In the course of a general response to a query as to when a company would lose its status as a not-for-profit organization, CRA stated:
If, at any time, a corporation no longer carries on any of the activities referred to in paragraph 149(1)(l), it is our view that it ceases, at that time, to be eligible for the exemption provided for in paragraph 149(1)(l).
If, at any time, a corporation ceases to be exempt from tax under Part I on its taxable income, the rules in subsection 149(10) must be applied.