put option on the pound sterling [ pound sterling put option | put option on the British pound | British pound put option ]

(1.1) For the purposes of this Part, if a recipient of a supply by way of lease, licence or similar arrangement of tangible personal property exercises an option to purchase the property that is provided for under the arrangement and the recipient begins to have possession of the property under the agreement of purchase and sale of the property at the same time and place as the recipient ceases to have possession of the property as lessee or licensee under the arrangement, that time and place is, for greater certainty, deemed to be the time and place at which the property is delivered ...[+++] or made available to the recipient in respect of the supply by way of sale of the property to the recipient.

(1.1) No tax is payable in respect of a supply by way of sale (other than a sale resulting from the exercise, after 1990, of an option to purchase contained in a lease, licence or similar arrangement) of tangible personal property to the extent that the property was delivered, or ownership thereof was transferred, to the recipient before 1991 in accordance with the terms of an agreement in writing entered into before 1991 for the supply.

Although sales in the English language are dominated by books from outside the country, approximately 30% of all the books sold in this country are Canadian-authored books.

U.S. companies still do 60% of all the sales in the English language in Canada, but the track record on publishing until about 10 years ago was that less than 5% of all the books published in this country were published by the companies that did 60% to 70% of all the sales.