When Shares Are Transferred from One Group of Shareholders to Another

When shares are transferred from one group of shareholders to another and there is a change in control, which of the following is correct?

A) Net capital losses arising prior to the change in control will be lost and any non-capital losses arising prior to the change in control may be used if the business that incurred the loss is terminated.
B) Non-capital business losses arising prior to the change in control may be used against income from the business that incurred the loss if that business is carried on at a profit or reasonable expectation of profit in the year in which the losses are
Applied.
C) Non-capital losses are automatically deemed to have expired.
D) Any net capital losses that arise following the change in control will be lost.