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F-3.2.1 - Act to establish the Fonds de solidarité des travailleurs du Québec (F.T.Q.)

Section 14.1
Disposition versions

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14.1. For the purposes of this Act, “eligible enterprise” means an enterprise in active operation the majority of whose employees are resident in Québec and whose assets are less than $100,000,000 or whose net equity is less than $50,000,000.
For the purposes of this Act, the assets or net equity of an enterprise in which the Fund makes an investment are the assets or net equity shown in its financial statements for the fiscal year ended before the date on which the investment is made, minus the write-up surplus of its property and the incorporeal assets. In the case of an enterprise which has not completed its first fiscal year, the fact that the assets or net equity, as the case may be, of the enterprise are, immediately before the investment, under the limits prescribed in this division in relation to such an investment must be confirmed in writing to the Fund by a chartered accountant.
1983, c. 54, s. 114; 1989, c. 78, s. 7; 1997, c. 62, s. 3; 2005, c. 1, s. 8; 2005, c. 38, s. 34; 2007, c. 12, s. 13; 2012, c. 8, s. 30.
14.1. For the purposes of this Act, “eligible enterprise” means an enterprise in active operation the majority of whose employees are resident in Québec and whose assets are less than $100,000,000 or whose net equity is less than $50,000,000.
For the purposes of this section, the assets or net equity of an enterprise are the assets or net equity shown in its financial statements for the fiscal year ended before the date on which the investment is made, minus the write-up surplus of its property and the incorporeal assets. In the case of an enterprise which has not completed its first fiscal year, the fact that the assets or net equity, as the case may be, of the enterprise are, immediately before the investment, under the limits prescribed in this section must be confirmed in writing to the Fund by a chartered accountant.
1983, c. 54, s. 114; 1989, c. 78, s. 7; 1997, c. 62, s. 3; 2005, c. 1, s. 8; 2005, c. 38, s. 34; 2007, c. 12, s. 13.
14.1. For the purposes of this Act, “qualified undertaking” means an undertaking in active operation the majority of whose employees are resident in Québec and whose assets are less than $100,000,000 or whose net equity is less than $50,000,000.
For the purposes of this section, the assets or net equity of an undertaking are the assets or net equity shown in its financial statements for the fiscal year ended before the date on which the investment is made, minus the write-up surplus of its property and the incorporeal assets. In the case of an undertaking which has not completed its first fiscal year, the fact that the assets or net equity, as the case may be, of the undertaking are, immediately before the investment, under the limits prescribed in this section must be confirmed in writing to the Fund by a chartered accountant.
1983, c. 54, s. 114; 1989, c. 78, s. 7; 1997, c. 62, s. 3; 2005, c. 1, s. 8; 2005, c. 38, s. 34.
14.1. For the purposes of this Act, “qualified undertaking” means
(1)  a Québec undertaking, namely an undertaking in active operation the majority of whose employees are resident in Québec and whose assets are less than $50,000,000 or whose net assets are not over $20,000,000; or
(2)  an undertaking whose activity outside Québec has an impact on the raising or maintenance of the level of employment or the economic activity in Québec or is likely to have such an impact, in the cases and to the extent determined in a policy adopted by the board of directors and approved by the Minister of Finance.
For the purposes of this section, the assets or net assets of a Québec undertaking are the assets or net assets shown in the financial statements for its financial year ended before the date on which the investment is made, minus the write up surplus of its property and incorporeal assets. In the case of an undertaking which has not completed its first financial year, a chartered accountant is required to confirm in writing to the Fund that the assets or net assets, as the case may be, of the undertaking are, immediately before the investment, under the limits prescribed in this section.
1983, c. 54, s. 114; 1989, c. 78, s. 7; 1997, c. 62, s. 3; 2005, c. 1, s. 8.
14.1. For the purposes of this Act, “qualified undertaking” means
(1)  a Québec undertaking, namely an undertaking in active operation the majority of whose employees are resident in Québec and whose assets are less than $50,000,000 or whose net assets are not over $20,000,000; or
(2)  an undertaking whose activity outside Québec has an impact on the raising or maintenance of the level of employment or the economic activity in Québec or is likely to have such an impact, in the cases and to the extent determined in a policy adopted by the board of directors and approved by the Minister of Finance.
For the purposes of this section, the assets or net assets of a Québec undertaking are the assets or net assets shown in the financial statements for its financial year ended before the date on which the investment is made, minus the write up surplus of its property and intangible assets. In the case of an undertaking which has not completed its first financial year, a chartered accountant is required to confirm in writing to the Fund that the assets or net assets, as the case may be, of the undertaking are, immediately before the investment, under the limits prescribed in this section.
1983, c. 54, s. 114; 1989, c. 78, s. 7; 1997, c. 62, s. 3.
14.1. For the purposes of this Act, “Québec undertaking” means an undertaking in active operation the majority of whose employees are resident in Québec and whose assets are less than $50 000 000 or whose net assets are not over $20 000 000.
For the purposes of this section, the assets or net assets of a Québec undertaking are the assets or net assets shown in the financial statements for its financial year ended before the date on which the investment is made, minus the write up surplus of its property and intangible assets. In the case of an undertaking which has not completed its first financial year, a chartered accountant is required to confirm in writing to the Fund that the assets or net assets, as the case may be, of the undertaking are, immediately before the investment, under the limits prescribed in this section.
1983, c. 54, s. 114; 1989, c. 78, s. 7.
14.1. For the purposes of this Act, “Québec undertaking” means an undertaking in active operation the majority of whose employees are resident in Québec and whose assets are less than $25 000 000 or whose net assets are less than $10 000 000.
For the purposes of this section, the assets or net assets of a Québec undertaking are the assets or net assets shown in the financial statements for its financial year ended before the date on which the investment is made, minus the write up surplus of its property and intangible assets. In the case of an undertaking which has not completed its first financial year, a chartered accountant is required to confirm in writing to the Fund that the assets or net assets, as the case may be, of the undertaking are, immediately before the investment, under the limits prescribed in this section.
1983, c. 54, s. 114.
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