Section 115.1 — Income Tax Act: Competent authority agreements

Notwithstanding any other provision of this Act, where the Minister and another person have, under a provision contained in a tax convention or agreement with another country that has the force of law in Canada, entered into an agreement with respect to the taxation of the other person, all determinations made in accordance with the terms and conditions of the agreement shall be deemed to be in accordance with this Act. Where rights and obligations under an agreement described in subsection 115.1(1) have been transferred to another person with the concurrence of the Minister, that other person shall be deemed, for the purpose of subsection 115.1(1), to have entered into the agreement with the Minister.