Income Tax Regulations
Version of section 7900 from 2009-11-19 to 2013-06-25:
7900 (1) For the purposes of section 33.1 and the definitions excluded income and excluded revenue and specified deposit in subsection 95(2.5) of the Act, each of the following is a prescribed financial institution:
(a) a member of the Canadian Payments Association, other than an authorized foreign bank; and
(b) a credit union that is a shareholder or member of a body corporate or organization that is a central for the purposes of the Canadian Payments Act.
(2) For the purposes of the definitions excluded income and excluded revenue and specified deposit in subsection 95(2.5) of the Act, an authorized foreign bank is a prescribed financial institution.
- [NOTE: Application provisions are not included in the consolidated text
- see relevant amending Acts and regulations.]
- SOR/90-285, s. 2
- SOR/94-686, s. 79(F)
- SOR/97-505, s. 10
- SOR/2009-302, s. 11
- Date modified: