A-33.01 - Act to promote the capitalization of small and medium-sized businesses

Section 10 Disposition versions

1999-10-22

10. A qualified convertible debt security is a bond or other debt security which meets the following requirements:

(1)  it was paid and issued after 19 June 1991, in respect of a debt of a corporation and acquired by a qualified investor for cash consideration;

(2)  it is not guaranteed, directly or indirectly, by the qualified corporation or by any other person;

(3)  it has a minimum term of 60 months and a maximum term of 84 months from the date of the qualified investment;

(4)  it is convertible, under its conditions of issue, at any time within the term of the qualified investment, into common shares carrying full voting rights of the share capital of the qualified corporation;

(5)  it is subject to conversion on or before its maturity date into common shares carrying full voting rights of the share capital of the qualified legal person.

1992, c. 46, s. 10; 1993, c. 8, s. 2; 1999, c. 40, s. 34.

1993-04-20

10. A qualified convertible debenture is a debenture which meets the following requirements:

(1)  it was paid and issued after 19 June 1991, in respect of a debt of a corporation and acquired by a qualified investor for cash consideration;

(2)  it is not guaranteed, directly or indirectly, by the qualified corporation or by any other person or corporation;

(3)  it has a minimum term of 60 months and a maximum term of 84 months from the date of the qualified investment;

(4)  it is convertible, under its conditions of issue, at any time within the term of the qualified investment, into common shares carrying full voting rights of the share capital of the qualified corporation;

(5)  it is subject to conversion on or before its maturity date into common shares carrying full voting rights of the share capital of the qualified corporation.

1992, c. 46, s. 10; 1993, c. 8, s. 2.

1992-06-23

10. A qualified convertible debenture is a debenture

(1)  paid and issued after 19 June 1991, in respect of a debt of a corporation and acquired by a qualified investor for cash consideration;

(2)  not guaranteed, directly or indirectly, by the qualified corporation or by any other person or corporation;

(3)  having a minimum term of 60 months and a maximum term of 84 months from the date of the qualified investment;

(4)  convertible, under its conditions of issue, at any time within the term of the qualified investment, into common shares carrying full voting rights of the share capital of the corporation;

(5)  subject to mandatory conversion on or before its maturity date.

1992, c. 46, s. 10.