Notes

1‘Independent economic activity’ and continuing the business

The assets transferred must be sufficient for a person to undertake an independent economic activity. It must be more than the simple transfer of assets, such as the sale of stock. Also, the transferee must intend to operate the business or the part of the undertaking transferred and not simply to immediately liquidate the activity concerned (Zita Modes Sàrl v Administration de l'enregistrement et des domains [2005] BVC 772).

2Factors to be considered

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