I-3, r. 1 - Regulation respecting the Taxation Act

Section 360r97 Disposition versions

2012-09-01

360R97. In this division, an eligible corporation is a corporation all of whose activities consist mainly in mining, oil or gas exploration or the development of a mineral resource, a natural accumulation of petroleum or natural gas or an oil or gas well and which, at the time the expenses referred to in paragraph e of section 395 of the Act are incurred or at the time the expenses in respect of which an amount is renounced under section 359.2 of the Act are incurred, as the case may be, and throughout the 12-month period prior to that time, fulfils the following conditions:

(a)  it does not operate a mineral resource, a natural accumulation of petroleum or natural gas or an oil or gas well; and

(b)  it is not controlled by another corporation that operates a mineral resource, a natural accumulation of petroleum or natural gas or an oil or gas well.

s. 360R56.2; O.C. 1239-86, s. 2; O.C. 1746-88, s. 6; O.C. 91-94, s. 42; O.C. 1707-97, s. 98; O.C. 1466-98, s. 55; O.C. 134-2009, s. 1.