14 March 2007 External T.I. 2007-0219601E5 F - Police d'assurance-vie cédée en garantie -- summary under Paragraph 20(1)(e.2)

Premiums paid by a parent corporation on a life insurance policy owned by it and assigned as security for a loan made to its subsidiary by a restricted financial institution are not deductible in computing its income pursuant to s. 20(1)(e.2), as it is not the borrower.