Manner of Calculation (Foreign Banks) Regulations
Version of section 5 from 2006-03-22 to 2008-05-18:
Marginal note:Portion of Canadian entity’s activities — par. 522.09(b) of the Act
5 For the purpose of paragraph 522.09(b) of the Act, the prescribed manner of determining the portion of the activities that a Canadian entity engages in that consists of the activities referred to in that paragraph (in this section referred to as “particular activities”) is to determine it as a percentage in accordance with the formula
A × 100%
where
- A
- is the greater of the fraction B/C and the fraction D/E,
where
- B
- is the part of the total assets of the Canadian entity that is in respect of the particular activities,
- C
- is the total assets of the Canadian entity,
- D
- is the part of the total revenue of the Canadian entity that is derived from the particular activities, and
- E
- is the total revenue of the Canadian entity.
- Date modified: