Mr. Ted Cook at the Finance Committee

October 31st, 2012 / 4:45 p.m.

Senior Legislative Chief, Tax Legislation Division, Tax Policy Branch, Department of Finance

I'm just going to confirm here....

I believe you're absolutely correct. Our definition is actually of “specified employee”, and so this applies to specified employees. Specified employees have a particular relationship, usually a significant interest—more than a 10% interest—in their employer.

I'm just going to confirm that.

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