A-33.01 - Act to promote the capitalization of small and medium-sized businesses

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10. A qualified convertible debt security is a bond or other debt security which meets the following requirements:
(1)  it was paid and issued after 19 June 1991, in respect of a debt of a corporation and acquired by a qualified investor for cash consideration;
(2)  it is not guaranteed, directly or indirectly, by the qualified corporation or by any other person;
(3)  it has a minimum term of 60 months and a maximum term of 84 months from the date of the qualified investment;
(4)  it is convertible, under its conditions of issue, at any time within the term of the qualified investment, into common shares carrying full voting rights of the share capital of the qualified corporation;
(5)  it is subject to conversion on or before its maturity date into common shares carrying full voting rights of the share capital of the qualified legal person.
1992, c. 46, s. 10; 1993, c. 8, s. 2; 1999, c. 40, s. 34.
10. A qualified convertible debenture is a debenture which meets the following requirements:
(1)  it was paid and issued after 19 June 1991, in respect of a debt of a corporation and acquired by a qualified investor for cash consideration;
(2)  it is not guaranteed, directly or indirectly, by the qualified corporation or by any other person or corporation;
(3)  it has a minimum term of 60 months and a maximum term of 84 months from the date of the qualified investment;
(4)  it is convertible, under its conditions of issue, at any time within the term of the qualified investment, into common shares carrying full voting rights of the share capital of the qualified corporation;
(5)  it is subject to conversion on or before its maturity date into common shares carrying full voting rights of the share capital of the qualified corporation.
1992, c. 46, s. 10; 1993, c. 8, s. 2.
10. A qualified convertible debenture is a debenture
(1)  paid and issued after 19 June 1991, in respect of a debt of a corporation and acquired by a qualified investor for cash consideration;
(2)  not guaranteed, directly or indirectly, by the qualified corporation or by any other person or corporation;
(3)  having a minimum term of 60 months and a maximum term of 84 months from the date of the qualified investment;
(4)  convertible, under its conditions of issue, at any time within the term of the qualified investment, into common shares carrying full voting rights of the share capital of the corporation;
(5)  subject to mandatory conversion on or before its maturity date.
1992, c. 46, s. 10.