Reserve contribution limits for financial corporations adjusted to permit higher allocations for smaller capitalised firms, standard limit retained for others. Amendment replaces the uniform ten per cent ceiling in section 36(1)(viii) with a tiered rule: financial corporations whose paid-up share capital is at or ... Summary
Reserve contribution limits for financial corporations adjusted to permit higher allocations for smaller capitalised firms, standard limit retained for others.
Amendment replaces the uniform ten per cent ceiling in section 36(1)(viii) with a tiered rule: financial corporations whose paid-up share capital is at or below the statutory small-capital threshold may carry a larger proportion of total income to the reserve account, while other financial corporations remain subject to the standard, lower percentage limit.
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