208. No Québec company may acquire or hold more than 10% of the voting shares of a legal person other than its subsidiary.
Shares held by the subsidiary, except in the case of a subsidiary whose business consists in dealing in securities, are deemed held by the company.
A company may exceed the limit fixed in the first paragraph where it acquires shares following the liquidation of a security. It shall, however, dispose of the shares after the expiry of a two-year period if, at that time, it exceeds the prescribed limit.