C-72.1, r. 2 - Regulation respecting Standardbred horse racing

Section 6 Disposition versions

2012-09-01

6. Where the owner is a legal person, the persons who must apply for and hold a horse owner’s licence are the following:

(1)  in the case of a legal person with less than 10 shareholders:

(a)  the legal person;

(b)  every director;

(c)  every shareholder;

(2)  in the case of a legal person with more than 10 shareholders, but less than 50:

(a)  the legal person;

(b)  every director;

(c)  every shareholder holding or controlling a certain number of shares giving him 20% or more of the voting rights in the legal person;

(3)  in the case of a legal person with more than 50 shareholders or which is listed on a Canadian stock exchange:

(a)  the legal person;

(b)  every director or where applicable, every member of the executive committee or of the board of directors;

(c)  every person acting as chairman, secretary or holding a similar office;

(d)  the person responsible within the legal person for the activities for which the licence is required;

(e)  every shareholder holding or controlling a certain number of shares giving him 10% or more of the voting rights in the legal person;

(4)  in the case of a general or undeclared partnership:

(a)  the partnership;

(b)  the manager or any person holding a similar office;

(c)  every partner;

(5)  in the case of a limited partnership:

(a)  the limited partnership;

(b)  the general partner and, where the general partner is a legal person or a general or undeclared partnership, the persons covered by paragraphs 1, 2, 3 and 4;

(c)  the manager of the general partner or any person holding a similar office.

O.C. 2567-83, s. 6.