Section 234 — Income Tax Act: Ownership certificates

Before the bearer coupon or warrant representing either interest or dividends payable by any debtor or cheque representing dividends or interest payable by a non-resident debtor is negotiated by or on behalf of a resident of Canada, there shall be completed by or on behalf of the resident an ownership certificate in prescribed form. An ownership certificate completed pursuant to subsection 234(1) shall be delivered in such manner, at such time and at such place as may be prescribed. The operation of this section may be extended by regulation to bearer coupons or warrants negotiated by or on behalf of non-resident persons.