Eastern Daylight Saving Time, June 18, 1987 on the exercise of a right that(i)was issued before that time, that was issued after that time under an agreement in writing entered into before that time or that was issued after that time and before 1988 as part of a distribution to the public made in accordance with the terms of a prospectus, preliminary prospectus, registration statement, offering memorandum or notice filed before that time with a public authority under and in accordance with the securities legislation of the jurisdiction in which the rights were distributed, and(ii)was listed on a designated stock exchange,where all or substantially all the terms and conditions of the right and the share were established in writing before that time,except that a share that is deemed under the definitionshort-term preferred share,taxable preferred shareorterm preferred sharein this subsection or under subsection 112(2.22) to have been issued at any time is deemed after that time not to be a grandfathered share for the purposes of that provision; (action de régime transitoire)gross revenuegross revenueof a taxpayer for a taxation year means the total of(a)all amounts received in the year or receivable in the year (depending on the method regularly followed by the taxpayer in computing the taxpayer’s income) otherwise than as or on account of capital, and(b)all amounts (other than amounts referred to in paragraph (a)) included in computing the taxpayer’s income from a business or property for the year because of subsection 12(3) or (4) or section 12.2 of this Act or subsection 12(8) of theIncome Tax Act, chapter 148 of the Revised Statutes of Canada, 1952; (revenu brut)group term life insurance policygroup term life insurance policymeans a group life insurance policy under which the only amounts payable by the insurer are(a)amounts payable on the death or disability of individuals whose lives are insured in respect of, in the course of or because of, their office or employment or former office or employment, and(b)policy dividends or experience rating refunds; (police d’assurance-vie collective temporaire)highest individual percentagehighest individual percentage, for a taxation year, means the highest percentage referred to in subsection 117(2) for the taxation year; (taux d’imposition supérieur pour l’année)home relocation loanhome relocation loanmeans a loan received by an individual or the individual’s spouse or common-law partner in circumstances where the individual has commenced employment at a location in Canada (in this definition referred to as the “new work location”) and by reason thereof has moved from the residence in Canada at which, before the move, the individual ordinarily resided (in this definition referred to as the “old residence”) to a residence in Canada at which, after the move, the individual ordinarily resided (in this definition referred to as the “new residence”) if(a)the distance between the old residence and the new work location is at least 40 kilometres greater than the distance between the new residence and the new work location,(b)the loan is used to acquire a dwelling, or a share of the capital stock of a cooperative housing corporation acquired for the sole purpose of acquiring the right to inhabit a dwelling owned by the corporation, where the dwelling is for the habitation of the individual and is the individual’s new residence,(c)the loan is received in the circumstances described in subsection 80.4(1), or would have been so received if subsection 80.4(1.1) had applied to the loan at the time it was received, and(d)the loan is designated by the individual to be a home relocation loan, but in no case shall more than one loan in respect of a particular move, or more than one loan at any particular time, be designated as a home relocation loan by the individual; (prêt à la réinstallation)income-averaging annuity contractincome-averaging annuity contractof an individual means, except for the purposes of section 61, a contract(a)that is an income-averaging annuity contract within the meaning assigned by subsection 61(4), and(b)in respect of which the individual has made a deduction under section 61 in computing the individual’s income for a taxation year; (contrat de rente à versements invariables)income bondincome bondorincome debentureof a corporation (in this definition referred to as the “issuing corporation”) means a bond or debenture in respect of which interest or dividends are payable only to the extent that the issuing corporation has made a profit before taking into account the interest or dividend obligation and that was issued(a)before November 17, 1978,(b)after November 16, 1978 and before 1980 pursuant to an agreement in writing to do so made before November 17, 1978 (in this definition referred to as an “established agreement”), or(c)by an issuing corporation resident in Canada for a term that may not, in any circumstances, exceed 5 years,(i)as part of a proposal to or an arrangement with its creditors that had been approved by a court under theBankruptcy and Insolvency Act,(ii)at a time when all or substantially all of its assets were under the control of a receiver, receiver-manager, sequestrator or trustee in bankruptcy, or(iii)at a time when, by reason of financial difficulty, the issuing corporation or another corporation resident in Canada with which it does not deal at arm’s length was in default, or could reasonably be expected to default, on a debt obligation held by a person with whom the issuing corporation or the other corporation was dealing at arm’s length and the bond or debenture was issued either wholly or in substantial part and either directly or indirectly in exchange or substitution for that obligation or a part thereof,and, in the case of a bond or debenture issued after November 12, 1981, the proceeds from the issue may reasonably be regarded as having been used by the issuing corporation or a corporation with which it was not dealing at arm’s length in the financing of its business carried on in Canada immediately before the bond or debenture was issued,and, for the purposes of this definition,(d)where the terms or conditions of an established agreement were amended after November 16, 1978, the agreement shall be deemed to have been made after that date, and(e)where(i)at any particular time the terms or conditions of a bond or debenture issued pursuant to an established agreement or of any agreement relating to such a bond or debenture have been changed,(ii)under the terms or conditions of a bond or debenture acquired in the ordinary course of the business carried on by a specified financial institution or a partnership or trust (other than a testamentary trust) or under the terms or conditions of any agreement relating to any such bond or debenture (other than an agreement made before October 24, 1979 to which the issuing corporation or any person related thereto was not a party), the owner thereof could at any particular time after November 16, 1978 require, either alone or together with one or more taxpayers, the repayment, acquisition, cancellation or conversion of the bond or debenture otherwise than by reason of a failure or default under the terms or conditions of the bond or debenture or any agreement that related to, and was entered into at the time of, the issuance of the bond or debenture,(iii)at any particular time after November 16, 1978, the maturity date of a bond or debenture was extended or the terms or conditions relating to the repayment of the principal amount thereof were changed,(iv)at a particular time a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquires a bond or debenture that(A)was issued before November 17, 1978 or under an established agreement,(B)was issued to a person other than a corporation that was, at the time of issue,(I)described in any of paragraphs (a) to (e) of the definitionspecified financial institution, or(II)a corporation that was controlled by one or more corporations described in subclause (I) and, for the purpose of this subclause, one corporation is controlled by another corporation if more than 50% of its issued share capital (having full voting rights under all circumstances) belongs to the other corporation, to persons with whom the other corporation does not deal at arm’s length, or to the other corporation and persons with whom the other corporation does not deal at arm’s length,(C)was acquired from a person that was, at the time the person last acquired the bond or debenture and at the particular time, a person other than a corporation described in any of paragraphs (a) to (f) of that definition, and(D)was acquired otherwise than under an agreement in writing made before October 24, 1979, or(v)at a particular time after November 12, 1981, a specified financial institution (or a partnership or trust of which a specified financial institution or a person related to the institution is a member or beneficiary) acquires a bond or debenture that(A)was not a bond or debenture referred to in paragraph (c),(B)was acquired from a person that was, at the particular time, a corporation described in any of paragraphs (a) to (f) of the definitionspecified financial institution, and(C)was acquired subject to or conditional on a guarantee agreement (within the meaning that would be assigned by subsection 112(2.2) if the reference in that subsection to a “share” were read as a reference to an “income bond” or “income debenture”) that was entered into after November 12, 1981,the bond or debenture shall, for the purposes of determining at any time after the particular time whether it is an income bond or income debenture, be deemed to have been issued at the particular time otherwise than pursuant to an established agreement; (obligation à intérêt conditionnel)income interestincome interestof a taxpayer in a trust has the meaning assigned by subsection 108(1); (participation au revenu)indexed debt obligationindexed debt obligationmeans a debt obligation the terms or conditions of which provide for an adjustment to an amount payable in respect of the obligation for a period during which the obligation was outstanding that is determined by reference to a change in the purchasing power of money; (titre de créance indexé)individualindividualmeans a person other than a corporation; (particulier)insurance corporationinsurance corporationmeans a corporation that carries on an insurance business; (compagnie d’assurance)insurance policyinsurance policyincludes a life insurance policy; (police d’assurance)insurerinsurerhas the meaning assigned by this subsection to the expressioninsurance corporation; (assureur)international shippinginternational shippingmeans the operation of a ship owned or leased by a person or partnership (in this definition referred to as the “operator”) that is used, either directly or as part of a pooling arrangement, primarily in transporting passengers or goods in international traffic — determined as if, except where paragraph (c) of the definitioninternational trafficin this subsection applies, any port or other place on the Great Lakes or St