EXEMPTION - HOSPITAL RESTRUCTURING

1. No tax is payable under the Act in respect of a conveyance of land or a disposition of a beneficial interest in land to a hospital approved as a public hospital under the Public Hospitals Act or a hospital established or approved as a community psychiatric hospital under the Community Psychiatric Hospitals Act, (a) if the conveyance or disposition is from another hospital; and (b) if the conveyance or disposition takes place in the course of or as a result of an amalgamation of hospitals, the closure of hospital programs or the transfer of a hospital program to the transferee hospital. O. Reg. 676/98, s. 1. 2. Omitted (provides for coming into force of provisions of this Regulation). O. Reg. 676/98, s. 2.