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

Section 5 Disposition versions

2011-04-01

5. If it is of the opinion that an investment meets the objectives pursued by this Act, the body designated under section 1 may

(1)  extend, in the case of a fledgling legal person, for the period it considers necessary according to the circumstances, the time limit of 4 months prescribed in section 4 for meeting the requirement set out in subparagraph 5 of the first paragraph of section 3;

(2)  if an application therefor is filed with it before the date of the investment, admit a lower percentage as regards the requirement set out in subparagraph 4 of the first paragraph of section 3, for the last 12 months preceding the date of acquisition of an investment or for the period preceding that date in the case of a legal person which has been in operation for less than 12 months;

(3)  authorize a qualified investor and a qualified legal person to deal otherwise than at arm’s length to the extent that a transaction takes place in order to prevent the bankruptcy of the qualified legal person or for business reasons, such as financial problems, reorganization or financial requirements relating to major events.

1992, c. 46, s. 5; 1998, c. 17, s. 64; 1999, c. 40, s. 34; 2001, c. 69, s. 12; 2010, c. 37, s. 91.

2001-12-20

5. If it is of the opinion that an investment meets the objectives pursued by this Act, La Financière du Québec may

(1)  extend, in the case of a fledgling legal person, for the period it considers necessary according to the circumstances, the time limit of 4 months prescribed in section 4 for meeting the requirement set out in subparagraph 5 of the first paragraph of section 3;

(2)  if an application therefor is filed with it before the date of the investment, admit a lower percentage as regards the requirement set out in subparagraph 4 of the first paragraph of section 3, for the last 12 months preceding the date of acquisition of an investment or for the period preceding that date in the case of a legal person which has been in operation for less than 12 months;

(3)  authorize a qualified investor and a qualified legal person to deal otherwise than at arm’s length to the extent that a transaction takes place in order to prevent the bankruptcy of the qualified legal person or for business reasons, such as financial problems, reorganization or financial requirements relating to major events.

1992, c. 46, s. 5; 1998, c. 17, s. 64; 1999, c. 40, s. 34; 2001, c. 69, s. 12.

1999-10-22

5. If it is of the opinion that an investment meets the objectives pursued by this Act, Garantie Québec may

(1)  extend, in the case of a fledgling legal person, for the period it considers necessary according to the circumstances, the time limit of 4 months prescribed in section 4 for meeting the requirement set out in subparagraph 5 of the first paragraph of section 3;

(2)  if an application therefor is filed with it before the date of the investment, admit a lower percentage as regards the requirement set out in subparagraph 4 of the first paragraph of section 3, for the last 12 months preceding the date of acquisition of an investment or for the period preceding that date in the case of a legal person which has been in operation for less than 12 months;

(3)  authorize a qualified investor and a qualified legal person to deal otherwise than at arm’s length to the extent that a transaction takes place in order to prevent the bankruptcy of the qualified legal person or for business reasons, such as financial problems, reorganization or financial requirements relating to major events.

1992, c. 46, s. 5; 1998, c. 17, s. 64; 1999, c. 40, s. 34.

1998-08-21

5. If it is of the opinion that an investment meets the objectives pursued by this Act, Garantie-Québec may

(1)  extend, in the case of a fledgling corporation, for the period it considers necessary according to the circumstances, the time limit of 4 months prescribed in section 4 for meeting the requirement set out in subparagraph 5 of the first paragraph of section 3;

(2)  if an application therefor is filed with it before the date of the investment, admit a lower percentage as regards the requirement set out in subparagraph 4 of the first paragraph of section 3, for the last 12 months preceding the date of acquisition of an investment or for the period preceding that date in the case of a corporation which has been in operation for less than 12 months;

(3)  authorize a qualified investor and a qualified corporation to deal otherwise than at arm’s length to the extent that a transaction takes place in order to prevent the bankruptcy of the qualified corporation or for business reasons, such as financial problems, reorganization or financial requirements relating to major events.

1992, c. 46, s. 5; 1998, c. 17, s. 64.

1992-06-23

5. If it is of the opinion that an investment meets the objectives pursued by this Act, the Société de développement industriel du Québec may

(1)  extend, in the case of a fledgling corporation, for the period it considers necessary according to the circumstances, the time limit of 4 months prescribed in section 4 for meeting the requirement set out in subparagraph 5 of the first paragraph of section 3;

(2)  if an application therefor is filed with it before the date of the investment, admit a lower percentage as regards the requirement set out in subparagraph 4 of the first paragraph of section 3, for the last 12 months preceding the date of acquisition of an investment or for the period preceding that date in the case of a corporation which has been in operation for less than 12 months;

(3)  authorize a qualified investor and a qualified corporation to deal otherwise than at arm’s length to the extent that a transaction takes place in order to prevent the bankruptcy of the qualified corporation or for business reasons, such as financial problems, reorganization or financial requirements relating to major events.

1992, c. 46, s. 5.