EXEMPTION(S) - FOR CERTAIN CONVEYANCES OF LAND IN THE CITY OF ST. THOMAS

Interpretation 1. In this Regulation, (a) a reference to the Company is a reference to 1000511515 Ontario Inc.; and (b) a reference to the City is a reference to the City of St. Thomas. Exemptions 2. (1) Subject to subsection (2), the Company is exempt from tax under the Act in respect of a conveyance from the Corporation of the City to the Company of land within the City that is situated south of Ron McNeil Line, west of Yarmouth Centre Road, north of the Canadian National Railway Line and east of Highbury Avenue South, Centennial Road or Centennial Avenue, as the case may be. (2) The exemption under subsection (1) does not apply in respect of a conveyance of land that, (a) constitutes a lease of the land, the transfer of the interest of a lessee under a lease of the land, or a notice of any kind in writing signifying the existence of a lease of the land or of a transfer of the interest of a lessee under a lease of the land; or (b) is made pursuant to the exercise of an option to purchase the land. 3. Omitted (provides for amendments to this Regulation). 4. Omitted (provides for coming into force of provisions of this Regulation).