Subsection 48.1(1) - Gain when small business corporation becomes public
Administrative Policy
26 September 1996 T.I. 5-962766
S.48.1 will not be available to individuals who hold shares of a Canadian-controlled private corporation that amalgamates with a public corporation because the amalgamated corporation would be deemed to be a public corporation by virtue of s. 87(2)(ii) of the Act rather than by virtue of a listing of its shares.