C-78.1 - Act to promote forest credit by private institutions

Section 4 Disposition versions

1999-10-22

4. Every applicant must, to obtain a certificate, be resident in Québec.

For the purposes of this Act, “resident in Québec”,

(1)  in the case of a natural person, means domiciled in Québec;

(2)  in the case of a legal person with share capital, means

(a)  having its head office in Québec;

(b)  not directly or indirectly controlled by one or several persons not resident in Québec;

(c)  having share capital of which more than 50% in number and value of the issued shares carrying full voting rights are owned by one or several persons resident in Québec;

(3)  in the case of a partnership, means

(a)  having its principal establishment in Québec;

(b)  composed of members more than one-half of whom are persons resident in Québec who own interests representing more than 50% of the aggregate value of the partnership property;

(4)  in the case of a cooperative or a professional syndicate, means

(a)   having its head office in Québec;

(b)  composed of members more than one-half of whom are persons resident in Québec;

(5)  in the case of a group of persons contemplated in paragraph 3 of section 3, means composed of persons resident in Québec within the meaning of paragraph 1, 2, 3 or 4.

1983, c. 16, s. 4; 1999, c. 40, s. 98.

1984-06-30

4. Every applicant must, to obtain a certificate, be resident in Québec.

For the purposes of this Act, “resident in Québec”,

(1)  in the case of a natural person, means domiciled in Québec;

(2)  in the case of a corporation with share capital, means

(a)  having its head office and principal place of business in Québec;

(b)  not directly or indirectly controlled by one or several persons not resident in Québec;

(c)  having share capital of which more than 50 % in number and value of the issued shares carrying full voting rights are owned by one or several persons resident in Québec;

(3)  in the case of a partnership within the meaning of the Civil Code of Lower Canada, means

(a)  having its and principal place of business in Québec;

(b)  composed of members more than one-half of whom are persons resident in Québec who own interests representing more than 50 % of the aggregate value of the partnership property;

(4)  in the case of a cooperative or a professional syndicate, means

(a)   having its head office and principal place of business in Québec;

(b)  composed of members more than one-half of whom are persons resident in Québec;

(5)  in the case of a group of persons contemplated in paragraph 3 of section 3, means composed of persons resident in Québec within the meaning of paragraph 1, 2, 3 or 4.

1983, c. 16, s. 4.