81 C.R. - Q.49

For purposes of s. 15(1), the repayment of a note bearing little or no interest will not be regarded as entailing the conferral of a benefit on the shareholder holding the note provided that the consideration given for the note was equal to its face value.

RC will not apply s. 15(1) to a shareholder where a note bearing little or no interest is repaid at its face value provided that the consideration given by the shareholder for the note was equal to its face value.