"... Where an employee disposes of his or her rights under a securities option agreement in exchange for shares of the capital stock of the employer having a fair market value equal to the fair market value of the rights under the securities option plan, the employee may qualify for the deduction under paragraph 110(1)(d)."
Where under a securities option plan "an employee has the right to choose to receive the fair market value of the securities option rights in shares, paragraph 7(1)(b) will apply in respect to the disposition of those rights".
Under "Change of Position in Respect of GAAR - Section 7".
