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.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
XXXXXXXXXX 970818
XXXXXXXXXX
Attention: XXXXXXXXXX
XXXXXXXXXX, 1997
Dear Sirs:
Re: XXXXXXXXXX
Advance Income Tax Ruling 970302, dated XXXXXXXXXX, 1997
This is in reply to your telephone request of XXXXXXXXXX, wherein you advised us of an amendment to the facts described in the above-referenced Advance Income Tax Ruling (the "Original Ruling") and previously amended as per our letter dated XXXXXXXXXX, 1997 (hereinafter the two letters will be collectively referred to as the "Ruling Letter").
Any reference herein to paragraphs are references to those contained in the Ruling Letter and any defined terms used in this letter have the meanings assigned to them in the Ruling Letter.
The Ruling Letter is hereby amended as follows:
The first sentence of paragraph 4 is deleted and replaced by:
"At its meeting held on XXXXXXXXXX, the Board of Directors approved several amendments to the Plan (hereinafter referred to as the "Amended Plan"). Any employee who receives options under the Amended Plan will hereinafter be referred to as a "New Optionee"."
The reference to "described in paragraph 4(d) above" in ruling A is deleted and replaced by "described in paragraph 4(f) above".
Notwithstanding the above changes, we confirm that, subject to the conditions set out therein, the rulings given in the Ruling Letter will continue to be binding on the Department in accordance with the practice outlined in Information Circular 70-6R3, dated December 30, 1996, provided that the New Cash Out Rights are granted within six months of the date of the Original Ruling.
Yours truly,
for Director
Financial Industries Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch
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© Her Majesty the Queen in Right of Canada, 1996
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© Sa Majesté la Reine du Chef du Canada, 1996
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