O. Reg. 121/00: EXEMPTIONS: FOR CONVEYANCE TO FAMILY FARM CORPORATION OR FAMILY BUSINESS CORPORATION

 

ONTARIO REGULATION 121/00

made under the

Land Transfer Tax Act

Made: February 16, 2000
Filed: February 17, 2000

Amending Reg. 697 of R.R.O. 1990

(Exemption(s):  For Conveyance to Family Farm Corporation or Family Business Corporation)

1. (1) The definition of “family business corporation” in subsection 1 (1) of Regulation 697 of the Revised Regulations of Ontario, 1990 is amended by striking out “each of whom is not a non–resident person and”.

(2) Clause (a) of the definition of “family farm corporation” in subsection 1 (1) of the Regulation is amended by striking out “each of whom is not a non–resident person and”.

(3) Clause (j) of the definition of “members of the family” in subsection 1 (1) of the Regulation is amended by striking out “none of whom is a non–resident person and”.

2. Clause 2 (1) (a) of the Regulation is amended by striking out “each of whom is not a non–resident person and”.

3. Clause 3 (1) (a) of the Regulation is amended by striking out “is not a non–resident person and each of whom”.

4. This Regulation shall be deemed to have come into force on May 7, 1997.