Section 262 — Income Tax Act: Authority to designate stock exchange

The Minister of Finance may designate a stock exchange, or a part of a stock exchange, for the purposes of this Act. The Minister of Finance may revoke the designation of a stock exchange, or a part of a stock exchange, designated under subsection (1). A designation under subsection (1) or a revocation under subsection (2) shall specify the time at and after which it is in effect, which time may, for greater certainty, precede the time at which the designation or revocation is made. The Minister of Finance shall cause to be published, by posting on the Internet website of the Department of Finance or by any other means that the Minister of Finance considers appropriate, the names of those stock exchanges, or parts of stock exchanges, as the case may be, that are or at any time were designated under subsection (1). The Minister of Finance is deemed to have designated under subsection (1) each stock exchange and each part of a stock exchange that was, immediately before the day on which this section came into force, a prescribed stock exchange, with effect on and after that day.