T-0.1 - Act respecting the Québec sales tax

Section 433.15.8 Disposition versions

2015-10-21

433.15.8. An investment plan that does not meet the condition of paragraph a of section 9 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations made under the Excise Tax Act (R.S.C. 1985, c. E-15) during the taxation year of the investment plan in which a particular fiscal year ends may file an application with the Minister, in the manner determined by the Minister, in the prescribed form containing prescribed information, on or before the 90th day before the first day of the particular fiscal year, or any later day determined by the Minister, to have the investment plan not be a selected listed financial institution throughout a reporting period included in the particular fiscal year or the following fiscal year.

Within 90 days of receiving the application of an investment plan in respect of a particular fiscal year of the investment plan and the following fiscal year, the Minister shall consider the application, approve or refuse it, according to whether it is reasonable, based on the information in the possession of the Minister, to expect that the investment plan will be a qualifying small investment plan for those two fiscal years, and shall, within that time limit, notify the investment plan of the decision in writing.

An application filed under the first paragraph that is approved by the Minister for a particular fiscal year of an investment plan and for the following fiscal year of the investment plan is deemed not to have been approved for the following fiscal year if the investment plan meets, for the following fiscal year, the condition of paragraph a of section 9 of the Selected Listed Financial Institutions Attribution Method (GST/HST) Regulations.

2015, c. 21, s. 748.