T-0.1 - Act respecting the Québec sales tax

Section 407.6.1 Disposition versions

2015-10-21

407.6.1. The following rules apply in respect of a group described in the second paragraph:

(1)  the group is required to be registered;

(2)  each member of the group is deemed to be a registrant; and

(3)  despite sections 407 to 407.6, no member of the group is required to be separately registered.

For the purposes of the first paragraph, a group is made up of the selected listed financial institutions that have, jointly with their manager, made an election referred to in the first or third paragraph of section 470.5.

Where a selected listed financial institution becomes, on a particular day, a member of an existing group that is registered or required to be registered, the following rules apply:

(1)  the financial institution is deemed to be a registrant as of the particular day; and

(2)  despite sections 407 to 407.6, the financial institution is not required to be separately registered as of the particular day.

In this division, “manager” has the meaning assigned by section 433.15.1.

2015, c. 21, s. 732.