Included in the 2007 Federal Budget announced on March 19, 2007, were certain proposed amendments to the concept of a "prescribed stock exchange" for purposes of the Income Tax Act (Canada) (the "Act"). These changes were instigated in large part by perceived problems with section 116 of the Act.
While an amendment to the definition of "prescribed stock exchange" does not address the principal concerns with section 116, the amendments do have some significant effects.

type Tax Law Bulletin - April 2007 - Amendments to the Definition of "Prescribed Stock Exchange" Assist Canadian Corporations in Attracting Foreign Investors