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

Section 2
Disposition versions

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2. An investment made by a qualified investor in a qualified legal person constitutes a qualified investment if, on the date of investment,
(1)  at least 30% of the total amount of qualified investment consists of common shares with full voting rights of the share capital of the qualified legal person, which were paid in cash and issued to a qualified investor as first purchaser;
(2)  the remaining amount of qualified investment, if any, consists of a qualified convertible bond or other debt security or a qualified convertible preferred share which was paid in cash and issued to the qualified investor mentioned in paragraph 1 of this section, as first purchaser.
1992, c. 46, s. 2; 1993, c. 8, s. 1; 1999, c. 40, s. 34.
2. An investment made by a qualified investor in a qualified corporation constitutes a qualified investment if, on the date of investment,
(1)  at least 30 % of the total amount of qualified investment consists of common shares with full voting rights of the share capital of the qualified corporation, which were paid in cash and issued to a qualified investor as first purchaser;
(2)  the remaining amount of qualified investment, if any, consists of a qualified convertible debenture or a convertible preferred share which was paid in cash and issued to the qualified investor mentioned in paragraph 1 of this section, as first purchaser.
1992, c. 46, s. 2; 1993, c. 8, s. 1.
2. An investment made by a qualified investor in a qualified corporation constitutes a qualified investment if, on the date of investment,
(1)  at least 30 % of the total amount of qualified investment consists of common shares with full voting rights of the share capital of the qualified corporation, which were paid in cash and issued to a qualified investor as first purchaser;
(2)  the remaining amount of qualified investment, if any, consists of a qualified convertible debenture which was paid in cash and issued to the qualified investor mentioned in paragraph 1 of this section, as first purchaser.
1992, c. 46, s. 2.
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