Part 5Application of this Chapter to certain transactions

Part 5 — Application of this Chapter to certain transactions

Division 1 — Simultaneous put and call options

44. Terms used 63

Subdivision 2 — Simultaneous put and call options

45. Call option of simultaneous put and call option to be taken to be agreement for transfer of option property 64

46. Simultaneous put and call option, dutiable value of 65

47. Dutiable transaction referred to in s. 45, duty paid on to be credited 65

48. Simultaneous put and call option not exercised or assigned, consequences of 66

Subdivision 3 — Assignment of call option

49. Assignment of call option to be taken to be agreement for transfer of option property 67

50. Assignment of call option, dutiable value of 67

51. Dutiable transaction referred to in s. 49, duty paid on to be credited 68

52. Assigned call option not exercised or further assigned, consequences of 68

Division 2 — Discretionary trust acquisitions and surrenders

53. References to partnership or trust holding property 69

54. References to taker in default 69

55. References to trust acquisition 69

56. References to trust surrender 70

57. When discretionary trust holds indirect interest in dutiable property 70

Subdivision 2 — Trust acquisitions and trust surrenders

58. When person acquires interest in discretionary trust 70

59. Trust acquisition or trust surrender, dutiable value of 71

60. References to interest in discretionary trust of taker in default 71

61. Taker in default’s interest, value of for s. 59(b) 72

62. When trust acquisition or trust surrender is not dutiable transaction 73

Division 3 — Corporate trustees

63. Terms used 74

64. References to trustee of discretionary trust holding property 74

65. References to corporate trustee 75

66. When corporate trustee holds indirect interest in dutiable property 75

Subdivision 2 — Disposition of shares in a corporate trustee