PROVISIONS PRESCRIBED FOR THE PURPOSES OF AN AGREEMENT UNDER SECTION 98.1 OF THE ACT
AI-assisted research summary: The Canada Revenue Agency may administer and enforce most Act and regulation provisions after April 2, 2008 if the section 98.1 agreement is in effect, but it is barred from administering or enforcing several listed provisions and from exercising certain Minister or Director powers.
Administration of the Act and regulations 1. Except as otherwise provided in section 2, every provision of the Act and the regulations made under the Act is prescribed for the purposes of subsection 98.1 (4) of the Act as a provision that may be administered and enforced by the Canada Revenue Agency after April 2, 2008 if an agreement entered into under section 98.1 of the Act is in effect at the time of the administration and enforcement of the provision. O. Reg. 74/08, s. 1. Exceptions 2. (1) Sections 74, 74.2, 74.3 and 74.4 of the Act shall not be administered or enforced by the Canada Revenue Agency. O. Reg. 74/08, s. 2 (1). (2) The Canada Revenue Agency shall not exercise the powers or perform the duties of the Minister under, (a) clause (c) of the definition of “Ontario Jobs and Opportunity Bond” in subsection 37.1 (1) of the Act, with respect to the designation of a bond, debenture or other security as an Ontario Jobs and Opportunity Bond, and sections 3, 4 and 5 of Ontario Regulation 155/03 (Tax Incentive for Investing in Ontario Jobs and Opportunity Bonds) made under the Act; (b) subsections 43.4 (5.1) and (5.2) of the Act; (c) the definition of “qualifying skilled trade” in subsection 43.13 (19) of the Act; (d) section 75 of the Act; (e) section 77 of the Act; (f) Divisions B, D and D.1 of Part V of the Act; (g) subsection 94 (3) of the Act; (h) subsections 98 (3) and (4) of the Act; (i) subsections 98.1 (1) and (8) of the Act; (j) sections 99, 100, 101, 102, 103, 104 and 105 of the Act; (k) subsection 107 (2) of the Act; (l) section 108 of the Act; (m) section 111 of the Act; (n) section 112.1 of the Act; and (o) any provision of the Act that authorizes the Minister of Finance to make regulations. O. Reg. 74/08, s. 2 (2). (3) The Canada Revenue Agency shall not exercise the powers or perform the duties of the Director of the Corporations Tax Branch referred to in paragraph 6 of the definition of “qualifying co-operative education program” in subsection 1 (1) of Ontario Regulation 61/06 (Co-operative Education Tax Credit) made under the Act. O. Reg. 74/08, s. 2 (3). (4) In administering and enforcing the Act in accordance with the agreement and this Regulation, the Canada Revenue Agency shall not exercise the Minister’s powers with respect to the prosecution of any person for an offence under the Act. O. Reg. 74/08, s. 2 (4). (5) The Canada Revenue Agency shall not, under section 109 of the Act, accept an amount in satisfaction of an amount of tax payable by a corporation under the Act that is less than the amount of tax payable under the Act by the corporation. O. Reg. 74/08, s. 2 (5). 3. Omitted (provides for coming into force of provisions of this Regulation). O. Reg. 74/08, s. 3.