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: Amendment to the ruling to account for an additional fact.
Position: Accepted.
Reasons: No impact on rulings given.
XXXXXXXXXX 2014-056322
XXXXXXXXXX, 2015
Dear XXXXXXXXXX:
Re: Advance Income Tax Ruling
XXXXXXXXXX
Further to your request for an amendment to our Advance Income Tax Ruling dated XXXXXXXXXX 2014, our file number 2014-0539791R3 (the "Ruling"), issued to the above named taxpayer, the Ruling is amended by:
(1) Adding the following paragraph in the Definition section of the Ruling after paragraph (h):
"(h.1) "Hedge Fund" means XXXXXXXXXX, a fund resident in XXXXXXXXXX;".
(2) Amending the definition of "Non-Resident Holders" in paragraph (l) by replacing the words "and certain of its subsidiaries" with the words ", certain subsidiaries of the Bank, and the Hedge Fund;".
(3) Amending the definition of "Settlement Agreement" in paragraph (t) by replacing the words "the Non-Resident Noteholders" with the words "the Bank and certain of its subsidiaries".
(4) Amending paragraph 11 by replacing the words "the Non-Resident Noteholders" with the words "the Bank and certain of its subsidiaries".
(5) Amending paragraph 15 by:
(a) Replacing the words "The Non-Resident Noteholders" in the second sentence with the words "The Bank and certain of its subsidiaries";
(b) Adding the sentence "The Hedge Fund held XXXXXXXXXX% of the Notes outstanding." immediately after the second sentence; and
(c) Replacing "XXXXXXXXXX%" in the final sentence with "XXXXXXXXXX%".
(6) Amending Ruling B by replacing the words "the Non-Resident Holders" with the words "the Bank and certain of its subsidiaries" and replacing the words "their voting" with the words "the voting by the Non-Resident Holders".
We confirm that the rulings in the Ruling, as amended above, remain binding on the Canada Revenue Agency subject to the same limitations and qualifications set out in the Ruling.
Yours truly,
XXXXXXXXXX
For Director
International Division
Income Tax Rulings Directorate
Legislative Policy and Regulatory Affairs Branch
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