3. (1) For the purposes of this Act, a person who has entered into a transaction with another person otherwise than at arm’s length shall be deemed to have entered into a reviewable transaction.

(2) It is a question of fact whether persons not related to one another within the meaning of section 4 were at a particular time dealing with each other at arm’s length.

(3) Persons related to each other within the meaning of section 4 shall be deemed not to deal with each other at arm’s length while so related.

R.S., 1985, c. B-3, s. 3; 1997, c. 12, s. 3(F).