I-3, r. 1 - Regulation respecting the Taxation Act

Section 119.2r2 Disposition versions

2016-02-17

119.2R2. For the purposes of section 119.2R1, a cooperative is a cooperative incorporated under a statute of Québec, of another province or of Canada for the purposes of marketing natural products belonging to its members or customers or acquired from those persons, carrying out any processing operation necessary or related to that marketing, purchasing supplies, materials or necessary household articles for its members or customers, or for resale to its members or customers, or for furnishing services to them and for which

(a)  the Act under which it was incorporated, its charter, articles of association, by-laws or contracts with its members or customers, give reason to believe that payments will be made to them in proportion to their purchases;

(b)  none of the members, except other cooperatives, has more than one vote in the conduct of the corporation’s business;

(c)  at least 90% of the members are individuals, other cooperatives, or corporations or partnerships that carry on the business of farming; and

(d)  at least 90% of its shares are held by members described in paragraph c or by trusts governed by TSFAs, registered retirement income funds, registered education savings plans or registered retirement savings plans, the annuitants, holders or subscribers under which are members described in that paragraph.

s. 119.2R3; O.C. 2962-82, s. 8; O.C. 500-83, s. 8; O.C. 67-96, s. 17; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1; O.C. 66-2016, s. 1.

2012-09-01

119.2R2. For the purposes of section 119.2R1, a cooperative is a cooperative incorporated under a statute of Québec, of another province or of Canada for the purposes of marketing natural products belonging to its members or customers or acquired from those persons, carrying out any processing operation necessary or related to that marketing, purchasing supplies, materials or necessary household articles for its members or customers, or for resale to its members or customers, or for furnishing services to them and for which

(a)  the Act under which it was incorporated, its charter, articles of association, by-laws or contracts with its members or customers, give reason to believe that payments will be made to them in proportion to their purchases;

(b)  none of the members, except other cooperatives, has more than one vote in the conduct of the corporation’s business; and

(c)  at least 90% of the members are individuals, other cooperatives, or corporations or partnerships carrying on a farming business, holding at least 90% of its shares.

s. 119.2R3; O.C. 2962-82, s. 8; O.C. 500-83, s. 8; O.C. 67-96, s. 17; O.C. 1707-97, s. 98; O.C. 134-2009, s. 1.