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

Section 20
Disposition versions

Full text
20. The Government may make regulations to
(1)  determine the information, authorizations, attestations, reports or documents that a legal person or investor must furnish to the body designated under section 1 and the time at which they must be filed, and determine the form of such reports, authorizations and attestations and the information they must contain;
(2)  determine what constitutes the assets of a legal person and its shareholders’ equity, including those of a legal person associated with the legal person, and the method of computing them;
(3)  determine the sectors of activity in which a legal person referred to in section 3 is required to operate, except the activities it determines;
(4)  define the expressions “associated legal persons”, “fledgling legal person”, “significant interest”, “employee”, “arm’s length”, “related legal person”, “related persons”, “publicly known” and “term of qualified investment”;
(5)  determine for the purposes of this Act the meaning of “designated venture capital legal person” and establish the criteria according to which the body designated under section 1 may recognize a “legal person publicly known as a venture capital legal person” and an “authorized venture capital legal person”;
(6)  determine the conditions which must be met by a qualified legal person and a qualified investor during the term of a qualified investment;
(7)  while ensuring that the objectives of this Act with regard to the promotion of capitalization are respected and maintained, require that certain transactions be subject to the prior authorization of the body designated under section 1 in respect of
(a)  the sector of activity in which a qualified legal person is required to operate during the term of a qualified investment;
(b)  the use of funds resulting from a qualified investment by a qualified legal person;
(c)  substantial cash outflows that may be made by a qualified legal person;
(8)  determine tariffs of duties and fees payable to the body designated under section 1 in respect of any act performed by it under this Act.
1992, c. 46, s. 20; 1994, c. 3, s. 1; 1998, c. 17, s. 64; 1999, c. 40, s. 34; 2001, c. 69, s. 12; 2010, c. 37, s. 103.
20. The Government may make regulations to
(1)  determine the information, authorizations, attestations, reports or documents that a legal person or investor must furnish to La Financière du Québec and the time at which they must be filed, and determine the form of such reports, authorizations and attestations and the information they must contain;
(2)  determine what constitutes the assets of a legal person and its shareholders’ equity, including those of a legal person associated with the legal person, and the method of computing them;
(3)  determine the sectors of activity in which a legal person referred to in section 3 is required to operate, except the activities it determines;
(4)  define the expressions “associated legal persons”, “fledgling legal person”, “significant interest”, “employee”, “arm’s length”, “related legal person”, “related persons”, “publicly known” and “term of qualified investment”;
(5)  determine for the purposes of this Act the meaning of “designated venture capital legal person” and establish the criteria according to which La Financière du Québec may recognize a “legal person publicly known as a venture capital legal person” and an “authorized venture capital legal person”;
(6)  determine the conditions which must be met by a qualified legal person and a qualified investor during the term of a qualified investment;
(7)  while ensuring that the objectives of this Act with regard to the promotion of capitalization are respected and maintained, require that certain transactions be subject to the prior authorization of La Financière du Québec in respect of
(a)  the sector of activity in which a qualified legal person is required to operate during the term of a qualified investment;
(b)  the use of funds resulting from a qualified investment by a qualified legal person;
(c)  substantial cash outflows that may be made by a qualified legal person;
(8)  determine tariffs of duties and fees payable to La Financière du Québec in respect of any act performed by it under this Act.
1992, c. 46, s. 20; 1994, c. 3, s. 1; 1998, c. 17, s. 64; 1999, c. 40, s. 34; 2001, c. 69, s. 12.
20. The Government may make regulations to
(1)  determine the information, authorizations, attestations, reports or documents that a legal person or investor must furnish to Garantie Québec and the time at which they must be filed, and determine the form of such reports, authorizations and attestations and the information they must contain;
(2)  determine what constitutes the assests of a legal person and its shareholders’ equity, including those of a legal person associated with the legal person, and the method of computing them;
(3)  determine the sectors of activity in which a legal person referred to in section 3 is required to operate, except the activities it determines;
(4)  define the expressions “associated legal persons”, “fledgling legal person”, “significant interest”, “employee”, “arm’s length”, “related legal person”, “related persons”, “publicly known” and “term of qualified investment”;
(5)  determine for the purposes of this Act the meaning of “designated venture capital legal person” and establish the criteria according to which Garantie Québec may recognize a “legal person publicly known as a venture capital legal person” and an “authorized venture capital legal person”;
(6)  determine the conditions which must be met by a qualified legal person and a qualified investor during the term of a qualified investment;
(7)  while ensuring that the objectives of this Act with regard to the promotion of capitalization are respected and maintained, require that certain transactions be subject to the prior authorization of Garantie Québec in respect of
(a)  the sector of activity in which a qualified legal person is required to operate during the term of a qualified investment;
(b)  the use of funds resulting from a qualified investment by a qualified legal person;
(c)  substantial cash outflows that may be made by a qualified legal person;
(8)  determine tariffs of duties and fees payable to Garantie Québec in respect of any act performed by it under this Act.
1992, c. 46, s. 20; 1994, c. 3, s. 1; 1998, c. 17, s. 64; 1999, c. 40, s. 34.
20. The Government may make regulations to
(1)  determine the information, authorizations, attestations, reports or documents that a corporation or investor must furnish to Garantie-Québec and the time at which they must be filed, and determine the form of such reports, authorizations and attestations and the information they must contain;
(2)  determine what constitutes the assests of a corporation and its shareholders’ equity, including those of a corporation associated with the corporation, and the method of computing them;
(3)  determine the sectors of activity in which a corporation referred to in section 3 is required to operate, except the activities it determines;
(4)  define the expressions “associated corporations”, “fledgling corporation”, “significant interest”, “employee”, “arm’s length”, “related corporation”, “related persons”, “publicly known” and “term of qualified investment”;
(5)  determine for the purposes of this Act the meaning of “designated venture capital corporation” and establish the criteria according to which Garantie-Québec may recognize a “corporation publicly known as a venture capital corporation” and an “authorized venture capital corporation”;
(6)  determine the conditions which must be met by a qualified corporation and a qualified investor during the term of a qualified investment;
(7)  while ensuring that the objectives of this Act with regard to the promotion of capitalization are respected and maintained, require that certain transactions be subject to the prior authorization of Garantie-Québec in respect of
(a)  the sector of activity in which a qualified corporation is required to operate during the term of a qualified investment;
(b)  the use of funds resulting from a qualified investment by a qualified corporation;
(c)  substantial cash outflows that may be made by a qualified corporation;
(8)  determine tariffs of duties and fees payable to Garantie-Québec in respect of any act performed by it under this Act.
1992, c. 46, s. 20; 1994, c. 3, s. 1; 1998, c. 17, s. 64.
20. The Government may make regulations to
(1)  determine the information, authorizations, attestations, reports or documents that a corporation or investor must furnish to the Société de développement industriel du Québec and the time at which they must be filed, and determine the form of such reports, authorizations and attestations and the information they must contain;
(2)  determine what constitutes the assests of a corporation and its shareholders’ equity, including those of a corporation associated with the corporation, and the method of computing them;
(3)  determine the sectors of activity in which a corporation referred to in section 3 is required to operate, except the activities it determines;
(4)  define the expressions “associated corporations”, “fledgling corporation”, “significant interest”, “employee”, “arm’s length”, “related corporation”, “related persons”, “publicly known” and “term of qualified investment”;
(5)  determine for the purposes of this Act the meaning of “designated venture capital corporation” and establish the criteria according to which the Société de développement industriel du Québec may recognize a “corporation publicly known as a venture capital corporation” and an “authorized venture capital corporation”;
(6)  determine the conditions which must be met by a qualified corporation and a qualified investor during the term of a qualified investment;
(7)  while ensuring that the objectives of this Act with regard to the promotion of capitalization are respected and maintained, require that certain transactions be subject to the prior authorization of the Société de développement industriel du Québec in respect of
(a)  the sector of activity in which a qualified corporation is required to operate during the term of a qualified investment;
(b)  the use of funds resulting from a qualified investment by a qualified corporation;
(c)  substantial cash outflows that may be made by a qualified corporation;
(8)  determine tariffs of duties and fees payable to the Société de développement industriel du Québec in respect of any act performed by it under this Act.
1992, c. 46, s. 20; 1994, c. 3, s. 1.
20. The Government may make regulations to
(1)  determine the information, authorizations, attestations, reports or documents that a corporation or investor must furnish to the Société de développement industriel du Québec and the time at which they must be filed, and determine the form of such reports, authorizations and attestations and the information they must contain;
(2)  determine what constitutes the assests of a corporation and its shareholders’ equity, including those of a corporation associated with the corporation, and the method of computing them;
(3)  determine the sectors of activity in which a corporation referred to in section 3 is required to operate, except the activities it determines;
(4)  define the expressions “associated corporations”, “fledgling corporation”, “significant interest”, “employee”, “arm’s length”, “related corporation”, “related persons”, “publicly known” and “term of qualified investment”;
(5)  determine for the purposes of this Act the meaning of “designated venture capital corporation” and establish the criteria according to which the Société de développement industriel du Québec may recognize a “corporation publicly known as a venture capital corporation” and an “authorized venture capital corporation”;
(6)  determine the conditions which must be met by a qualified corporation and a qualified investor during the term of a qualified investment;
(7)  while ensuring that the objectives of this Act with regard to the promotion of capitalization are respected and maintained, require that certain transactions be subject to the prior authorization of the Société de développement industriel du Québec in respect of
(a)  the sector of activity in which a qualified corporation is required to operate during the term of a qualified investment;
(b)  the use of funds resulting from a qualified investment by a qualified corporation;
(c)  substantial cash outflows that may be made by a qualified corporation.
1992, c. 46, s. 20.
© Gouvernement du Québec