19(1)
December 29, 1989
Dear Sirs:
Re: Advance Income Tax Ruling 3-2453 dated October 2, 1989 ("Ruling")
24(1)
This is in reply to your letter dated December 28, 1989, wherein you advised that the proposed transactions set forth in the Ruling will not be completed by December 31, 1989 as contemplated in the Ruling.
This will confirm that your request for an extension to March 31, 1990 for the completion of the aforementioned proposed transactions has been granted. We also confirm, subject to the remaining provisos set out in the Ruling, that the specific rulings given in the Ruling will be binding on the Department of National Revenue provided the 24(1)
Yours truly,
for Director Financial Industries Division Rulings Directorate