CRA indicates that an annuity issued by a registered charity did not qualify for the s. 60(l) rollover

In order for an annuity to be eligible for a tax-deferred rollover under s. 60(l), s. 60(l)(ii) requires that the annuity issuer must be a person licensed or otherwise authorized under the laws of Canada or a province to carry on an annuities business in Canada. In rejecting the proposition that a registered charity could issue a charitable gift annuity that was eligible for the rollover, CRA stated:

[T]he fact that provincial insurance law may exempt a charitable organization from the application of certain legislative requirements with respect to the issuance of charitable gift annuities does not amount to the organization being licensed or otherwise authorized under that law to carry on an annuities business in Canada.

Neal Armstrong. Summary of 23 January 2020 External T.I. 2019-0830781E5 under s. 60(l)(ii).