redeem

s. 256(6)(b) was not satisfied because control also held to protect investment in building and because shares were to be purchased for cancellation rather than redeemed

Although s. 256(6)(a) was satisfied, s. 256(6)(b) was not satisfied regarding the shareholding of Holdco1 in Opco1. Although CCRA accepted that...

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redeem

McArdle Estate [No. 2] v. MNR, 62 DTC 402 (TAB) -- summary under Subsection 84(3)

Full Title
McArdle Estate [No. 2] v. MNR, 62 DTC 402 (TAB)
repurchase and re-allotment of shares was not a redemption

The president (McArdle) of a private company had been issued “employee redeemable shares,” whose terms provided that they participated on a...

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