37.1.2R1. For the purposes of section 37.1.2 of the Act, a prescribed corporation for a taxation year means any corporation whose gross revenue, within the meaning of section 1 of the Taxation Act (chapter I-3), for that year exceeds $1,000,000, except
(a) an insurance corporation within the meaning of section 1 of the Taxation Act;
(b) a corporation not resident in Canada;
(c) a corporation reporting in elected functional currency within the meaning of section 21.4.16 of the Taxation Act; and
(d) a corporation that is exempt under Title I of Book VIII of Part I of the Taxation Act from tax payable.
For the purposes of the first paragraph, a corporation is considered to be a corporation resident in Canada if it is considered to reside there for the purposes of the Taxation Act and to be a corporation not resident in Canada in all other cases.