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A-33.01 - Act to promote the capitalization of small and medium-sized businesses
Section 10.1
Disposition versions
10.1. A qualified convertible preferred share is a preferred share which meets the following requirements:
(1) it was paid and issued after 14 May 1992 and acquired by a qualified investor for cash consideration;
(2) it is issued for a minimum term of 60 months;
(3) it is, under its conditions of issue, convertible at any time within the term of the qualified investment into common shares carrying full voting rights of the share capital of the qualified legal person;
(4) it is subject to conversion, at or before the end of the eighty-fourth month following the date of the qualified investment, into common shares carrying full voting rights of the share capital of the qualified legal person.
10.1. A qualified convertible preferred share is a preferred share which meets the following requirements:
(1) it was paid and issued after 14 May 1992 and acquired by a qualified investor for cash consideration;
(2) it is issued for a minimum term of 60 months;
(3) it is, under its conditions of issue, convertible 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;
(4) it is subject to conversion, at or before the end of the 84th month following the date of the qualified investment, into common shares carrying full voting rights of the share capital of the qualified corporation.
