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.
March 22, 1989 Legislative and Intergovernmental Affairs Branch R. Langevin 957-2138
DOSSIER
We have enclosed correspondence requesting our comments on the availability of an amended election pursuant to subsection 85(7.1) of the Act.
It can be anticipated that recurring questions concerning the qualification of shares as qualified small business corporation shares will arise and that adjustment clauses will be resorted to with the view to amending a subsection 85(1) election, in the circumstances described, by virtue of the Minister's authority under subsection 85(7.1) of the Act.
Pursuant to T.O.M. 4O(15)(26).5, the Assistant Deputy Minister, Policy and Systems Branch, exercises the Minister's powers under subsection 85(7.1) of the Act. Accordingly, we are referring this enquiry to you for your consideration and direct reply.
M.A.G. Blitz for Director General Specialty Rulings Directorate Legislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1989
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© Sa Majesté la Reine du Chef du Canada, 1989
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