Discuss General Topics.
cecil, honestly, you just don't understand what you are reading. And I'm not going to give you an in depth legal lesson. I've explained to you what this act relates to. You can annotate the act all you want but that's not going to change the mistake you have made and I'm not going to go line by line through the act with you.
Why don't you do some research yourself and see if you can find an application of this act outside of the context I described. Why don't you apply to the government for the certificate of your ownership? See if they have something to give you?
http://laws-lois.justice.gc.ca/eng/acts ... lText.html
Canadian Ownership and Control Determination Act
R.S.C., 1985, c. C-20
An Act respecting Canadian ownership and control determination
(3) For greater certainty, for the purposes of this Act, a separate trust exists with respect to all assets, investments or property held by a trustee under a trust instrument for the benefit of a person, group or class of persons, notwithstanding that under the same trust instrument different assets, investments or property are held for the benefit of a different person, group or class of persons.
“control status” means, with respect to a person, whether or not the person is Canadian controlled as determined under this Act and the regulations;
“person” means an individual, a corporation, a partnership, a trust, a government, an agency of government, a segregated fund within the meaning of the regulations and an organization that is prescribed as being a person or that falls into a class of organizations prescribed as being persons;
Here: this will help you with the context of the act: http://www.ic.gc.ca/eic/site/smt-gst.ns ... .html#sec1
As for your annotations, I've already explained to you how you are wrong. You just don't understand the law here.
Again, you don't understand what you are reading. This Act is relevant to federally regulated Canadian businesses where there is a requirement that they are Canadian owned and controlled. Take a look at the link I provided you - it gives an example of how to calculate if the business is so owned and controlled. You can then request a certificate under the act that will confirm the status.
You need to look up what a legal person is.
That link you attached does not support your interpretation at all - but it does support mine.
But don't take my word for it: go apply to the government for your certificate - see what you get!
Who is online
Users browsing this forum: No registered users and 4 guests