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I-3 - Taxation Act

Section 1049.2.10
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Full text
1049.2.10. (Repealed).
1990, c. 7, s. 187; 1992, c. 1, s. 197; 1997, c. 3, s. 71; 2003, c. 9, s. 382; 2017, c. 29, s. 201.
1049.2.10. Where a corporation is, in a year, a corporation described in the first paragraph of section 965.24.2 and it certifies falsely in the written notice contemplated in the first paragraph of the said section that, on 30 June in the year, it would not have been a qualified corporation by reason of the first paragraph of any of sections 965.11.11, 965.11.13 and 965.11.17, had that first paragraph applied on that date, it incurs a penalty equal to 25% of the adjusted cost, determined under section 965.6, of each share distributed in Québec, in the year following that year, to an individual other than a trust, to an investment group or to an investment fund under the exemption from filing a prospectus contemplated in the first paragraph of that section.
1990, c. 7, s. 187; 1992, c. 1, s. 197; 1997, c. 3, s. 71; 2003, c. 9, s. 382.
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