I-3 - Taxation Act

Section 965.10.1.3 Disposition versions

2017-12-07

965.10.1.3. (Repealed).

2004, c. 21, s. 227; 2017, c. 29, s. 166.

2006-03-01

965.10.1.3. For the purposes of subparagraph i of paragraph e of section 965.10, a corporation is deemed to have had not fewer than five full-time employees who are not insiders within the meaning of section 89 of the Securities Act (chapter V-1.1) or persons related to such insiders, where

(a)  a class of shares of its capital stock is, throughout the 12-month period preceding the date of the receipt for the final prospectus or of the exemption from filing a prospectus, listed on a Canadian stock exchange; and

(b)  a person, other than such an insider or a person related thereto, or a partnership provides the corporation, in the period referred to in paragraph a, with services under a service contract and the corporation would normally require the services of more than five full-time employees if those services were not provided.

2004, c. 21, s. 227.