Section 204.84 — Income Tax Act: Penalty

Every corporation that for a taxation year issues an information return described in paragraph 204.81(6)(c) in respect of the issuance of a share when the corporation was a revoked corporation, or a subscription in respect of a share if the share is not issued on or before the day that is 180 days after the day the information return was issued, is liable to a penalty for the year equal to the amount of the consideration for which the share was or was to be issued.