Versions of s. 7(11)

For the purpose of paragraph (10)(c), the specified value of a particular security acquired by a taxpayer under an agreement referred to in subsection (1) is the amount determined by the formula A/B where A is the fair market value, determined at the time the agreement was made, of a security that was the subject of the agreement at the time the agreement was made; and B is except where paragraph (b) applies, 1, and where the number or type of securities that are the subject of the agreement has been modified in any way after the time the agreement was made, the number of securities (including any fraction of a security) that it is reasonable to consider the taxpayer would, at the time the particular security was acquired, have a right to acquire under the agreement in lieu of one of the securities that was the subject of the agreement at the time the agreement was made.