12 July 2000 Internal T.I. 2000-0027857 F - PDTPE - COOPÉRATIVE -- summary under Subsection 136(1)

Regarding whether the members of a cooperative could claim an allowable business investment loss respecting their shares in the cooperative pursuant to s. 50(1), the Directorate noted that such shares could qualify as shares of a Canadian-controlled private corporation, given that a share in a cooperative corporation as defined in s. 136(2) was a share within the meaning of s. 248(1) and that a cooperative corporation was deemed for purposes of s. 39(1)(c) to be a private corporation by virtue of s. 136(1).