CRA finds that grant of power of attorney did not result in an acquisition of control

CRA has stated that the granting of the power of attorney over the shares of a corporation in favour of the shareholder's accountant (an arm's length person), which then took effect on the shareholder's incapacity, did not result in an acquisition of control of the corporation.  Under Duha, such an arrangement, which was external to corporation's corporate constitution, did not affect its control.

Neal Armstrong.  Summary 5 October 2012 APFF Roundtable, Q 17 2012-0454111C6 F of under s. 249(4).