%PDF-1.6 % 1 0 obj <>/Font<>/ProcSet[/PDF/Text]/ExtGState 222 0 R/XObject 223 0 R>>/Rotate 0/StructParents 14/Type/Page/Tabs/S>> endobj 2 0 obj [18 0 R 19 0 R 20 0 R 15 0 R 16 0 R 17 0 R] endobj 3 0 obj <>stream /CS0 cs 1 scn 36 766.552 576 -694.552 re f BT /P <>BDC 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 60.8276 744.2068 Tm [(The)-42( shareholder)-14( is)-43( then)-54( taxed)-24( on)-6( the)-22( difference)-21( between)-43( the)-22( cash)-6( surrender)-15( value)-22( of)-48( the)-22( policy)-32( and)]TJ EMC /P <>BDC 0 -1.235 TD [(its adjusted)-43( cost)-48( base,)-25( and)-38( the)-22( resulting)-44( gain,)-8( if)-29( any,)-51( is)-43( considered)-50( to)-48( be)-6( income)-12( from property)-38( and)]TJ EMC /P <>BDC 0 -1.471 TD [(not)-22( a)-32( capital)-51( gain.)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 0 Tw 8.6897 0 0 8.6897 145.2414 719.3793 Tm (2)Tj ET /CS1 CS 0 0 1 SCN 0.621 w q 1 0 0 1 145.2414 718.7586 cm 0 0 m 4.966 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 150.2069 715.6552 Tm [( Assuming)-22( that)-38( the)-22( cash)-6( surrender)-15( value)-22( of)-48( the)-22( policy)-32( is)-43( low)-29( and)-38( that)-38( its fair)]TJ EMC /P <>BDC -8.471 -1.235 Td [(market)-3( value)-22( is)-43( high,)-8( the)-22( shareholder)-14( will)-24( benefit)-57( from a)-32( significant)-25( disbursement)-57( of)-48( funds)-25( with)-45( little)]TJ EMC /P <>BDC 0 -1.235 TD [(or)-52( no)-6( negative)-43( tax)-19( impact.)]TJ EMC /P <>BDC 0 -2.471 TD [(The)-42( fair)-23( market)-3( value)-22( of)-48( a)-32( policy)-32( will)-24( be)-6( higher)-44( than)-54( its cash)-6( surrender)-15( value,)-38( for)-9( instance,)-57( where)-42( the)]TJ EMC /P <>BDC 0 -1.235 TD [(insured\222s)-58( health)-41( condition)-57( has)-35( deteriorated)-17( since)-19( he)-6( or)-52( she)-35( took)-51( out)-22( the)-22( policy.)-48( This)-52( will)-24( also)-48( be)-6( the)]TJ EMC /P <>BDC T* [(case)-6( where)-42( the)-22( theoretical)-34( premium)-52( for)-9( a)-32( comparable)-11( policy)-32( would)-35( be)-6( higher)-44( than)-54( that)-38( paid)-51( for)-9( the)]TJ EMC /P <>BDC 0 -1.235 TD [(policy)-32( in)-46( question)-43( for)-9( financial)-38( reasons)-31( attributable)-53( to)-48( the)-22( type)-51( of)-48( policy)-32( purchased)-37( or)-52( to)-48( changes)-44( in)]TJ EMC /P <>BDC 0 Tw 0 -1.235 TD (pricing.)Tj EMC /P <>BDC 0.016 Tw 0 -2.471 TD [(As)-9( for)-9( the)-22( corporation,)-14( it)-29( ends)-8( up)-6( making)-12( a)-32( non)-38(-)-20(deductible)-30( outlay)-38( of)-48( funds)-25( and)-38( acquiring)-2( an)-6( interest)]TJ EMC /P <>BDC 0 -1.235 TD [(in)-45( an)-6( insurance)-18( policy)-32( with)-45( an)-6( adjusted)-43( cost)-48( base)-8( equal)-25( to)-48( its cash)-6( surrender)-15( value.)-38( Thus,)-28( upon)-11( the)]TJ EMC /P <>BDC T* [(death)-27( of)-48( the)-22( shareholder,)-30( in)-45( addition)-27( to)-48( receiving)-58( the)-22( insurance)-18( proceeds,)-21( the)-22( corporation)-57( will)-24( also)]TJ EMC /P <>BDC 0 -1.235 TD [(benefit)-57( from an)-6( increase)-44( in)-46( its capital)-51( dividend)-41( account)-27( equal)-25( to)-48( the)-22( indemnity)-15( received,)-2( less)-45( the)]TJ EMC /P <>BDC 0 -1.471 TD [(adjusted)-43( cost)-48( base)-8( of)-48( the)-22( policy.)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 0 Tw 8.6897 0 0 8.6897 214.1379 534.4138 Tm (3)Tj ET q 1 0 0 1 214.1379 533.7931 cm 0 0 m 4.966 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 60.8276 504.6207 Tm [(The)-42( Canada)-27( Revenue)-57( Agency)-18( acknowledges)-17( the)-22( validity)-3( of)-48( this)-32( type)-51( of)-48( planning,)-60( but)-22( seems)-55( to)-48( be)]TJ EMC /P <>BDC T* [(uncomfortable)-17( with)-46( the)-22( result.)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 0 Tw 8.6897 0 0 8.6897 200.4828 492.8276 Tm (4)Tj ET q 1 0 0 1 200.4828 492.2069 cm 0 0 m 4.966 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 205.4483 489.1034 Tm [( It)-32( has)-35( submitted)-18( this)-32( issue)-19( to)-48( the)-22( Department)-11( of)-48( Finance)-31( which)-32( has)]TJ EMC /P <>BDC -13.706 -1.235 Td [(indicated)-57( that)-38( it)-29( is)-43( studying)-41( the)-22( issue.)-35( However,)-12( no)-6( amendment)-14( has)-35( been)-11( made)-28( to)-48( the)-22( statute)-57( to)]TJ EMC /P <>BDC 0 -1.235 TD [(date,)-11( more)-16( than)-54( 10)-6( years)-26( after)-58( the)-22( issue)-19( was)-45( raised)-42( for)-9( the)-22( first)-36( time)-52( in)-46( 2002.)]TJ EMC /P <>BDC 0 -2.471 TD [(In)-48( addition,)-43( there)-15( are)-26( certain)-58( advantages)-6( to)-48( the)-22( corporation)-57( holding)-11( the)-22( insurance)-18( policy)-32( and)-38( paying)]TJ EMC /P <>BDC 0 -1.235 TD [(the)-22( premiums,)-39( particularly)-48( the)-22( fact)-35( that)-38( the)-22( after)-58(-)-20(tax)-19( cost)-48( of)-48( the)-22( premiums)-23( is)-43( often)-11( lower)-23( to)-48( the)]TJ EMC /P <>BDC 0 -1.235 TD [(corporation)-57( than)-54( it)-29( would)-35( be)-6( to)-48( the)-22( shareholder.)]TJ EMC /P <>BDC 0 -2.471 TD [(The)-42( foregoing)-7( analysis)-35( is)-43( obviously)-8( general)-18( in)-45( nature)-47( and)-38( a)-32( more)-16( detailed)-27( assessment)-18( is)-43( advisable)]TJ EMC /P <>BDC 0 -1.235 TD [(for)-9( any)-35( individual)-8( who)-48( is)-43( in)-45( a)-32( position)-25( to)-48( transfer)-22( a)-32( personally)-31( owned)-54( policy)-32( to)-48( a)-32( corporation.)]TJ EMC /P <>BDC 0 Tw 0 -1.235 TD [(________________________________)-31( )]TJ EMC /P <>BDC 8.6897 0 0 8.6897 60.8276 327.1035 Tm (1)Tj EMC /P <>BDC 0.016 Tw 10.5517 0 0 10.5517 65.7931 323.3793 Tm [( Subsection)-53( 148\(7\))-51( of)-48( the)-22( )]TJ EMC /P <>BDC /TT1 1 Tf [(Income)-15( Tax)-39( Act)]TJ EMC /P <>BDC /TT0 1 Tf 18.765 0 Td [( \(\223ITA\224\).)-10( )]TJ EMC /P <>BDC 0 Tw 8.6897 0 0 8.6897 60.8276 291.7241 Tm (2)Tj EMC /P <>BDC 0.016 Tw 10.5517 0 0 10.5517 65.7931 288 Tm [( Subsection)-53( 148\(1\))-51( and)-38( paragraph)-30( 56\(1\)\(j\))-13( ITA.)-48( )]TJ EMC /P <>BDC 0 Tw 8.6897 0 0 8.6897 60.8276 256.3448 Tm (3)Tj EMC /P <>BDC 0.016 Tw 10.5517 0 0 10.5517 65.7931 252.6207 Tm [( Subsection)-53( 89\(1\))-19( \223capital)-12( dividend)-41( account\224)-47( d\))-52( ITA.)-48( )]TJ EMC /P <>BDC 0 Tw 8.6897 0 0 8.6897 60.8276 220.9655 Tm (4)Tj EMC /P <>BDC 0.016 Tw 10.5517 0 0 10.5517 65.7931 217.2414 Tm [( CRA,)-23( Technical)-15( Interpretation)-49( 2002)-11(-)-20(0127455,)-6( \223Non)-9( arm\222s)-27( length)-41( disposition\224)-2( \(May)-13( 7,)-48( 2002\);)-47( CRA,)]TJ EMC /P <>BDC -0.471 -1.235 Td [(Technical)-15( Interpretation)-49( 2003)-11(-)-20(0040145,)-6( \223Transfert)-19( d\222une)-25( police)-35( d\222assurance)-21(-)-20(vie\224)-36( \(October)-51( 6,)-48( 2003\);)]TJ EMC /P <>BDC T* [(ARC,)-23( Technical)-15( Interpretation)-49( 2008)-11(-)-20(0303971E5,)-19( \223Transfer)-3( of)-48( a)-32( life)-16( insurance)-18( policy\224)-52( \(May)-13( 27,)-22( 2009\).)]TJ EMC /P <>BDC /TT2 1 Tf 0 -2.471 TD [(CONSTRUCTIVE)-52( DISMISSAL)-26( ANALYZED)-27( IN THE CONTEXT)-45( OF)-23( A)-43( BUSINESS)-6( ACQUISITION)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 10.5517 0 0 10.5517 60.8276 152.069 Tm [(Guy)-48( Lavoie)]TJ ET q 1 0 0 1 60.8276 151.4483 cm 0 0 m 54.621 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT0 1 Tf 10.5517 0 0 10.5517 115.4483 152.069 Tm [( and)-38( )]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 10.5517 0 0 10.5517 139.6552 152.069 Tm [(\311lodie)-44( Brunet)]TJ ET q 1 0 0 1 139.6552 151.4483 cm 0 0 m 64.552 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT1 1 Tf 10.5517 0 0 10.5517 204.2069 152.069 Tm [( with)-45( the)-22( collaboration)-37( of)-48( Brittany)-22( Carson,)-28( articling)-26( student)]TJ EMC /P <>BDC /TT0 1 Tf -13.588 -2.706 Td [(In)-48( the)-22( case)-6( of)-48( )]TJ EMC /P <>BDC /TT1 1 Tf 0 Tw [(St)-55(-)-20(Hilaire)]TJ EMC /P <>BDC /TT0 1 Tf 0.016 Tw 10.706 0 Td [( c.)-45( )]TJ EMC /P <>BDC /TT1 1 Tf [(Nexxlink)-46( inc.)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 0 Tw 8.6897 0 0 8.6897 248.8965 127.2414 Tm (1)Tj ET q 1 0 0 1 248.8965 126.6207 cm 0 0 m 4.966 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 253.8621 123.5172 Tm [( the)-22( Court)-26( of)-48( Appeal)-5( of)-48( Qu\351bec)-27( analyzed)-57( the)-22( concept)-27( of)]TJ EMC /P <>BDC -18.294 -1.235 Td [(\223constructive)-38( dismissal\224)-27( in)-45( the)-22( specific)-19( context)-11( of)-48( a)-32( business)-54( acquisition.)]TJ EMC /P <>BDC 0 -2.471 TD [(In)-48( this)-32( case,)-22( Nexxlink)-45( was)-46( the)-22( subject)-8( of)-48( an)-6( acquisition)-41( that)-38( resulted)-31( in)-45( a)-32( series)-39( of)-48( changes)-44( to)-48( the)]TJ EMC ET endstream endobj 4 0 obj <>/Font<>/ProcSet[/PDF/Text]/ExtGState 246 0 R/XObject 247 0 R>>/Rotate 0/StructParents 24/Type/Page/Tabs/S>> endobj 5 0 obj [22 0 R 21 0 R] endobj 6 0 obj <>stream /CS0 cs 1 scn 36 766.552 576 -694.552 re f /P <>BDC q 36 72 576 695 re W n BT 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 60.8276 757.2414 Tm [(business,)-11( some)-26( of)-48( which)-32( affected)-30( the)-22( employment)-25( conditions)-27( of)-48( Mr.)-27( St)-55(-)-20(Hilaire.)-7( Believing)-2( that)-38( this)-32( had)]TJ ET EMC Q BT /P <>BDC 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 60.8276 744.2069 Tm [(resulted)-31( in)-46( substantial)-43( changes)-43( to)-48( the)-22( essential)-54( conditions)-27( of)-48( his)-16( employment)-25( contract,)-47( Mr.)-27( St)-55(-)-20(Hilaire)]TJ EMC /P <>BDC 0 -1.235 TD [(left)-19( his)-16( employment)-25( shortly)-55( after)-58( the)-22( transaction,)-7( alleging)-25( that)-38( he)-6( had)-38( been)-11( constructively)-2( dismissed.)]TJ EMC /P <>BDC 0 -1.235 TD [(He)-16( claimed)-26( $525,000)-6( in)-45( damages)-5( from Nexxlink.)]TJ EMC /P <>BDC 0 -2.471 TD [(The)-42( Court)-26( of)-48( Appeal)-5( affirmed)-35( the)-22( decision)-38( of)-48( the)-22( Superior)-44( Court,)-42( holding)-11( that)-38( Mr.)-27( St)-55(-)-20(Hilaire)-49( had)-38( not)]TJ EMC /P <>BDC 0 -1.235 TD [(been)-11( constructively)-2( dismissed.)]TJ EMC /P <>BDC 0 -2.471 TD [(According)-25( to)-48( the)-22( criteria)-59( laid)-32( down)-22( by)-3( the)-22( Supreme)-2( Court)-26( of)-48( Canada,)-43( constructive)-18( dismissal)-7( involves)]TJ EMC /P <>BDC 0 -1.235 TD [([translation])-7( \2231\))-13( a)-32( unilateral)-2( decision)-38( by)-3( the)-22( employer,)-22( 2\))-52( a)-32( substantial)-43( change)-14( or)-52( changes)-44( to)-48( the)]TJ EMC /P <>BDC 0 -1.235 TD [(essential)-54( terms)-29( of)-48( the)-22( employment)-24( contract,)-47( 3\))-52( the)-22( employee\222s)-2( refusal)-58( of)-48( the)-22( changes,)-1( and)-38( 4\))-52( the)]TJ EMC /P <>BDC 0 -1.471 TD [(employee\222s)-2( departure.\224)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 0 Tw 8.6897 0 0 8.6897 169.4483 615.1035 Tm (2)Tj ET /CS1 CS 0 0 1 SCN 0.621 w q 1 0 0 1 169.4483 614.4828 cm 0 0 m 4.966 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 174.4138 611.3793 Tm [( These)-44( criteria)-59( are)-26( assessed)-11( from the)-22( perspective)-5( of)-48( a)-32( reasonable)-53( person)]TJ EMC /P <>BDC -10.765 -1.471 Td [(placed)-54( in)-45( the)-22( same)-26( situation.)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 0 Tw 8.6897 0 0 8.6897 197.3793 599.5862 Tm (3)Tj ET q 1 0 0 1 197.3793 598.9656 cm 0 0 m 4.966 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 60.8276 569.7931 Tm [(In)-48( the)-22( context)-11( of)-48( the)-22( transaction)-50( in)-45( this)-32( case,)-22( the)-22( change)-14( in)-46( the)-22( title)-32( of)-48( Mr.)-26( St)-55(-)-20(Hilaire\222s)-33( position)-25( from)]TJ EMC /P <>BDC /TT1 1 Tf 0 -1.235 TD [(vice)-45(-)-20(president,)-21( business)-54( development)-40( to)-48( vice)-46(-)-20(president,)-21( infrastructure)-47( equipment)-37( sales)]TJ EMC /P <>BDC /TT0 1 Tf 38.824 0 Td [( did)-19( not)]TJ EMC /P <>BDC -38.824 -1.235 Td [(amount)-18( to)-48( a)-32( substantial)-43( change)-14( in)-46( his)-16( employment)-25( conditions)-27( nor)-26( a)-32( demotion,)-21( but)-22( rather)-35( a)-32( change)-14( in)]TJ EMC /P <>BDC T* [(the)-22( organization)-24( of)-48( the)-22( business,)-11( which)-32( was)-45( within)-32( the)-22( management)-46( rights)-26( of)-48( Nexxlink.)]TJ EMC /P <>BDC 0 -2.471 TD [(With respect)-15( to)-48( the)-22( changes)-43( alleged)-11( by)-3( Mr.)-26( St)-55(-)-20(Hilaire)-49( to)-48( his)-16( responsibilities)-31( and)-38( target)-31( market,)-19( these)]TJ EMC /P <>BDC 0 -1.235 TD [(were)-9( only)-48( fears.)-28( In)-48( the)-22( context)-11( of)-48( a)-32( business)-54( acquisition,)-57( some)-26( of)-48( the)-22( senior)-42( executives\222)-54( duties)-38( may)]TJ EMC /P <>BDC T* [(be)-6( changed)-46( or)-52( clarifi)-20( ed)-6( over)-55( time:)-9( [translation])-7( \223a)-52( period)-44( of)-48( uncertainty)-50( or)-52( adjustment)-50( is)-43( entirely)]TJ EMC /P <>BDC 0 -1.235 TD [(foreseeable\224.)-46( According)-24( to)-48( the)-22( Court,)-42( a)-32( reasonable)-53( person)-2( placed)-54( in)-45( the)-22( same)-26( context)-11( as)-3( Mr.)-27( St)-55(-)]TJ EMC /P <>BDC 0 -1.235 TD [(Hilaire)-49( could)-22( have)-8( foreseen)-50( that)-38( he)-6( would)-35( have)-8( retained)-34( his)-16( client)-19( accounts,)-14( and)-38( that)-38( various)]TJ EMC /P <>BDC 0 -1.235 TD [(opportunities)-40( could)-22( be)-6( expected)-1( within)-32( the)-22( new)-48( business.)]TJ EMC /P <>BDC 0 -2.471 TD [(With regard)-51( to)-48( Mr.)-27( St)-55(-)-20(Hilaire\222s)-33( compensation,)-26( it)-29( consisted)-11( primarily)-46( of)-48( a)-32( base)-8( salary)-39( of)-48( $170,000,)-23( a)]TJ EMC /P <>BDC 0 -1.235 TD [($40,000)-33( bonus)-41( plan,)-8( and)-38( 20,000)-1( stock)-19( options)-11( at)-48( the)-22( time)-52( he)-6( started)-2( his)-16( employment.)]TJ EMC /P <>BDC 0 -2.471 TD [(Contrary)-48( to)-48( Mr.)-27( St)-55(-)-20(Hilaire\222s)-33( allegations,)-60( the)-22( Court)-26( found)-27( that)-38( the)-22( criteria)-59( for)-9( awarding)-2( the)-22( annual)]TJ EMC /P <>BDC 0 -1.235 TD [(bonus)-41( had)-38( not)-22( been)-11( substantially)-27( changed.)-4( Moreover,)-28( even)-8( if)-29( this)-32( had)-38( been)-11( the)-22( case,)-22( his)]TJ EMC /P <>BDC 0 -1.235 TD [(employment)-25( contract)-31( expressly)-12( stated)-41( that)-38( the)-22( bonus)-41( plan)-51( could)-22( be)-6( changed)-46( simply)-49( upon)-11( the)]TJ EMC /P <>BDC 0 -1.235 TD [(approval)-47( of)-48( the)-22( board)-31( of)-48( directors.)-6( As)-9( for)-9( the)-22( cancellation)-14( of)-48( the)-22( stock)-19( options,)-27( even)-8( if)-29( this)-32( could)-22( be)]TJ EMC /P <>BDC 0 -1.235 TD [(considered)-50( to)-48( be)-6( a)-32( reduction)-5( in)-45( Mr.)-26( St)-55(-)-20(Hilaire\222s)-33( compensation,)-26( he)-6( never)-28( complained)-5( about)-27( it)-29( before)]TJ EMC /P <>BDC T* [(leaving)-8( the)-22( company.)-18( According)-25( to)-48( the)-22( Court,)-42( Mr.)-26( St)-55(-)-20(Hilaire)-49( undoubtedly)-23( did)-19( not)-22( feel)-35( that)-38( this)-32( was)-45( an)]TJ EMC /P <>BDC 0 -1.235 TD [(essential)-54( condition.)]TJ EMC /P <>BDC 0 -2.471 TD [(In)-48( conclusion,)-57( the)-22( Court)-26( of)-48( Appeal)-5( found)-27( that)-38( Mr.)-27( St)-55(-)-20(Hilaire)-49( was)-45( aware)-42( of)-48( the)-22( role)-39( that)-38( was)-45( reserved)]TJ EMC /P <>BDC 0 -1.235 TD [(for)-9( him)-36( in)-45( the)-22( new)-48( business.)-11( The)-42( structure)-51( he)-6( complained)-5( of)-48( was)-45( temporary)-28( and)-38( uncertain.)-21( In)-48( the)]TJ EMC /P <>BDC 0 -1.235 TD [(context)-11( of)-48( this)-32( transaction,)-7( the)-22( allegations)-43( of)-48( constructive)-18( dismissal)-7( were)-9( ill)-40( founded.)]TJ EMC /P <>BDC 0 -2.471 TD [(The)-42( interest)-15( of)-48( this)-32( decision)-38( lies)-29( in)-45( the)-22( fact)-35( that)-38( it)-29( relativizes)-26( the)-22( concept)-27( of)-48( constructive)-18( dismissal)-7( in)]TJ EMC /P <>BDC 0 -1.235 TD [(the)-22( specific)-19( context)-11( of)-48( a)-32( business)-54( acquisition,)-57( in)-45( addition)-27( to)-48( reiterating)-25( the)-22( principle)-42( that)-38( the)-22( structure)]TJ EMC /P <>BDC 0 -1.235 TD [(of)-48( a)-32( business)-54( is)-43( not)-22( bound)-43( to)-48( remain)-3( static.)]TJ EMC /P <>BDC 0 Tw 0 -1.235 TD [(________________________________)-31( )]TJ EMC /P <>BDC 8.6897 0 0 8.6897 60.8276 147.1035 Tm (1)Tj EMC /P <>BDC 0.016 Tw 10.5517 0 0 10.5517 65.7931 143.3793 Tm [( 2012)-11( QCCA)-52( 1513)-11( \(C.A.\)\(affi)-16( rming)-29( 2010)-11( QCCS)-52( 2276)-11( \(S.C.\)\).)-13( )]TJ EMC /P <>BDC 0 Tw 8.6897 0 0 8.6897 60.8276 111.7242 Tm (2)Tj EMC /P <>BDC 10.5517 0 0 10.5517 65.7931 108 Tm ( )Tj EMC /P <>BDC /TT1 1 Tf 0.294 0 Td (Id)Tj EMC /P <>BDC /TT0 1 Tf 0.016 Tw 0.882 0 Td [(.,)-32( para.)-15( 29,)-22( citing)-19( )]TJ EMC /P <>BDC /TT1 1 Tf 0 Tw (Farber)Tj EMC /P <>BDC /TT0 1 Tf 0.016 Tw 10.824 0 Td [( v.)-45( )]TJ EMC /P <>BDC /TT1 1 Tf [(Royal)-32( Trust)-16( Co.)]TJ EMC /P <>BDC /TT0 1 Tf 8.471 0 Td [(,)-16( [1997])-44( 1)-32( S.C.R.)-55( 846)-38( \(hereinafter)-5( \223)]TJ EMC /P <>BDC /TT1 1 Tf 0 Tw 15.647 0 Td (Farber)Tj EMC /P <>BDC /TT0 1 Tf 3 0 Td [(\224\).)-56( )]TJ EMC /P <>BDC 8.6897 0 0 8.6897 60.8276 76.3448 Tm (3)Tj EMC ET endstream endobj 7 0 obj <>/Font<>/ProcSet[/PDF/Text]/ExtGState 270 0 R/XObject 271 0 R>>/Rotate 0/StructParents 31/Type/Page/Tabs/S>> endobj 8 0 obj [23 0 R] endobj 9 0 obj <>stream /CS0 cs 1 scn 36 766.552 576 -694.552 re f /P <>BDC q 36 72 576 695 re W n BT 0 scn /TT0 1 Tf 10.5517 0 0 10.5517 65.7931 757.2415 Tm ( )Tj ET EMC /P <>BDC BT /TT1 1 Tf 10.5517 0 0 10.5517 68.8966 757.2415 Tm (Farber)Tj ET EMC /P <>BDC BT /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 100.5517 757.2415 Tm [(,)-16( para.)-15( 26.)]TJ ET EMC Q BT /P <>BDC 0 scn /TT2 1 Tf 0.016 Tw 10.5517 0 0 10.5517 60.8276 731.1725 Tm [(THE RIGHT)-7( OF)-23( WITHDRAWAL,)-18( A)-43( CONTROLLED)-56( FORM)-56( OF)-23( CONTRACTUAL)-41( FREEDOM)]TJ EMC /P <>BDC /TT0 1 Tf 0 -1.235 TD [(Catherine)-18( M\351thot)]TJ EMC /P <>BDC 0 -2.471 TD [(The)-42( right)-55( of)-48( withdrawal,)-58( also)-48( referred)-28( to)-48( as)-3( an)-6( \223opting)-2( out\224)-42( clause,)-8( is)-43( the)-22( right)-55( given)-22( contractually)-34( or)]TJ EMC /P <>BDC 0 -1.235 TD [(by)-3( law)-29( to)-48( a)-32( party)-12( to)-48( withdraw)-55( from a)-32( transaction)-50( without)-8( justifi)-16( cation)-38( prior)-59( to)-48( it)-29( being)-25( actually)-22( entered)]TJ EMC /P <>BDC 0 -1.235 TD [(into.)-51( Although)-53( the)-22( withdrawal)-42( clause)-51( may)-52( procure)-22( a)-32( high)-51( degree)-5( of)-48( freedom,)-54( one)-38( cannot)-57( invoke)-51( it)-29( in)]TJ EMC /P <>BDC T* [(a)-32( cavalier)-26( manner.)-38( Indeed,)-17( a)-32( withdrawal)-42( clause)-51( cannot)-57( be)-6( used)-8( in)-45( a)-32( malicious)-9( or)-52( abusive)-24( manner,)]TJ EMC /P <>BDC 0 -1.235 TD [(nor)-26( can)-35( it)-29( run)-26( against)-11( the)-22( requirements)-47( of)-48( good)-11( faith.)-8( Furthermore,)-44( to)-48( be)-6( valid)-3( and)-38( effective,)-57( a)]TJ EMC /P <>BDC 0 -1.235 TD [(withdrawal)-42( clause)-51( must)-9( be)-6( enforceable)-10( and)-38( explicit.)]TJ EMC /P <>BDC 0 -2.471 TD [(The)-42( Court)-26( of)-48( Appeal)-5( of)-48( Qu\351bec)-27( recently)-28( reminded)-8( us)-3( of)-48( these)-25( principles)-12( in)-45( the)-22( case)-6( of)-48( )]TJ EMC /P <>BDC /TT1 1 Tf 0 Tw (London)Tj EMC /P <>BDC /TT0 1 Tf 0.016 Tw 42.294 0 Td ( v.)Tj EMC /P <>BDC /TT1 1 Tf 0 Tw -42.294 -1.471 Td (Kyriacou)Tj EMC /P <>BDC /TT0 1 Tf 3.941 0 Td (.)Tj EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT0 1 Tf 8.6897 0 0 8.6897 105.5172 589.0345 Tm (1)Tj ET /CS1 CS 0 0 1 SCN 0.621 w q 1 0 0 1 105.5172 588.4138 cm 0 0 m 4.966 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 110.4828 585.3104 Tm [( In)-48( this)-32( case,)-22( the)-22( owners)-12( of)-48( a)-32( day)-35(-)-20(care)-55( centre)-44( \(the)-42( \223)]TJ EMC /P <>BDC /TT2 1 Tf 0 Tw 23.176 0 Td (Sellers)Tj EMC /P <>BDC /TT0 1 Tf 0.016 Tw 3.294 0 Td [(\224\))-40( accepted)-1( from Mrs.)-56( Kyriacou)]TJ EMC /P <>BDC -31.176 -1.235 Td [(and)-38( Mrs.)-56( Teologou)-7( \(the)-42( \223)]TJ EMC /P <>BDC /TT2 1 Tf 0 Tw 11.176 0 Td (Purchasers)Tj EMC /P <>BDC /TT0 1 Tf 0.016 Tw 5.471 0 Td [(\224\))-40( an)-6( offer)-58( to)-48( purchase)-5( the)-22( daycare)-31( centre.)-2( The)-42( sale)-48( was)]TJ EMC /P <>BDC -16.647 -1.235 Td [(initially)-59( scheduled)-30( to)-48( take)-51( place)-22( on)-6( September)-50( 29,)-22( 2006.)-27( This)-52( date)-54( was)-46( thereafter)-14( postponed)-36( several)]TJ EMC /P <>BDC 0 -1.235 TD [(times)-23( and)-38( the)-22( terms)-29( of)-48( the)-22( offer)-58( were)-9( also)-48( amended)-7( on)-6( several)-12( occasions)-25( as)-3( the)-22( months)-15( went)-6( by.)]TJ EMC /P <>BDC 0 -1.235 TD [(Among)-8( other)-15( things,)-54( the)-22( parties)-58( agreed)-5( to)-48( increase)-45( the)-22( sale)-48( price)-9( by)-3( $150,000.00)-28( conditionally)-27( to)-48( the)]TJ EMC /P <>BDC 0 -1.235 TD [(day)-35(-)-20(care)-55( centre)-44( being)-24( granted)-21( a)-32( government)-14( subsidy)-22( within)-32( 15)-6( months)-15( from the)-22( date)-54( of)-48( the)-22( sale.)-6( As)]TJ EMC /P <>BDC T* [(soon)-8( as)-3( autumn)-18( 2006,)-27( the)-22( Sellers)-3( introduced)-37( the)-22( Purchasers)-2( to)-48( the)-22( parents)-18( of)-48( the)-22( children)-28( attending)]TJ EMC /P <>BDC 0 -1.235 TD [(the)-22( day)-35(-)-20(care)-55( centre)-44( as)-3( being)-25( the)-22( new)-48( owners)-12( of)-48( the)-22( facility)-46( from January)-31( 2007.)-27( In)-48( May)-52( 2007,)-27( the)]TJ EMC /P <>BDC 0 -1.235 TD [(Purchasers)-2( began)-44( operating)-7( the)-22( day)-35(-)-20(care)-55( centre)-45( and)-38( acting)-38( like)-29( true)-42( owners,)-28( particularly)-48( by)-3( having)]TJ EMC /P <>BDC 0 -1.235 TD [(repairs)-3( made)-28( at)-48( their)-55( own)-48( cost)-48( and)-38( establishing)-14( a)-32( new)-48( educational)-4( program.)-58( From)-20( May)-52( 2007,)-27( the)]TJ EMC /P <>BDC 0 -1.235 TD [(parties)-58( exchanged)-49( several)-12( draft)-58( sale)-48( agreements)-14( and)-38( the)-22( transaction)-50( was)-45( to)-48( take)-51( place)-22( in)-45( August)]TJ EMC /P <>BDC T* [(2007.)-27( However,)-12( on)-6( August)-5( 10,)-22( 2007,)-27( following)-51( receipt)-58( of)-48( a)-32( letter)-12( from government)-14( authorities)-34( confi)]TJ EMC /P <>BDC T* [(rming)-29( that)-38( the)-22( day)-35(-)-20(care)-55( centre)-44( would)-35( be)-6( subsidized)-41( beginning)-17( in)-46( March)-45( 2008,)-27( the)-22( Sellers)-3( notifi)-6( ed)]TJ EMC /P <>BDC 0 -1.235 TD [(the)-22( Purchasers)-2( that)-38( they)-51( were)-9( withdrawing)-15( from the)-22( negotiations.)-36( They)-12( also)-48( changed)-46( the)-22( locks)-16( of)-48( the)]TJ EMC /P <>BDC 0 -1.235 TD [(day)-35(-)-20(care)-55( centre)-44( and)-38( denied)-57( access)-6( thereof)-5( to)-48( the)-22( Purchasers.)]TJ EMC /P <>BDC 0 -2.471 TD [(The)-42( Purchasers)-2( brought)-21( a)-32( motion)-58( for)-9( the)-22( transfer)-22( of)-48( title)-32( before)-47( the)-22( Superior)-44( Court)-26( of)-48( Qu\351bec)-27( to)]TJ EMC /P <>BDC 0 -1.235 TD [(force)-12( the)-22( Sellers)-3( to)-48( carry)-13( out)-22( the)-22( transaction.)-7( The)-42( Sellers)-3( opposed)-46( the)-22( motion,)-15( among)-2( other)-15( things)]TJ EMC /P <>BDC 0 -1.235 TD [(alleging)-25( that)-38( the)-22( initial)-16( offer)-58( to)-48( purchase)-5( included)-41( an)-6( opting)-41(-)-20(out)-22( clause,)-8( which)-32( they)-51( were)-9( entitled)-11( to)]TJ EMC /P <>BDC 0 -1.235 TD [(rely)-36( upon.)-27( The)-42( clause)-51( read)-58( as)-3( follows:)-19( \223After)-26( due)-38( diligence)-54( is)-43( said)-48( and)-38( done)-11( and)-38( all)-59( conditions)-27( have)]TJ EMC /P <>BDC 0 -1.235 TD [(been)-11( agreed)-5( upon,)-27( if)-29( one)-38( of)-48( the)-22( parties\222)-12( purchaser)-25( or)-52( vendor)-2( refuse)-44( to)-48( go)-6( ahead)-43( the)-22( other)-15( will)-24( be)]TJ EMC /P <>BDC 0 -1.235 TD [(liable)-19( for)-9( professional)-21( fees)-51( occurred.\224)]TJ EMC /P <>BDC 0 -2.471 TD [(In)-48( the)-22( first)-36( instance,)-57( the)-22( Superior)-45( Court)-26( refused)-18( to)-48( apply)-22( the)-22( clause)-51( because)-43( the)-22( Sellers)-3( had)-38( acted)-25( in)]TJ EMC /P <>BDC 0 -1.235 TD [(bad)-38( faith)-51( all)-59( along)-25( the)-22( negotiation)-49( process,)-44( that)-38( further,)-8( the)-22( clause)-51( was)-46( not)-22( explicit)-3( and)-38( that)-38( had)-38( it)]TJ EMC /P <>BDC T* [(been)-11( explicit,)-19( the)-22( Sellers,)-19( by)-3( their)-55( actions)-8( \(particularly)-9( by)-3( encouraging)-26( the)-22( respondents)-26( to)-48( operate)-21( the)]TJ EMC /P <>BDC 0 -1.235 TD [(day)-35(-)-20(care)-55( centre)-44( and)-38( the)-22( substance)-30( of)-48( the)-22( discussions)-8( on)-6( the)-22( sale)-48( agreement\))-5( waived)-6( its application.)]TJ EMC /P <>BDC 0 -1.235 TD [(The)-42( Superior)-44( Court)-25( found)-27( from the)-22( evidence)-57( that)-38( all)-59( the)-22( conditions)-27( mentioned)-37( in)-45( the)-22( original)-12( offer)]TJ EMC /P <>BDC T* [(had)-38( been)-11( satisfied)-38( and)-38( that)-38( there)-15( had)-38( been)-11( an)-6( agreement)-43( on)-6( all)-59( the)-22( new)-48( elements)-2( raised)-42( thereafter)]TJ EMC /P <>BDC 0 -1.235 TD [(by)-3( the)-22( Sellers.)-19( In)-48( short,)-28( the)-22( terms)-29( of)-48( the)-22( transaction)-50( had)-38( been)-11( agreed)-5( upon)-11( by)-3( the)-22( parties)-58( and)-38( it)-29( only)]TJ EMC /P <>BDC 0 -1.235 TD [(remained)-8( to)-48( make)-26( it)-29( offi)-19( cial)-29( by)-3( executing)-14( an)-6( agreement.)-1( The)-42( Superior)-44( Court)-26( therefore)-57( ordered)-25( the)]TJ EMC /P <>BDC 0 -1.235 TD [(parties)-58( to)-48( sign)-48( the)-22( agreement)-44( and)-38( the)-22( Court)-26( of)-48( Appeal)-5( affirmed)-35( that)-38( decision.)]TJ EMC /P <>BDC 0 -2.471 TD [(Although)-53( including)-54( an)-6( opting)-41(-)-20(out)-22( clause)-51( in)-45( a)-32( contract)-31( or)-52( a)-32( letter)-12( of)-48( offer)-58( may)-52( constitute)-14( a)-32( very)]TJ EMC /P <>BDC 0 -1.235 TD [(attractive)-2( strategy,)-47( the)-22( decision)-38( summarized)-25( in)-45( this)-32( bulletin)-8( articulates)-31( the)-22( importance)-54( of)-48( carefully)]TJ EMC /P <>BDC 0 -1.235 TD [(drafting)-18( it)-29( and)-38( demonstrates)-1( that)-38( one)-38( is)-43( better)-31( to)-48( consult)-8( a)-32( professional)-21( before)-47( relying)-55( on)-6( it.)]TJ EMC /P <>BDC 0 Tw T* [(________________________________)-31( )]TJ EMC /P <>BDC 8.6897 0 0 8.6897 60.8276 84.4139 Tm (1)Tj EMC /P <>BDC 0.016 Tw 10.5517 0 0 10.5517 65.7931 80.6897 Tm [( 2013)-11( QCCA)-52( 37.)]TJ EMC ET endstream endobj 10 0 obj <>/Font<>/ProcSet[/PDF/Text]/ExtGState 294 0 R/XObject 295 0 R>>/Rotate 0/StructParents 38/Type/Page/Tabs/S>> endobj 11 0 obj [24 0 R 25 0 R] endobj 12 0 obj <>stream /CS0 cs 1 scn 36 766.552 576 -694.552 re f BT /P <>BDC 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 60.8276 744.207 Tm [(TRANSFERS)-7( OF)-23( RESIDENCES)-28( INVOLVING)-28( A)-43( SPOUSAL)-48( TESTAMENTARY)-13( TRUST)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT1 1 Tf 10.5517 0 0 10.5517 60.8276 731.1725 Tm [(Diana)-35( Darilus)]TJ ET /CS1 CS 0 0 1 SCN 0.621 w q 1 0 0 1 60.8276 730.5518 cm 0 0 m 63.931 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT1 1 Tf 10.5517 0 0 10.5517 60.8276 705.1035 Tm [(The)-42( sale)-48( of)-48( a)-32( house)-41( by)-3( a)-32( spousal)-25( testamentary)-43( trust)-55( and)-38( the)-22( purchase)-5( of)-48( a)-32( new)-48( residence)-18( in)]TJ EMC /P <>BDC 0 -1.235 TD [(replacement)-27( of)-48( the)-22( former)-52( may)-52( result)-26( in)-46( adverse)-31( tax)-19( consequences)-23( if)-29( all)-59( required)-38( precautions)-7( are)-26( not)]TJ EMC /P <>BDC 0 -1.235 TD [(taken)-25( prior)-59( to)-48( the)-22( fact.)]TJ EMC /P <>BDC /TT0 1 Tf 0 -2.471 TD [(EXEMPTION)-51( FOR)-7( PRINCIPAL)-23( RESIDENCE)]TJ EMC /P <>BDC /TT1 1 Tf 0 -2.471 TD [(When)-35( a)-32( spousal)-25( testamentary)-43( trust)-55( gains)-22( possession)-57( of)-48( a)-32( house)-41( following)-51( the)-22( death)-27( of)-48( a)-32( taxpayer)]TJ EMC /P <>BDC 0 -1.235 TD [(and)-38( thereafter)-14( wishes)-3( to)-48( dispose)-25( of)-48( it,)-45( the)-22( availability)-35( of)-48( the)-22( principal)-42( residence)-18( exemption)-34( to)-48( reduce)]TJ EMC /P <>BDC 0 -1.235 TD [(the)-22( taxable)-11( capital)-51( gain)-51( resulting)-45( from the)-22( transfer)-22( must)-9( be)-6( ascertained.)]TJ EMC /P <>BDC 0 -2.706 TD [(Furthermore,)-44( the)-22( tax)-19( act)]TJ EMC ET /Link <>BDC BT /CS1 cs 0 0 1 scn /TT1 1 Tf 0 Tw 8.6897 0 0 8.6897 175.0345 576.0001 Tm (1)Tj ET q 1 0 0 1 175.0345 575.3794 cm 0 0 m 4.966 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT1 1 Tf 0.016 Tw 10.5517 0 0 10.5517 180 572.2759 Tm [( provides)-44( for)-9( certain)-58( presumptions)-57( when)-22( a)-32( taxpayer)-47( disposed)-57( of)-48( a)-32( house)-41( in)]TJ EMC /P <>BDC -11.294 -1.235 Td [(favour)-44( of)-48( a)-32( spousal)-25( testamentary)-44( trust)-55( through)-21( a)-32( tax)-19( rollover)-16( upon)-11( death)-27( so)-3( the)-22( trust)-55( can)-35( benefit)-57( from)]TJ EMC /P <>BDC 0 -1.235 TD [(the)-22( principal)-42( residence)-18( exemption)-34( for)-9( the)-22( years)-25( during)-44( which)-32( the)-22( deceased)-17( taxpayer)-47( owned)-54( the)]TJ EMC /P <>BDC 0 Tw 0 -1.235 TD (house.)Tj EMC /P <>BDC 0.016 Tw 0 -2.471 TD [(Generally)-15( a)-32( spousal)-25( testamentary)-43( trust)-55( may)-52( benefit)-57( from the)-22( principal)-42( residence)-18( exemption)-34( upon)-11( the)]TJ EMC /P <>BDC 0 -1.235 TD [(sale)-48( of)-48( the)-22( house)-41( for)-9( all)-59( the)-22( years)-26( during)-44( which)-32( the)-22( deceased)-17( taxpayer)-47( or)-52( the)-22( trust)-55( itself)-3( owned)-54( it,)-45( to)]TJ EMC /P <>BDC 0 -1.235 TD [(the)-22( extent)-41( that)-38( several)-12( conditions)-27( are)-26( met.)]TJ EMC /P <>BDC 0 -2.471 TD [(One)-51( of)-48( these)-24( conditions)-27( is)-43( that)-38( when)-22( the)-22( trust)-55( was)-46( the)-22( owner)-42( of)-48( the)-22( residence,)-34( the)-22( residence)-18( must)]TJ EMC /P <>BDC 0 -1.235 TD [(have)-8( been)-11( ordinarily)-3( inhabited)-60( by)-3( a)-32( )]TJ EMC /P <>BDC /TT2 1 Tf [(specified)-54( beneficiary)]TJ EMC /P <>BDC /TT1 1 Tf 25.176 0 Td [(,)-16( by)-3( the)-22( spouse)-11( or)-52( common)-48(-)-20(law)-29( partner)-8( or)]TJ EMC /P <>BDC -25.176 -1.235 Td [(the)-22( former)-52( spouse)-11( or)-52( common)-48(-)-20(law)-29( partner)-8( of)-48( such)-6( beneficiary)-47( or)-52( a)-32( child)-3( of)-48( such)-6( beneficiary.)-5( )]TJ EMC /P <>BDC /TT2 1 Tf 0 Tw (A)Tj EMC /P <>BDC 0.016 Tw 0 -1.235 TD [(specified)-54( beneficiary)]TJ EMC /P <>BDC /TT1 1 Tf 9.176 0 Td [( generally)-2( means)-58( any)-35( person)-2( benefi)-41( cially)-13( interested)-21( in)-45( the)-22( trust)-55( who)-48( ordinarily)]TJ EMC /P <>BDC -9.176 -1.235 Td [(inhabited)-60( the)-22( housing)-27( unit)-35( \(or)-13( has)-35( a)-32( spouse)-11( or)-52( common)-48(-)-20(law)-29( partner)-8( or)-52( former)-52( spouse)-11( or)-52( common)-48(-)]TJ EMC /P <>BDC T* [(law)-29( partner)-8( or)-52( a)-32( child)-3( who)-48( ordinarily)-3( inhabited)-60( the)-22( housing)-27( unit\).)]TJ EMC /P <>BDC 0 -2.471 TD [(Furthermore,)-44( prior)-59( to)-48( designating)-4( the)-22( house)-41( as)-3( principal)-42( residence)-18( for)-9( the)-22( years)-26( of)-48( ownership)-31( by)-3( the)]TJ EMC /P <>BDC 0 -1.235 TD [(deceased)-17( taxpayer)-47( while)-16( he)-6( or)-52( she)-35( was)-46( living)-16( or)-52( by)-3( the)-22( trust)-55( itself,)-19( the)-22( trust)-55( must)-9( also)-48( ascertain)-2( that)]TJ EMC /P <>BDC 0 Tw 0 -1.235 TD [(no)-6( )]TJ EMC /P <>BDC /TT2 1 Tf 0.016 Tw 1.412 0 Td [(principal)-42( residence)]TJ EMC /P <>BDC /TT1 1 Tf 8.412 0 Td [( designation)-4( on)-6( another)-21( property)-38( has)-35( been)-11( made)-28( in)-45( respect)-15( of)-48( these)-25( years,)]TJ EMC /P <>BDC -9.824 -1.235 Td [(neither)-2( by)-3( the)-22( deceased)-17( person)-2( or)-52( his)-16( or)-52( her)-26( family)-36( unit,)-51( nor)-26( by)-3( a)-32( specified)-54( beneficiary)-47( or)-52( his)-16( or)-52( her)]TJ EMC /P <>BDC 0 -1.235 TD [(family)-36( unit.)]TJ EMC /P <>BDC /TT0 1 Tf 0 -2.471 TD [(MAINTENANCE)-24( OF)-23( TESTAMENTARY)-13( TRUST)-20( STATUS)]TJ EMC /P <>BDC /TT1 1 Tf T* [(In)-48( the)-22( context)-11( of)-48( a)-32( transaction)-50( for)-9( the)-22( sale)-48( and)-38( purchase)-5( of)-48( residences)-47( involving)-51( a)-32( testamentary)]TJ EMC /P <>BDC 0 -1.235 TD [(trust,)-12( one)-38( must)-9( be)-6( careful)-58( not)-22( to)-48( jeopardize)-34( the)-22( )]TJ EMC /P <>BDC /TT2 1 Tf [(testamentary)-43( trust)]TJ EMC /P <>BDC /TT1 1 Tf 29.412 0 Td [( status)-38( of)-48( this)-32( trust,)-12( which)-32( benefits)]TJ EMC /P <>BDC -29.412 -1.235 Td [(from taxation)-27( at)-48( progressive)-8( rates.)]TJ EMC /P <>BDC 0 -2.471 TD [(Therefore,)-34( in)-45( order)-19( to)-48( retain)-28( its )]TJ EMC /P <>BDC /TT2 1 Tf [(testamentary)-44( trust)]TJ EMC /P <>BDC /TT1 1 Tf 22.118 0 Td [( status,)-54( no)-6( item)-52( of)-48( property)-38( must)-9( be)-6( contributed)-53( to)]TJ EMC /P <>BDC -22.118 -1.235 Td [(the)-22( trust)-55( otherwise)-15( than)-54( by)-3( an)-6( individual)-8( on)-6( or)-52( after)-58( his)-16( or)-52( her)-26( death)-27( and)-38( as)-3( a)-32( consequence)-52( thereof.)]TJ EMC /P <>BDC 0 -1.235 TD [(The)-42( trust)-55( could)-22( then)-54( lose)-48( its )]TJ EMC /P <>BDC /TT2 1 Tf [(testamentary)-43( trust)]TJ EMC /P <>BDC /TT1 1 Tf 20.941 0 Td [( status)-38( and)-38( related)-2( tax)-19( benefits)-27( if,)-45( for)-9( example,)-2( it)-29( does)]TJ EMC /P <>BDC -20.941 -1.235 Td [(not)-22( deal)-51( at)-48( the)-22( fair)-23( market)-3( value)-22( when)-22( acquiring)-2( the)-22( new)-48( residence:)-34( the)-22( seller)-23( may)-52( be)-6( considered)-50( as)]TJ EMC /P <>BDC T* [(having)-54( made)-28( a)-32( contribution)-7( equal)-25( to)-48( the)-22( excess)-6( of)-48( the)-22( fair)-23( market)-3( value)-22( of)-48( the)-22( property)-38( over)-55( the)-22( fair)]TJ EMC /P <>BDC T* [(market)-3( value)-22( of)-48( the)-22( consideration)-53( paid)-51( by)-3( the)-22( trust.)]TJ EMC /P <>BDC 0 -2.471 TD [(Subject)-18( to)-48( certain)-58( exceptions,)-1( the)-22( )]TJ EMC /P <>BDC /TT2 1 Tf [(testamentary)-44( trust)]TJ EMC /P <>BDC /TT1 1 Tf 23.353 0 Td [( status)-38( of)-48( the)-22( trust)-55( may)-52( also)-48( be)-6( lost)-32( if)-29( the)-22( trust)]TJ EMC /P <>BDC -23.353 -1.235 Td [(incurs)-39( a)-32( debt)-54( or)-52( any)-35( other)-15( obligation)-14( owed)-22( to,)-6( or)-52( guaranteed)-59( by,)-19( a)-32( beneficiary)-47( of)-48( the)-22( trust)-55( \(for)]TJ EMC /P <>BDC 0 -1.235 TD [(example,)-2( the)-22( spouse)-11( of)-48( the)-22( deceased)-17( person\))-22( or)-52( another)-21( person)-2( with)-45( whom)-39( a)-32( beneficiary)-47( of)-48( the)-22( trust)]TJ EMC /P <>BDC 0 -1.235 TD [(does)-8( not)-22( deal)-51( at)-48( arm\222s)-27( length.)]TJ EMC ET endstream endobj 13 0 obj <>/Font<>/ProcSet[/PDF/Text]/ExtGState 318 0 R/XObject 319 0 R>>/Rotate 0/StructParents 45/Type/Page/Tabs/S>> endobj 14 0 obj <>stream /CS0 cs 1 scn 36 766.552 576 -151.448 re f BT /P <>BDC 0 scn /TT0 1 Tf 10.5517 0 0 10.5517 60.8276 744.207 Tm (CONCLUSION)Tj EMC /P <>BDC /TT1 1 Tf 0.016 Tw 0 -2.471 TD [(The)-42( tax)-19( consequences)-23( of)-48( transactions)-21( involving)-51( real)-39( property)-38( transferred)-47( by)-3( or)-52( to)-48( a)-32( spousal)]TJ EMC /P <>BDC 0 -1.235 TD [(testamentary)-43( trust)-55( should)-54( always)-3( be)-6( carefully)-42( reviewed)-58( beforehand)-59( in)-45( order)-19( to)-48( avoid)-22( unpleasant)]TJ EMC /P <>BDC 0 Tw 0 -1.235 TD (surprises.)Tj EMC /P <>BDC 0 -1.235 TD [(________________________________)-31( )]TJ EMC /P <>BDC 8.6897 0 0 8.6897 60.8276 647.3794 Tm (1)Tj EMC /P <>BDC 10.5517 0 0 10.5517 65.7931 643.6552 Tm ( )Tj EMC /P <>BDC /TT2 1 Tf 0.016 Tw 0.294 0 Td [(Income)-15( Tax)-39( Act.)]TJ EMC ET endstream endobj 15 0 obj <>/BS<>/Border[0 0 0]/Rect[61.0 150.0 116.0 161.0]/StructParent 18/Subtype/Link/Type/Annot>> endobj 16 0 obj <>/BS<>/Border[0 0 0]/Rect[140.0 150.0 205.0 161.0]/StructParent 19/Subtype/Link/Type/Annot>> endobj 17 0 obj <>/BS<>/Border[0 0 0]/Rect[249.0 126.0 254.0 135.0]/StructParent 20/Subtype/Link/Type/Annot>> endobj 18 0 obj <>/BS<>/Border[0 0 0]/Rect[145.0 718.0 150.0 727.0]/StructParent 15/Subtype/Link/Type/Annot>> endobj 19 0 obj <>/BS<>/Border[0 0 0]/Rect[214.0 533.0 219.0 542.0]/StructParent 16/Subtype/Link/Type/Annot>> endobj 20 0 obj <>/BS<>/Border[0 0 0]/Rect[200.0 491.0 205.0 500.0]/StructParent 17/Subtype/Link/Type/Annot>> endobj 21 0 obj <>/BS<>/Border[0 0 0]/Rect[197.0 598.0 202.0 607.0]/StructParent 26/Subtype/Link/Type/Annot>> endobj 22 0 obj <>/BS<>/Border[0 0 0]/Rect[169.0 614.0 174.0 623.0]/StructParent 25/Subtype/Link/Type/Annot>> endobj 23 0 obj <>/BS<>/Border[0 0 0]/Rect[106.0 587.0 111.0 596.0]/StructParent 32/Subtype/Link/Type/Annot>> endobj 24 0 obj <>/BS<>/Border[0 0 0]/Rect[61.0 729.0 125.0 740.0]/StructParent 39/Subtype/Link/Type/Annot>> endobj 25 0 obj <>/BS<>/Border[0 0 0]/Rect[175.0 574.0 180.0 583.0]/StructParent 40/Subtype/Link/Type/Annot>> endobj 26 0 obj <> endobj 27 0 obj <> endobj 28 0 obj <>>> endobj 29 0 obj <> endobj 30 0 obj <> endobj 31 0 obj <> endobj 32 0 obj [77 0 R null 78 0 R null null null null 73 0 R null 74 0 R 62 0 R null null 64 0 R 64 0 R 64 0 R null null null 66 0 R null null 68 0 R null null null null null 79 0 R 79 0 R null null null null 33 0 R null null null 34 0 R null null null 35 0 R null null null 36 0 R null null null 81 0 R null 81 0 R null 37 0 R null 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R null null 38 0 R] endobj 33 0 obj <>]/P 117 0 R/Pg 146 0 R/S/Link>> endobj 34 0 obj <>]/P 116 0 R/Pg 146 0 R/S/Link>> endobj 35 0 obj <>]/P 115 0 R/Pg 146 0 R/S/Link>> endobj 36 0 obj <>]/P 114 0 R/Pg 146 0 R/S/Link>> endobj 37 0 obj <>]/P 81 0 R/Pg 146 0 R/S/Link>> endobj 38 0 obj <>]/P 81 0 R/Pg 146 0 R/S/Link>> endobj 39 0 obj [81 0 R 81 0 R 81 0 R null null 40 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R null null 41 0 R 81 0 R 81 0 R null null 42 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R 81 0 R null null null null 83 0 R 83 0 R null 83 0 R 83 0 R null null null null 85 0 R 85 0 R null null null null 87 0 R 87 0 R null null null null 89 0 R 89 0 R 89 0 R 89 0 R null null 89 0 R null 43 0 R 89 0 R null 44 0 R null 89 0 R 89 0 R null 89 0 R 89 0 R null 89 0 R null null 45 0 R 89 0 R 89 0 R 89 0 R] endobj 40 0 obj <>]/P 81 0 R/Pg 1 0 R/S/Link>> endobj 41 0 obj <>]/P 81 0 R/Pg 1 0 R/S/Link>> endobj 42 0 obj <>]/P 81 0 R/Pg 1 0 R/S/Link>> endobj 43 0 obj <>]/P 89 0 R/Pg 1 0 R/S/Link>> endobj 44 0 obj <>]/P 89 0 R/Pg 1 0 R/S/Link>> endobj 45 0 obj <>]/P 89 0 R/Pg 1 0 R/S/Link>> endobj 46 0 obj [89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R null null 47 0 R 89 0 R 89 0 R null null 48 0 R 89 0 R null 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R 89 0 R null null null null 91 0 R 91 0 R null null null null 93 0 R 93 0 R null 93 0 R 93 0 R null 93 0 R 93 0 R null 93 0 R 93 0 R null 93 0 R 93 0 R null null null null 95 0 R null] endobj 47 0 obj <>]/P 89 0 R/Pg 4 0 R/S/Link>> endobj 48 0 obj <>]/P 89 0 R/Pg 4 0 R/S/Link>> endobj 49 0 obj [95 0 R null 95 0 R 95 0 R null null 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R null 95 0 R 95 0 R null 95 0 R 95 0 R null null 50 0 R 95 0 R null 95 0 R 95 0 R 95 0 R null 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R 95 0 R null null null null 55 0 R 55 0 R] endobj 50 0 obj <>]/P 95 0 R/Pg 7 0 R/S/Link>> endobj 51 0 obj [55 0 R null 52 0 R 55 0 R 55 0 R 55 0 R null 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R null null 53 0 R 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R null 55 0 R 55 0 R 55 0 R null 55 0 R null 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R null 55 0 R 55 0 R 55 0 R 55 0 R null 55 0 R 55 0 R 55 0 R null 55 0 R 55 0 R 55 0 R 55 0 R null 55 0 R 55 0 R 55 0 R 55 0 R null 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R null 55 0 R 55 0 R 55 0 R 55 0 R 55 0 R] endobj 52 0 obj <>]/P 55 0 R/Pg 10 0 R/S/Link>> endobj 53 0 obj <>]/P 55 0 R/Pg 10 0 R/S/Link>> endobj 54 0 obj [55 0 R 55 0 R 55 0 R 55 0 R 55 0 R null null null null 56 0 R 56 0 R null 56 0 R] endobj 55 0 obj <> 52 0 R<><><><><><><><> 53 0 R<><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>]/P 57 0 R/Pg 7 0 R/S/P>> endobj 56 0 obj <> endobj 57 0 obj <> endobj 58 0 obj <> endobj 59 0 obj <> endobj 60 0 obj <> endobj 61 0 obj <> endobj 62 0 obj <> endobj 63 0 obj <> endobj 64 0 obj <> endobj 65 0 obj <> endobj 66 0 obj <> endobj 67 0 obj <> endobj 68 0 obj <> endobj 69 0 obj <> endobj 70 0 obj <> endobj 71 0 obj <> endobj 72 0 obj <> endobj 73 0 obj <> endobj 74 0 obj <> endobj 75 0 obj <> endobj 76 0 obj <> endobj 77 0 obj <> endobj 78 0 obj <> endobj 79 0 obj <> endobj 80 0 obj <> endobj 81 0 obj <><><> 40 0 R<><><><><><><><><><><><><> 41 0 R<><> 42 0 R<><><><><><><><><>]/P 57 0 R/Pg 146 0 R/S/P>> endobj 82 0 obj <> endobj 83 0 obj <> endobj 84 0 obj <> endobj 85 0 obj <> endobj 86 0 obj <> endobj 87 0 obj <> endobj 88 0 obj <> endobj 89 0 obj <><><><><><><><><><> 47 0 R<><> 48 0 R<><><><><><><><><><><><><><><><><><><><><><><><><><><>]/P 57 0 R/Pg 1 0 R/S/P>> endobj 90 0 obj <> endobj 91 0 obj <> endobj 92 0 obj <> endobj 93 0 obj <> endobj 94 0 obj <> endobj 95 0 obj <><><> 100 0 R<><><><><><><><><><><><><> 50 0 R<><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>]/P 57 0 R/Pg 4 0 R/S/P>> endobj 96 0 obj <> endobj 97 0 obj <> endobj 98 0 obj <

> endobj 99 0 obj <

> endobj 100 0 obj <

> endobj 101 0 obj <

> endobj 102 0 obj <

> endobj 103 0 obj <

> endobj 104 0 obj <

> endobj 105 0 obj <

> endobj 106 0 obj <

> endobj 107 0 obj <

> endobj 108 0 obj <

> endobj 109 0 obj <

> endobj 110 0 obj <> endobj 111 0 obj <> endobj 112 0 obj <> endobj 113 0 obj <> endobj 114 0 obj <> endobj 115 0 obj <> endobj 116 0 obj <> endobj 117 0 obj <> endobj 118 0 obj <

> endobj 119 0 obj <> endobj 120 0 obj [1 0 R/XYZ 0 345.0 null] endobj 121 0 obj [4 0 R/XYZ 0 165.0 null] endobj 122 0 obj [7 0 R/XYZ 0 102.0 null] endobj 123 0 obj [13 0 R/XYZ 0 665.0 null] endobj 124 0 obj [1 0 R/XYZ 0 310.0 null] endobj 125 0 obj [4 0 R/XYZ 0 130.0 null] endobj 126 0 obj [1 0 R/XYZ 0 274.0 null] endobj 127 0 obj [4 0 R/XYZ 0 94.0 null] endobj 128 0 obj [1 0 R/XYZ 0 239.0 null] endobj 129 0 obj [146 0 R/XYZ 0 295.0 null] endobj 130 0 obj [1 0 R/XYZ 0 174.0 null] endobj 131 0 obj [7 0 R/XYZ 0 740.0 null] endobj 132 0 obj [10 0 R/XYZ 0 753.0 null] endobj 133 0 obj [13 0 R/XYZ 0 3819.0 null] endobj 134 0 obj <> endobj 135 0 obj <> endobj 136 0 obj <> endobj 137 0 obj (file:///C:/ColdFusion2018/cfusion/tmpCache/CFPDFServiceFileServlet/_cf_pdf/PDFFILE_1232304737.html) endobj 138 0 obj <> endobj 139 0 obj <> endobj 140 0 obj <>stream 2024-03-29T07:02:35-04:00 2024-03-29T07:02:35-04:00 2024-03-29T07:02:35-04:00 uuid:4e7c2fb2-9956-46af-a4b3-5e8131311973 uuid:609eac72-1acb-4af7-b0f5-1f423bd69c4c application/pdf PDF Acrobat Web Capture 9.0 endstream endobj 141 0 obj <> endobj 142 0 obj <> endobj 144 0 obj <>/Metadata 140 0 R/Names 145 0 R/Outlines 26 0 R/Pages 134 0 R/SpiderInfo 141 0 R/StructTreeRoot 27 0 R/Type/Catalog/URI<>/ViewerPreferences 176 0 R/Lang(English)/OCProperties 192 0 R>> endobj 145 0 obj <> endobj 146 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 4/Type/Page/Tabs/S>> endobj 147 0 obj [148 0 R 149 0 R 150 0 R 151 0 R 152 0 R 153 0 R] endobj 148 0 obj <>/BS<>/Border[0 0 0]/Rect[86.0 339.0 411.0 348.0]/StructParent 5/Subtype/Link/Type/Annot>> endobj 149 0 obj <>/BS<>/Border[0 0 0]/Rect[86.0 328.0 370.0 337.0]/StructParent 6/Subtype/Link/Type/Annot>> endobj 150 0 obj <>/BS<>/Border[0 0 0]/Rect[86.0 317.0 350.0 326.0]/StructParent 7/Subtype/Link/Type/Annot>> endobj 151 0 obj <>/BS<>/Border[0 0 0]/Rect[86.0 307.0 339.0 316.0]/StructParent 8/Subtype/Link/Type/Annot>> endobj 152 0 obj <>/BS<>/Border[0 0 0]/Rect[61.0 258.0 124.0 269.0]/StructParent 9/Subtype/Link/Type/Annot>> endobj 153 0 obj <>/BS<>/Border[0 0 0]/Rect[168.0 78.0 173.0 87.0]/StructParent 10/Subtype/Link/Type/Annot>> endobj 154 0 obj <> endobj 155 0 obj [/ICCBased 164 0 R] endobj 156 0 obj [/Indexed 157 0 R 3 166 0 R] endobj 157 0 obj [/ICCBased 165 0 R] endobj 158 0 obj <> endobj 159 0 obj <>stream /CS0 cs 1 scn 36 766.552 576 -694.552 re f BT /P <>BDC 0 scn /TT0 1 Tf 0.016 Tw 10.5517 0 0 10.5517 85.6552 463.6552 Tm [(Luc)-35( Pariseau)]TJ EMC /P <>BDC 0.008 Tw 8.6897 0 0 8.6897 85.6552 441.931 Tm [(Partner,)-14( Lawyer)]TJ EMC /P <>BDC 0.016 Tw 10.5517 0 0 10.5517 85.6552 420.2069 Tm [(Guy)-48( Lavoie)]TJ EMC /P <>BDC 0.008 Tw 8.6897 0 0 8.6897 85.6552 398.4828 Tm [(Partner,)-14( Lawyer)]TJ EMC ET /Img <>BDC q /GS0 gs 93.1034393 0 0 -40.3448334 60.8275909 760.3448029 cm /Im0 Do Q EMC BT /H1 <>BDC /CS2 cs 0.161 0.239 0.239 scn /TT0 1 Tf -0.003 Tw 24.8276 0 0 24.8276 60.8276 649.2413 Tm [(Quarterly)-13( legal)-13( newsletter)-18( intended)-14( for)]TJ EMC /H1 <>BDC 0 -1.225 TD [(accounting,)-11( management,)-11( and)-7( finance)]TJ EMC /H1 <>BDC T* [(professionals,)-6( Number)-19( 20)]TJ EMC /TIME <>BDC /CS0 cs 0 scn -0.028 Tw 9.931 0 0 9.931 60.8276 556.1379 Tm [(June)-19( 1,)-41( 2013)]TJ EMC /H3 <>BDC /CS2 cs 0.427 0.753 0.404 scn 0 Tw 17.3793 0 0 17.3793 60.8276 503.3793 Tm (Authors)Tj EMC /P <>BDC /CS0 cs 0 scn /TT1 1 Tf 10.5517 0 0 10.5517 60.8276 361.8621 Tm (CONTENTS)Tj EMC /P <>BDC /TT0 1 Tf 5.529 0 Td ( )Tj EMC ET /Link <>BDC BT /CS2 cs 0 0 1 scn /TT0 1 Tf 0.008 Tw 8.6897 0 0 8.6897 85.6552 340.1379 Tm [(Life)-31( Insurance)-37( Policy:)-55( How)-71( to)-23( Extract)-31( Funds)-7( from a)-15( Corporation)-62( with)-8( No)-8( Tax)-47( Impact)]TJ ET /CS2 CS 0 0 1 SCN 0.621 w q 1 0 0 1 85.6552 339.5172 cm 0 0 m 324.621 0 l S Q EMC /Link <>BDC BT /TT0 1 Tf 8.6897 0 0 8.6897 85.6552 329.5862 Tm [(Constructive)-14( Dismissal)-9( Analyzed)-30( in)-8( the)-39( Context)-54( of)-23( a)-15( Business)-14( Acquisition)]TJ ET q 1 0 0 1 85.6552 328.9655 cm 0 0 m 283.655 0 l S Q EMC /Link <>BDC BT /TT0 1 Tf 8.6897 0 0 8.6897 85.6552 319.0345 Tm [(The)-63( Right)-23( of)-23( Withdrawal,)-63( a)-15( Controlled)-14( Form)-24( of)-23( Contractual)-30( Freedom)]TJ ET q 1 0 0 1 85.6552 318.4138 cm 0 0 m 264.414 0 l S Q EMC /Link <>BDC BT /TT0 1 Tf 8.6897 0 0 8.6897 85.6552 308.4828 Tm [(Transfers)-63( of)-23( Residences)-62( Involving)-54( a)-15( Spousal)-30( Testamentary)-30( Trust)]TJ ET q 1 0 0 1 85.6552 307.8621 cm 0 0 m 252.621 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT1 1 Tf 0.016 Tw 10.5517 0 0 10.5517 60.8276 286.7586 Tm [(LIFE)-9( INSURANCE)-56( POLICY:)-3( HOW)-27( TO)-23( EXTRACT)-43( FUNDS)-27( FROM)-56( A)-43( CORPORATION)-29( WITH)-33( NO)]TJ EMC /P <>BDC 0 -1.235 TD (TAX IMPACT)Tj EMC ET /Link <>BDC BT /CS2 cs 0 0 1 scn /TT0 1 Tf 10.5517 0 0 10.5517 60.8276 260.6897 Tm [(Luc)-35( Pariseau)]TJ ET q 1 0 0 1 60.8276 260.069 cm 0 0 m 62.69 0 l S Q EMC BT /P <>BDC /CS0 cs 0 scn /TT2 1 Tf 10.5517 0 0 10.5517 123.5172 260.6897 Tm [( with)-45( the)-22( collaboration)-37( of)-48( Martin)-45( B\351dard,)-27( articling)-26( student)]TJ EMC /P <>BDC /TT0 1 Tf -5.941 -2.471 Td [(Individual)-11( shareholders)-43( who)-48( wish)-59( to)-48( withdraw)-55( funds)-25( from a)-32( corporation)-57( can)-35( face)-51( some)-26( tax)]TJ EMC /P <>BDC T* [(challenges)-43( that)-38( are)-26( sometimes)-48( difficult)-6( to)-48( overcome.)-38( Nevertheless,)-5( there)-15( are)-26( various)-12( ways)-16( of)]TJ EMC /P <>BDC 0 -1.235 TD [(achieving)-11( this)-32( objective)-54( that)-38( limit)-47( or)-52( eliminate)-58( the)-22( negative)-43( tax)-19( consequences)-23( to)-48( the)-22( shareholder)-14( and)]TJ EMC /P <>BDC 0 -1.235 TD [(the)-22( corporation,)-14( provided)-47( certain)-58( conditions)-27( are)-26( complied)-58( with.)-3( The)-42( transfer)-22( of)-48( a)-32( life)-16( insurance)-18( policy)]TJ EMC /P <>BDC T* [(by)-3( an)-6( individual)-8( shareholder)-14( to)-48( a)-32( corporation)-57( where)-42( the)-22( two)-32( are)-26( in)-45( a)-32( non)-38(-)-20(arm\222s)-27( length)-41( relationship)-5( is)]TJ EMC /P <>BDC 0 -1.235 TD [(often)-11( an)-6( effective)-41( way)-45( of)-48( accomplishing)-18( this.)]TJ EMC /P <>BDC 0 -2.471 TD [(The)-42( technique)-17( is)-43( simple.)-9( The)-42( individual)-8( transfers)-51( his)-16( policy)-32( to)-48( his)-16( corporation)-57( and)-38( receives)-42( a)]TJ EMC /P <>BDC 0 -1.235 TD [(consideration)-53( equal)-25( to)-48( the)-22( fair)-23( market)-3( value)-22( of)-48( the)-22( policy,)-48( as)-3( determined)-57( by)-3( an)-6( actuary.)-31( The)]TJ EMC /P <>BDC 0 -1.235 TD [(consideration)-53( paid)-51( by)-3( the)-22( corporation)-57( may)-52( be)-6( in)-45( the)-22( form of)-48( money)-58( or)-52( a)-32( promissory)-52( note)-54( that)-38( will)-24( be)]TJ EMC /P <>BDC 0 -1.235 TD [(paid)-51( when)-22( the)-22( corporation)-57( has)-35( the)-22( necessary)-31( cash)-6( available.)-11( By)-9( operation)-7( of)-48( the)-22( ITA,)-48( the)-22( proceeds)]TJ EMC /P <>BDC 0 -1.235 TD [(of)-48( disposition)-41( are)-26( deemed)-34( to)-48( be)-6( equal)-25( to)-48( the)-22( cash)-6( surrender)-15( value)-22( of)-48( the)-22( policy)-32( transferred)-47( at)-48( the)]TJ EMC /P <>BDC 0 -1.471 TD [(time)-52( of)-48( the)-22( disposition.)]TJ EMC ET /Link <>BDC BT /CS2 cs 0 0 1 scn /TT0 1 Tf 0 Tw 8.6897 0 0 8.6897 168.2069 79.4483 Tm (1)Tj ET q 1 0 0 1 168.2069 78.8276 cm 0 0 m 4.966 0 l S Q EMC endstream endobj 160 0 obj <> endobj 161 0 obj <> endobj 162 0 obj <> endobj 163 0 obj <> endobj 164 0 obj <>stream Hb``$WR~  |@T # 2 S/`M.(*(%8H8c- fԉd9@6_IjH9(3=DR1%?)U!$5X3/9 ($5j%V*'&*r"(,!!0b;CҢ2(ɘ I8/ endstream endobj 165 0 obj <>stream HyTSwoɞc [5laQIBHADED2mtFOE.c}08׎8GNg9w߽'0 ֠Jb  2y.-;!KZ ^i"L0- @8(r;q7Ly&Qq4j|9 V)gB0iW8#8wթ8_٥ʨQQj@&A)/g>'Kt;\ ӥ$պFZUn(4T%)뫔0C&Zi8bxEB;Pӓ̹A om?W= x-[0}y)7ta>jT7@tܛ`q2ʀ&6ZLĄ?_yxg)˔zçLU*uSkSeO4?׸c. R ߁-25 S>ӣVd`rn~Y&+`;A4 A9=-tl`;~p Gp| [`L`< "A YA+Cb(R,*T2B- ꇆnQt}MA0alSx k&^>0|>_',G!"F$H:R!zFQd?r 9\A&G rQ hE]a4zBgE#H *B=0HIpp0MxJ$D1D, VĭKĻYdE"EI2EBGt4MzNr!YK ?%_&#(0J:EAiQ(()ӔWT6U@P+!~mD eԴ!hӦh/']B/ҏӿ?a0nhF!X8܌kc&5S6lIa2cKMA!E#ƒdV(kel }}Cq9 N')].uJr  wG xR^[oƜchg`>b$*~ :Eb~,m,-ݖ,Y¬*6X[ݱF=3뭷Y~dó ti zf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:˜O:ϸ8uJqnv=MmR 4 n3ܣkGݯz=[==<=GTB(/S,]6*-W:#7*e^YDY}UjAyT`#D="b{ų+ʯ:!kJ4Gmt}uC%K7YVfFY .=b?SƕƩȺy چ k5%4m7lqlioZlG+Zz͹mzy]?uuw|"űNwW&e֥ﺱ*|j5kyݭǯg^ykEklD_p߶7Dmo꿻1ml{Mś nLl<9O[$h՛BdҞ@iءG&vVǥ8nRĩ7u\ЭD-u`ֲK³8%yhYѹJº;.! zpg_XQKFAǿ=ȼ:ɹ8ʷ6˶5̵5͵6ζ7ϸ9к<Ѿ?DINU\dlvۀ܊ݖޢ)߯6DScs 2F[p(@Xr4Pm8Ww)Km endstream endobj 166 0 obj <>stream tdBLR endstream endobj 167 0 obj <> endobj 168 0 obj <>/Filter/FlateDecode/Height 175/Length 6099/Name/X/Subtype/Image/Type/XObject/Width 400>>stream H{tMWoOixgo`1BhhFPh1af0!ڹMA"Z 3(Z) D3=>scܵfHۿ_CPՒv#8JC>nwl:R<[] m(!Uv!P{%d^Tp B7(@eǝH( k^@>$fi!Iu6UL" Aj kDg-juV cwY/wV2 =Oqӆ=BWD/ c;Cy|h2pheRk]<^gW_a:֎uKn$g԰uT0EŶuz_k#ipĶ|L_Տ,Ͳ zOV~YfW{ yǭ8 FX.UtGfXpս.׺f84"ۿ23T}*T6.h˛{yyYb*y "qX׍jjs'bG)?c$icG#"kQRSUX}mMlSS~HY#\M{[1DwLW+XDTI^]km7tprvb3 QǐH b.(5`;jF$(3u 204| &upeQlZrZI*R\K2{/b( HQ^+;r^ݥ3lKʒyLYUaS N"qb]MC^ _w~n-pV: -r<0=jނzѢF_  0WXK-C9U/¾[pD}] 9 ʡp}L1ƞW#JSU }/[LJU8a[VT cx=$ G!锤:U]oJ㈮K}E)sMrt}ædVgk=^Bk5m5_E\\AI%; {;V&\Cn՛jmj&jx} U6s42%ʿUJrN\v2-Mo_E&[sǫ*<}"QxNIC|%ol3#(Xjje&4j״u=5 " I{nE5j>oKR7kcVn9e0%D. -R4Lm*v_K"ֿXyG،y3}n_x.Aф( ~PfWPɮxw^ Q.Co]ɭ}~ "n6 Nr%d}I|1*NI$W-y%X 8-5ii|YFRfzHI* Z%, a6F~RqCCS͇=Ovp)) u8LgD$a\P`h#*FM&V+rZ*f=BJR'x7T`Gok?`5y&_&T )KnbyK@2U+_BxɌ=%üo%x%ʇeFImNZZGŐT[ =0@{)I d*oሑ)I)g\G'A " $پCABʈb7O>t x 1Ϛ9| .N%:#8uqd51 @?c_ i d#%̃$n/ ِ (t|@! n/*Q>JvB& ( \ @ @ @ @  i7ryf'\pί%0NDx3 |Zl?̨KhYt8mDi~lxRC`@1"X-Ƿ{H7*Ћf}6|>ɥ YAݜ>\ @a@a%3I8oh']_Ώɗ9k3HP?=e5v qkMy ̇#}ȼcn4hiG! +C|8eG=ny䨻]sl`s\&|4ʌv>z }w}+|y#te˴aqy1Ԩ;"]L7vݩ\)O颛3A>jZH-/w zix>1cn Ǝ;Yq ak9C:ϥѭϵnG {j1&~;YKa9Cj}:Ԍsˎ5Z5&n;mq{ps5ǍVYe ; Uh=!q2|q˸9ClqBҵXNO#P뭴5sIkqǑ??޵I|B۴/68(k0Ks.-ǯ;X}taZRȤXm3Y/$eqV{kM}GKhc܃0By p# D,8X "j+b2HF 4By- ȣw IH{/ܵگou~7U`1FA]Kk^?cw|xF%Pwx !QZZץW]Qü;;!8,,nNۄ_5{|wi1;ɴ3~E x4+B5!sy!M{zՌY^jb·+cuj*b#J_[ũFGi =Ҵ<8C % p#v3:a4@;5<>!{zJ"v+ySuV!m,f$|*PGZ1j}"GRqX ]<ԃR ەA𾒝8_/XMU8@z%T 7AUD"~nS(* 5!QoQ?!īڑ !.w,oA'рx֤UBa6=xG󋨁MPѢj*0fOv!Ļ8сy,6 {xjAx,%,z7_YhQ} Ļ`QH`F('cL9¥? zEM8ax&PI j"&ǢzkP S¥կ%MI]#oQQ3 Aau Lx%j 9Qmcl(J c 0u12C냥5 F'G. ˟0f܁wl1Fxx^h@7^~82<ʇ AZwj(~=Bnbz2`w$7 'CɜV 2;736 @ol|AgYypktul;12̔G̿p^Xoa}ҳYLgz^<}TAT!z>I8#>%CHUxp^j‶,ił&_<];YU}3gT@@se$GUGO:8D!j&&D !VWGJzB,y?5VQ*ȊGop$sAE%%> V/"b#|iyXmȑ7kO/MkaI܅Ip}8,ڂ=;ts^a@bǃ-'NSF`,.c%1ot<:SWx/?j}d%,y dh:DV}<ªPa/.|Xt̉uW3w㹎&/"p푟SC팚nh^>32k+&؝>L:W>v#:Ƽdӑ“y+>pkP\Qo{*RTٽk߷ƭ.BUQXWkrI,J'wxrK>o-<%|ޒ[yxK>>Ϩ ʽ5?-<%|ޒ[yxK>o-<\A ouM|yD`^D endstream endobj 169 0 obj <>stream HZu{7U׌ek^n_]W5qW k C Q/2{'Imek6  ã&Q '#0&Wt]x̡^aJfO,,R 0u5,|GC":`!YOu&A":&H+ün&ȃ邆 w̃P,\  (\A<02^<xd46cUVVJ\í'ܠh0߭9h3[b׋VG4;^G-RAG;I;<ƞwSL9<> endobj 171 0 obj (1k s) endobj 172 0 obj [/ICCBased 173 0 R] endobj 173 0 obj <>stream HyTSwoɞc [5laQIBHADED2mtFOE.c}08׎8GNg9w߽'0 ֠Jb  2y.-;!KZ ^i"L0- @8(r;q7Ly&Qq4j|9 V)gB0iW8#8wթ8_٥ʨQQj@&A)/g>'Kt;\ ӥ$պFZUn(4T%)뫔0C&Zi8bxEB;Pӓ̹A om?W= x-[0}y)7ta>jT7@tܛ`q2ʀ&6ZLĄ?_yxg)˔zçLU*uSkSeO4?׸c. R ߁-25 S>ӣVd`rn~Y&+`;A4 A9=-tl`;~p Gp| [`L`< "A YA+Cb(R,*T2B- ꇆnQt}MA0alSx k&^>0|>_',G!"F$H:R!zFQd?r 9\A&G rQ hE]a4zBgE#H *B=0HIpp0MxJ$D1D, VĭKĻYdE"EI2EBGt4MzNr!YK ?%_&#(0J:EAiQ(()ӔWT6U@P+!~mD eԴ!hӦh/']B/ҏӿ?a0nhF!X8܌kc&5S6lIa2cKMA!E#ƒdV(kel }}Cq9 N')].uJr  wG xR^[oƜchg`>b$*~ :Eb~,m,-ݖ,Y¬*6X[ݱF=3뭷Y~dó ti zf6~`{v.Ng#{}}jc1X6fm;'_9 r:8q:˜O:ϸ8uJqnv=MmR 4 n3ܣkGݯz=[==<=GTB(/S,]6*-W:#7*e^YDY}UjAyT`#D="b{ų+ʯ:!kJ4Gmt}uC%K7YVfFY .=b?SƕƩȺy چ k5%4m7lqlioZlG+Zz͹mzy]?uuw|"űNwW&e֥ﺱ*|j5kyݭǯg^ykEklD_p߶7Dmo꿻1ml{Mś nLl<9O[$h՛BdҞ@iءG&vVǥ8nRĩ7u\ЭD-u`ֲK³8%yhYѹJº;.! zpg_XQKFAǿ=ȼ:ɹ8ʷ6˶5̵5͵6ζ7ϸ9к<Ѿ?DINU\dlvۀ܊ݖޢ)߯6DScs 2F[p(@Xr4Pm8Ww)Km endstream endobj 176 0 obj <> endobj 179 0 obj <> endobj 180 0 obj <> endobj 181 0 obj <> endobj 182 0 obj <> endobj 183 0 obj <> endobj 184 0 obj <> endobj 185 0 obj <>stream xڵKKC1>hZ_]f$Vнp7 (a(Tr gfNBցk}> a2*k3:kXoJ(di\$ TJMx'`Kxzpa} ~ѣ endstream endobj 186 0 obj <> endobj 187 0 obj <> endobj 188 0 obj <> endobj 189 0 obj <> endobj 190 0 obj <> endobj 191 0 obj <> endobj 192 0 obj <> endobj 193 0 obj <> endobj 194 0 obj <> endobj 195 0 obj <> endobj 196 0 obj <> endobj 197 0 obj <> endobj 198 0 obj <> endobj 199 0 obj <> endobj 200 0 obj <>stream q endstream endobj 201 0 obj <>stream x w,*LKL.Q,HUHLK,ϳSprq-53P0bdvr.{Bz1[K>o 3/T4 endstream endobj 204 0 obj <> endobj 205 0 obj <> endobj 206 0 obj <> endobj 207 0 obj <> endobj 208 0 obj <> endobj 209 0 obj <>stream xڵKKC1>hZ_]f$Vнp7 (a(Tr gfNBցk}> a2*k3:kXoJ(di\$ TJMx'`Kxzpa} ~ѣ endstream endobj 210 0 obj <> endobj 211 0 obj <> endobj 212 0 obj <> endobj 213 0 obj <> endobj 214 0 obj <> endobj 215 0 obj <> endobj 216 0 obj <> endobj 217 0 obj <> endobj 218 0 obj <> endobj 219 0 obj <> endobj 220 0 obj <> endobj 221 0 obj <> endobj 222 0 obj <> endobj 223 0 obj <> endobj 224 0 obj <>stream q endstream endobj 225 0 obj <>stream x w,*LKL.Q,HUHLK,ϳSprq-53P0bdvr.{Bz1[K>o 3/T4 endstream endobj 228 0 obj <> endobj 229 0 obj <> endobj 230 0 obj <> endobj 231 0 obj <> endobj 232 0 obj <> endobj 233 0 obj <>stream xڵKKC1>hZ_]f$Vнp7 (a(Tr gfNBցk}> a2*k3:kXoJ(di\$ TJMx'`Kxzpa} ~ѣ endstream endobj 234 0 obj <> endobj 235 0 obj <> endobj 236 0 obj <> endobj 237 0 obj <> endobj 238 0 obj <> endobj 239 0 obj <> endobj 240 0 obj <> endobj 241 0 obj <> endobj 242 0 obj <> endobj 243 0 obj <> endobj 244 0 obj <> endobj 245 0 obj <> endobj 246 0 obj <> endobj 247 0 obj <> endobj 248 0 obj <>stream q endstream endobj 249 0 obj <>stream x w,*LKL.Q,HUHLK,ϳSprq-53P0bdvr.{Bz1[K>o 3/T4 endstream endobj 252 0 obj <> endobj 253 0 obj <> endobj 254 0 obj <> endobj 255 0 obj <> endobj 256 0 obj <> endobj 257 0 obj <>stream xڵKKC1>hZ_]f$Vнp7 (a(Tr gfNBցk}> a2*k3:kXoJ(di\$ TJMx'`Kxzpa} ~ѣ endstream endobj 258 0 obj <> endobj 259 0 obj <> endobj 260 0 obj <> endobj 261 0 obj <> endobj 262 0 obj <> endobj 263 0 obj <> endobj 264 0 obj <> endobj 265 0 obj <> endobj 266 0 obj <> endobj 267 0 obj <> endobj 268 0 obj <> endobj 269 0 obj <> endobj 270 0 obj <> endobj 271 0 obj <> endobj 272 0 obj <>stream q endstream endobj 273 0 obj <>stream x w,*LKL.Q,HUHLK,ϳSprq-53P0bdvr.{Bz1[K>o 3/T4 endstream endobj 276 0 obj <> endobj 277 0 obj <> endobj 278 0 obj <> endobj 279 0 obj <> endobj 280 0 obj <> endobj 281 0 obj <>stream xڵKKC1>hZ_]f$Vнp7 (a(Tr gfNBցk}> a2*k3:kXoJ(di\$ TJMx'`Kxzpa} ~ѣ endstream endobj 282 0 obj <> endobj 283 0 obj <> endobj 284 0 obj <> endobj 285 0 obj <> endobj 286 0 obj <> endobj 287 0 obj <> endobj 288 0 obj <> endobj 289 0 obj <> endobj 290 0 obj <> endobj 291 0 obj <> endobj 292 0 obj <> endobj 293 0 obj <> endobj 294 0 obj <> endobj 295 0 obj <> endobj 296 0 obj <>stream q endstream endobj 297 0 obj <>stream x w,*LKL.Q,HUHLK,ϳSprq-53P0bdvr.{Bz1[K>o 3/T4 endstream endobj 300 0 obj <> endobj 301 0 obj <> endobj 302 0 obj <> endobj 303 0 obj <> endobj 304 0 obj <> endobj 305 0 obj <>stream xڵKKC1>hZ_]f$Vнp7 (a(Tr gfNBցk}> a2*k3:kXoJ(di\$ TJMx'`Kxzpa} ~ѣ endstream endobj 306 0 obj <> endobj 307 0 obj <> endobj 308 0 obj <> endobj 309 0 obj <> endobj 310 0 obj <> endobj 311 0 obj <> endobj 312 0 obj <> endobj 313 0 obj <> endobj 314 0 obj <> endobj 315 0 obj <> endobj 316 0 obj <> endobj 317 0 obj <> endobj 318 0 obj <> endobj 319 0 obj <> endobj 320 0 obj <>stream q endstream endobj 321 0 obj <>stream x w,*LKL.Q,HUHLK,ϳSprq-53P0bdvr.{Bz1[K>o 3/T4 endstream endobj 322 0 obj <>stream xz tUwoUuuZ$Y:4!,HM  IH, I]PGq qN҉((3ˌ:PgTqtVw{yw;Uno4V gpm?Bcjl^ߣ\Q9 @;Waո4?4aŪM˿X'B[kSgx /hC 籝ڶg{:}ͪ& ޺ic' @ʚխo`v>y粢rNb5 yLrXNZ5oB߇œ| Os ^Y@Su">{N\o ,FG=ngTx?YB_:  #id Fv\"-7G?9KǷ{;;?ч👦.H8 T mݏ!#3|$&K&"Ar#oD9~w A(3z#l _AjiH,V\f O!; oH9 _؉$d2ԒEd!ȍvG!?n hddM皠=kuQ-h=ڧaOzCC6y>$9;}̡sJ>n%4@jh, rQw(I;J7+'ObhzT kQ ( a& ,!w>N;978LWpmˍ'7,< 4^ep; ϓ;d io5\P'#y~>.Z<ގMB)B5"ߠ܄T* 0J:UT41dIK~7N\2ibqQ92}cxR=)nŕtmVl6 z5^/JOU6xgڴ,4!@c@AP8QES.#G01@IVRQ+\"|S'm7t+ۻM 쫭zҴ*\z'37¶ώ9TAV{u#^H|onrC|;&x*;w`_'+_Do2G+㥕֋}jMEgI؎<ӑ J;AXZEO=QT+Odp6> [krHSIVeq/rH=!+s}x:e $̩an7A?,F`km]gYz\A=Q1YUM IwkzvQRmZ}ZV^%h&pj/r⒋ȬQgiQ9%(jUQrH^s(iXtۓ.k_=C/潴z^e}Uwz{nZXVߟ}uC ZJYCa &T' W{yTvF9H#09W]ȏnGsGyi#({d3 A@qhEsyzQco$з7vK:+}B1!; o[>p'%;姀 㤍C`sã'(HcJg  1d޾(faBWGLKS.y}KÜEK7+;NQ;kNPsoW9hX'\gɅyPޓsMm9oO~qg/ym呾]*c\,عvC _?B/wݗݸ}{k"Ԏ?ҵʼ(fY3Uטi8//1 2j->Q޹lrJ~rk^C++6F&V bALjȲ)ɥi:8\&%LKi| a kԁ#Ɍ_fJNdtRtMq|rWO濣Am6ˬ|RDBJ1Y>b)&]+x2ZAah\FIX$5Jaܻ_Yх'7[⺪?yCcֲPܝMzcY/o7uYzl۞w)9zM'H1Vr2EFV+M&H ؈3rhh҉2gԚM&Nhub3d?N"!\N3gT6*-[zq>!Jk"%*),x‚B. yB_40%3b|ew7?)ǹcG>ۻBMi TPp޿EnhwKkܯ}tiJDr<"i5(A I Y*h#Foרf#t,1Vym 7vK!>LRc`C-Vg}?1V"!MyN֑ һFSNmLݚʧID))iEM>6k]oya_-P r%_SbP:QiD9wnG隒ef|;>-tn r̺y\CO GB;aeM1op7mSGk\H 2[*%pZ!D4y&HqkFV+7n _֡WIp#H~5c,S[Bla,SCewaF<` ,Rd屩c<[wy(tlCouB?Q A&Jђωbq,- EnN* cZ 3X EU@U[^"eT32)T2Duw:|M`h|Gϔ6_u͹ ,W_Q4=WY; }zo[p[ͽ͕ESYhWK1)..X06iaU_4nxu{&AaQUQ7OdJU=zE@Ng>F,AЏS>:H2*8JVF/IQZ(ǻ):ɝh&H^^$ǁN! V/<:f> };5\0`|JH̫i SM=CE~v On#nM˅vVYc(4X[VDYMm dHe1YTQF!qftZ\xF[ج^DmdlSD;jIсU=ƵF!J%B{Z9E%Q_F\6^YUã^ԶkOmPP}*өShɢY䈬 "j$ꥢ1i((T w F-$-&=|" ; ̾a '^SfA# 7Kb*J=1Lzj5:S X$lGfsIoG,Yϥ.!tƀ'Uei9l265Ur8FyI\&GC5^û#<}mQT.e3'QG5˶?&OQlIFEcjl \#ɣ+_yœK:?h/۶'xq&^6" O>uKϤzC_˝Gq~f0XJQCܽgq_sF d:ť^FGohmmV+o6$$ب%$r;ٍqQR?%&#[Sitjj4DA_EUh@T/kQZ.0a&LO@BD}:c޽m3}^R~r ݂/v]t='W>$xJt4\:X0`5> `e;nW1H[0qHбqGw7Pk@@x|} 2JīԻhVp@h] h]e( 90CbYz|trluaMoW1aTXs@jŲcޢb񝆭em ξ]g&ξ ^(8oXo:duρ_ܺuڪ^ڢ@Nv@u֞UvBBҺkұ?eթDz`>`/Ei햋5IgѦy =0(r@d' Z029sx|68`?T-gne̚\)uH)M9y ʍ`H;c|Q957cx\0Ά=2k>AAGp#:[3["5U|yRl5/Ujޡ*>9~s2 Idg ]D/wS]+\X0mɘΨpwEGA ҁ[ӽ.8ZQ }ju!+H~pd+H럮g]ߺf^x5X X2)ٵ57wƵѵʵFQV]8hQ"WdRUp4G]Y$ՕeCƻ\\rFΊ1XJkQ2J}}žľb$@ }bOKD֪&Aj-ZЪ?H1oήYYΫuFaJUYUye:p)yDW( xHZ ˜"_uP u^$0.H!ոoK`e!v}:R\U?%Ĝ"ionPtM9}ǚΤ]O&rY%T_3OYR7D++32ʹ eVWըxAV (exP}GIϣ!EbxX2d `9>d/%xÞʊ~gtag82WDEqRQPT\*P'(ʸ(ԕ8+cTFql%i-*̩BY}H+wNQ7屄a-},AiS1411Inu <*hWԬ uد٣]&Ɂh` q>{zg]@Ƽ@i~Q +3 +80 ]D("RL2E q n .t){՜mVݞ;* endstream endobj 323 0 obj <> endobj 324 0 obj <> endobj 325 0 obj <> endobj 326 0 obj <>stream xړy endstream endobj 327 0 obj <>stream x]n0< HRJ9tj!m r!o_4Eai\?~Z|=J]| Vh 6&[~KeL>ݯ\~ʏ;=ѫE'8 ?Gy8%r-?_*[/Be|>}Z)hNKo%,ŞxQ_ 1-2QSbKGT]5h Z6-h;n@7tԀ@wZAc{AԂZP:PnAT;qiZ,(V`PjX (:3ZҒc nAd ; &[&aդPLK Xeh~(m<]c- [qÛv8^˼| endstream endobj xref 0 328 0000000000 65535 f 0000000016 00000 n 0000000385 00000 n 0000000444 00000 n 0000009748 00000 n 0000010105 00000 n 0000010136 00000 n 0000019266 00000 n 0000019635 00000 n 0000019659 00000 n 0000029788 00000 n 0000030160 00000 n 0000030192 00000 n 0000039151 00000 n 0000039497 00000 n 0000040474 00000 n 0000040699 00000 n 0000040928 00000 n 0000041244 00000 n 0000041560 00000 n 0000041876 00000 n 0000042192 00000 n 0000042508 00000 n 0000042824 00000 n 0000043140 00000 n 0000043368 00000 n 0000043684 00000 n 0000043727 00000 n 0000043847 00000 n 0000043893 00000 n 0000043943 00000 n 0000044194 00000 n 0000044301 00000 n 0000044745 00000 n 0000044826 00000 n 0000044907 00000 n 0000044988 00000 n 0000045069 00000 n 0000045149 00000 n 0000045229 00000 n 0000045792 00000 n 0000045868 00000 n 0000045945 00000 n 0000046022 00000 n 0000046099 00000 n 0000046176 00000 n 0000046253 00000 n 0000046759 00000 n 0000046836 00000 n 0000046913 00000 n 0000047395 00000 n 0000047472 00000 n 0000047954 00000 n 0000048031 00000 n 0000048109 00000 n 0000048208 00000 n 0000050130 00000 n 0000050185 00000 n 0000050382 00000 n 0000050431 00000 n 0000050487 00000 n 0000050568 00000 n 0000050632 00000 n 0000050684 00000 n 0000050748 00000 n 0000050806 00000 n 0000050865 00000 n 0000050918 00000 n 0000050981 00000 n 0000051032 00000 n 0000051087 00000 n 0000051142 00000 n 0000051189 00000 n 0000051253 00000 n 0000051302 00000 n 0000051351 00000 n 0000051398 00000 n 0000051462 00000 n 0000051511 00000 n 0000051560 00000 n 0000051614 00000 n 0000051695 00000 n 0000052634 00000 n 0000052687 00000 n 0000052745 00000 n 0000052798 00000 n 0000052850 00000 n 0000052903 00000 n 0000052955 00000 n 0000053008 00000 n 0000054299 00000 n 0000054352 00000 n 0000054404 00000 n 0000054457 00000 n 0000054533 00000 n 0000054586 00000 n 0000056263 00000 n 0000056315 00000 n 0000056368 00000 n 0000056405 00000 n 0000056442 00000 n 0000056480 00000 n 0000056518 00000 n 0000056556 00000 n 0000056594 00000 n 0000056632 00000 n 0000056670 00000 n 0000056708 00000 n 0000056746 00000 n 0000056784 00000 n 0000056822 00000 n 0000056879 00000 n 0000056936 00000 n 0000056993 00000 n 0000057050 00000 n 0000057099 00000 n 0000057148 00000 n 0000057197 00000 n 0000057246 00000 n 0000057284 00000 n 0000057502 00000 n 0000057544 00000 n 0000057586 00000 n 0000057628 00000 n 0000057671 00000 n 0000057713 00000 n 0000057755 00000 n 0000057797 00000 n 0000057838 00000 n 0000057880 00000 n 0000057924 00000 n 0000057966 00000 n 0000058008 00000 n 0000058051 00000 n 0000058095 00000 n 0000058182 00000 n 0000058227 00000 n 0000058272 00000 n 0000058390 00000 n 0000058531 00000 n 0000058586 00000 n 0000062097 00000 n 0000062126 00000 n 0000000000 65535 f 0000062264 00000 n 0000062524 00000 n 0000062585 00000 n 0000063025 00000 n 0000063092 00000 n 0000063405 00000 n 0000063718 00000 n 0000064031 00000 n 0000064344 00000 n 0000064571 00000 n 0000064886 00000 n 0000066064 00000 n 0000066101 00000 n 0000066147 00000 n 0000066184 00000 n 0000066406 00000 n 0000072014 00000 n 0000073196 00000 n 0000073424 00000 n 0000074609 00000 n 0000074838 00000 n 0000075127 00000 n 0000077775 00000 n 0000077836 00000 n 0000077950 00000 n 0000084271 00000 n 0000086472 00000 n 0000086520 00000 n 0000086556 00000 n 0000086593 00000 n 0000000000 65535 f 0000000000 65535 f 0000089261 00000 n 0000000000 65535 f 0000000000 65535 f 0000089304 00000 n 0000089358 00000 n 0000089404 00000 n 0000089507 00000 n 0000089572 00000 n 0000089740 00000 n 0000089880 00000 n 0000090422 00000 n 0000090506 00000 n 0000090543 00000 n 0000090576 00000 n 0000090611 00000 n 0000090648 00000 n 0000090706 00000 n 0000090792 00000 n 0000090987 00000 n 0000091056 00000 n 0000091126 00000 n 0000091180 00000 n 0000091228 00000 n 0000091303 00000 n 0000091350 00000 n 0000091400 00000 n 0000000000 65535 f 0000000000 65535 f 0000091552 00000 n 0000091606 00000 n 0000091652 00000 n 0000091755 00000 n 0000091820 00000 n 0000091988 00000 n 0000092530 00000 n 0000092614 00000 n 0000092651 00000 n 0000092684 00000 n 0000092719 00000 n 0000092756 00000 n 0000092814 00000 n 0000092883 00000 n 0000092953 00000 n 0000093007 00000 n 0000093055 00000 n 0000093130 00000 n 0000093177 00000 n 0000093211 00000 n 0000093245 00000 n 0000093295 00000 n 0000000000 65535 f 0000000000 65535 f 0000093447 00000 n 0000093501 00000 n 0000093547 00000 n 0000093650 00000 n 0000093715 00000 n 0000093883 00000 n 0000094425 00000 n 0000094509 00000 n 0000094546 00000 n 0000094579 00000 n 0000094614 00000 n 0000094651 00000 n 0000094709 00000 n 0000094778 00000 n 0000094848 00000 n 0000094902 00000 n 0000094950 00000 n 0000095025 00000 n 0000095072 00000 n 0000095106 00000 n 0000095140 00000 n 0000095190 00000 n 0000000000 65535 f 0000000000 65535 f 0000095342 00000 n 0000095396 00000 n 0000095442 00000 n 0000095545 00000 n 0000095610 00000 n 0000095778 00000 n 0000096320 00000 n 0000096404 00000 n 0000096441 00000 n 0000096474 00000 n 0000096509 00000 n 0000096546 00000 n 0000096604 00000 n 0000096673 00000 n 0000096743 00000 n 0000096797 00000 n 0000096845 00000 n 0000096920 00000 n 0000096967 00000 n 0000097001 00000 n 0000097035 00000 n 0000097085 00000 n 0000000000 65535 f 0000000000 65535 f 0000097237 00000 n 0000097291 00000 n 0000097337 00000 n 0000097440 00000 n 0000097505 00000 n 0000097673 00000 n 0000098215 00000 n 0000098299 00000 n 0000098336 00000 n 0000098369 00000 n 0000098404 00000 n 0000098441 00000 n 0000098499 00000 n 0000098568 00000 n 0000098638 00000 n 0000098692 00000 n 0000098740 00000 n 0000098815 00000 n 0000098862 00000 n 0000098896 00000 n 0000098930 00000 n 0000098980 00000 n 0000000000 65535 f 0000000000 65535 f 0000099132 00000 n 0000099186 00000 n 0000099232 00000 n 0000099335 00000 n 0000099400 00000 n 0000099568 00000 n 0000100110 00000 n 0000100194 00000 n 0000100231 00000 n 0000100264 00000 n 0000100299 00000 n 0000100336 00000 n 0000100394 00000 n 0000100463 00000 n 0000100533 00000 n 0000100587 00000 n 0000100635 00000 n 0000100710 00000 n 0000100757 00000 n 0000100791 00000 n 0000100825 00000 n 0000100875 00000 n 0000101027 00000 n 0000110834 00000 n 0000110904 00000 n 0000111153 00000 n 0000111519 00000 n 0000111601 00000 n trailer <<69291E94E3CE6234093E43B13EE85E7A>]/Size 328>> startxref 112076 %%EOF