Common use of Income Tax Act (Canada) Clause in Contracts

Income Tax Act (Canada). In this Contract of Trust, any reference to the “Income Tax Act (Canada)”, the “Income Tax Act” or the “Tax Act” shall refer to the Income Tax Act, Revised Statutes of Canada 1985, Chapter 1 (5th Supplement) and the regulations thereunder as amended from time to time applicable with respect thereto. Any reference herein to a particular provision of the Income Tax Act shall include a reference to that provision as it may be renumbered or amended from time to time. Where there are proposals for amendments to the Income Tax Act which have not been enacted into law or proclaimed into force on or before the date on which such proposals are to become effective, the Trustees may take such proposals into consideration and apply the provisions hereof as if such proposals had been enacted into law and proclaimed into force. Any reference herein to the Income Tax Act (Canada), the Income Tax Act or to the Tax Act shall also include a reference to any applicable and corresponding provision under the income tax laws of a province or territory of Canada.