I-3 - Taxation Act

Section 965.17.3 Disposition versions

2017-12-07

965.17.3. (Repealed).

1992, c. 1, s. 123; 1996, c. 39, s. 273; 1997, c. 3, s. 71; 1999, c. 83, s. 144; 2002, c. 9, s. 31; 2017, c. 29, s. 166.

2006-03-01

965.17.3. A qualified corporation making a public share issue, a convertible security issue or a non-guaranteed convertible security issue is also a growth corporation if, on the date of the receipt for the final prospectus or of the exemption from filing a prospectus,

(a)  its head office or principal place of business is in Québec;

(b)  substantially all its property consists of shares of the capital stock of one or more of its subsidiary controlled corporations or of loans or advances granted to such subsidiary corporations;

(c)  one of the subsidiary corporations referred to in paragraph b

i.  whose control was acquired by the qualified corporation more than 12 months before that date fulfills, subject to section 965.17.3.1, the requirements of subparagraphs a to e of the first paragraph of section 965.17.2, or

ii.  that results from an amalgamation, within the meaning of section 544, within the 365 days before that date, fulfills the requirements of subparagraphs a, b, d and e of the first paragraph of section 965.17.2 and paragraph b of section 965.17.5, and one of the predecessor corporations whose control was acquired by the qualified corporation more than 12 months before that date fulfilled, subject to sections 965.17.3.1 and 965.17.3.2, immediately before that date, all the requirements to qualify as a growth corporation other than the requirement to make a public share issue, a convertible security issue or a non-guaranteed convertible security issue; and

iii.  meets the conditions set out in section 965.17.3.3; and

(d)  the main activity of the corporation and of its subsidiaries is the carrying on of a qualified business.

1992, c. 1, s. 123; 1996, c. 39, s. 273; 1997, c. 3, s. 71; 1999, c. 83, s. 144; 2002, c. 9, s. 31.