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.
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7-921274 |
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P. Spice |
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957-8953 |
May 5, 1992
Registered Plans DivisionFinancial Industries DivisionMrs. Stella KotlarDirector
Attn: Geoff Turrell
24(1)
RRSP Promotion
This is in reply to your memorandum of April 15, 1992, in which you ask us to review the letter of February 21, 1992, from the above-noted Bank concerning their promotional activities 24(1). You also asked us to confirm our previous interpretations of paragraph 146(2)(c.4) as contained in our correspondence of October 28, 1988 (24(1)) and December 9, 1991 (to you), copies of which you enclosed with your memorandum. In our telephone conversation of April 30, 1992 (Spice/Turrell), you confirmed that your concern relates to the indirect nature of the campaign and the fact that it was not aimed specifically at individuals interested in purchasing RRSP's.
24(1)
Notwithstanding the 24(1) arguments, 24(1) and there was, therefore, a contravention of paragraph 146(2)(c.4). It does not matter that some or most of the 24(1). We therefore confirm our interpretations as contained in our previous correspondence noted above.
for DirectorFinancial Industries DivisionRulings DirectorateLegislative and Intergovernmental Affairs Branch
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© Her Majesty the Queen in Right of Canada, 1992
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© Sa Majesté la Reine du Chef du Canada, 1992
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