View this guide to learn how to perform a Section 85 Intra Share Transaction in eCorp
Perform a Section 85 Intra Share Transaction
The class of shares which are being issued in the transaction is considered the Target Class. eCorp will require the Target Class of shares they are being issued to be selected as Redeemable and or Retractable and have S85/86 selected.
Below are steps on how to check for this or change this detail:
1. Open the company
2. Go to Finance
3. Select the Class Name
4. Review the special rights and restrictions that are selected
a. Ensure below is selected
i. Retractable, OR
ii. Redeemable AND
iii. S85/86
5. If these options are not selected, select Edit under Things to Do and select the appropriate items, then select save
Perform the S85 Intra Share Exchange
1. Go to Finance
2. Select Share Transactions
3. Select Section 85 Intra
4. Select the effective date from the calendar – DATE MUST BE SELECTED FROM CALENDAR
5. Select the Source shareholder and select and fill in the share detail
6. Select the Target Class and select and fill in the target share detail
7. If this is the only S85 Intra transaction you are performing as of this date, select your required documents. Otherwise, just select submit and generate documents later.
Generate Target Documents
1. Go to Pending Matters
2. Select the pending matter
3. Choose to edit the transaction
4. Select the documents you require
5. Select submit