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Adjusted cost base (ACB): The actual or deemed cost amount of each share or group of shares that will be used to calculate any capital gain or loss when the shares are sold or disposed of.
Fair market value (FMV): The highest dollar value that can be obtained for a property or share in an open and unrestricted market between a willing buyer and a willing seller who are acting independently of each other.
Jurisdiction: The country within which a sovereign power can exercise its authority to govern and apply the law.
Original corporation: The corporation that owned the shares of the spin-off corporation and distributed shares of the spin-off corporation to its shareholders.
Original shares: Common shares of the original corporation.
Spin-off corporation: The corporation that is spun off to the shareholders of the original corporation.
Spin-off shares: Common shares of the spin-off corporation.