Income Tax Regulations

4802 (1) For the purposes of clause 149(1)(o.2)(iv)(D) of the Act, the following are prescribed persons:

• (a) a trust all the beneficiaries of which are trusts described in clause 149(1)(o.2)(iv)(B) of the Act;

• (b) a corporation incorporated before November 17, 1978 solely in connection with, or for the administration of, a registered pension plan;

• (c) a trust or corporation established by or arising by virtue of an act of a province the principal activities of which are to administer, manage or invest the monies of a pension fund or plan that is established pursuant to an act of the province or an order or regulation made thereunder;

• (c.1) the Canada Pension Plan Investment Board;

• (c.2) the Public Sector Pension Investment Board;

• (c.3) a pooled registered pension plan;

• (d) a trust or corporation established by or arising by virtue of an act of a province in connection with a scheme or program for the compensation of workers injured in an accident arising out of or in the course of their employment;

• (e) Her Majesty in right of a province;

• (f) a trust all of the beneficiaries of which are any combination of

  • (i) registered pension plans,

  • (ii) trusts described in clause 149(1)(o.2)(iv)(B) or (C) of the Act, and

  • (iii) persons described in this subsection; and

• (g) a corporation all of the shares of the capital stock of which are owned by one or more of the following:

  • (i) registered pension plans,

  • (ii) trusts described in clause 149(1)(o.2)(iv)(B) or (C) of the Act, and

  • (iii) persons described in this subsection.

(1.1) For the purposes of subparagraph 127.55(f)(iii) and paragraph 149(1)(o.4) of the Act, a trust is prescribed at any particular time if, at all times after its creation and before the particular time,

• (a) it was resident in Canada;

• (b) its only undertaking was the investing of its funds;

• (c) it never borrowed money except where the borrowing was for a term not exceeding 90 days and it is established that the borrowing was not part of a series of loans or other transactions and repayments;

• (d) it never accepted deposits; and

• (e) each of the beneficiaries of the trust was a trust governed by a deferred profit sharing plan, a pooled registered pension plan or a registered pension plan.

(2) [Repealed, 2017, c. 20, s. 33]