warrants."
Confirmation
We confirm that the rulings given in the Ruling, as modified by this letter, will continue to be binding on the Canada Revenue Agency subject to the same limitations and qualifications set out therein.
Yours truly,
XXXXXXXXXX
for Director
Reorganizations and Resources Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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© Her Majesty the Queen in Right of Canada, 2011
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