D-9 - Act to promote industrial development by means of fiscal advantages

Section 2 Disposition versions

1997-03-20

2. (1)  For the purposes of this Act the following expressions and words mean:

(a)  “company” : in addition to its ordinary meaning, a stock company or joint-stock company, except a company engaged in a business excluded in paragraph b;

(b)  “manufacturing or processing business” : a manufacturing or processing business within the meaning of the regulations, except however any business for the operation of gas or oil wells, or for mining, logging or farming operations, any construction or fishery business and any business whose principal activity is the wrapping, packaging, washing or sorting of products or merchandise;

(c)  “investment” : the sum of the amounts of money which have been invested by a company in a manufacturing or processing business, during any of its financial years, for the construction or extension of works or manufactories or the purchase of new machinery, tools or equipment for operating works or manufactories, to the extent allowed by the regulations but solely with respect to the portion of such sum which exceeds $50 000 if such amounts were invested during the period commencing on 1 April 1968 and ending on 31 March 1971, and if such amounts were invested during the period beginning on 1 April 1971 and ending on 31 March 1977, with respect to the entire sum so invested, up to $10 000 000, provided however that the sum so invested is at least $150 000;

(d)  “zone I”, “zone II” or “zone III”, as the case may be: any part of the territory of Québec described in the schedule as zone I, zone II or zone III;

(e)  “regulations” : the regulations made by the Government under this Act.

(2)  Every company engaged in the operation of a manufacturing or processing business in Québec may, in computing its taxable income, deduct an amount equal to 30 % of the investments made by it in Québec in such business during the period commencing on 1 April 1968 and ending on 31 March 1971.

(3)  Every company which is engaged in the operation of a manufacturing or processing business in Québec and which makes an investment contemplated in paragraph a of section 2 of the Industrial Development Assistance Act (chapter A-13) as it read on 22 June 1982, may, if a certificate has been issued with respect to such investment by the Minister of Industry, Trade, Science and Technology in accordance with subsection 4, in computing its taxable income, deduct:

(a)  an amount equal to 30 % of such investment if it was made in zone I during the period commencing on 1 April 1971 and ending on 31 March 1977,

(b)  an amount equal to 50 % of such investment if it was made in zone II during the period contemplated in paragraph a, or

(c)  an amount equal to 100 % of such investment if it was made in zone III during the period contemplated in paragraph a.

(4)  A company may avail itself of the advantages provided for in subsection 3 provided that a certificate has been issued to it by the Minister of Industry, Trade, Science and Technology that the investment with respect to which it claims such advantages is subject to the application of paragraph a of section 2 of the Industrial Development Assistance Act as it read on 22 June 1982; such certificate must mention whether the company is making the investments which entitle it to avail itself of the advantages provided in subsection 3 in zone I, zone II or in zone III.

(5)  Any amount which may be deducted under this section during a financial year but is not deducted may be deducted during subsequent financial years.

(6)  The amount which a company may deduct under this section for one of its financial years shall not exceed one-half of its taxable income established for the financial year concerned before such deduction is made.

(7)  The tax reduction obtained under this section shall not exceed 12 % of the amount which may be so deducted in computing the taxable income.

(8)  No subsidy or premium paid to a company under the Regional Development Incentives Act (Revised Statutes of Canada, 1970, chapter R-3) or the Regional Industrial Development Assistance Act (1968, chapter 27) or under an equivalent plan within the meaning of such Act shall be included in computing the company’s revenue, and it shall not reduce the cost of any property for the purpose of the capital cost allowance.

R. S. 1964, c. 67, s. 2 (part); 1966-67, c. 28, s. 1; 1968, c. 28, s. 1; 1971, c. 22, s. 1; 1971, c. 23, s. 1; 1972, c. 24, s. 2, s. 3; 1974, c. 20, s. 1; 1975, c. 23, s. 1; 1979, c. 77, s. 27; 1984, c. 36, s. 44; 1988, c. 41, s. 89; 1994, c. 16, s. 51; 1994, c. 22, s. 1; 1997, c. 3, s. 1.

1994-06-17

2. (1)  For the purposes of this Act the following expressions and words mean:

(a)  “company” : in addition to its ordinary meaning, a stock company or joint-stock company and a corporation legally constituted, whatever may be the nature and place of its constitution, except a company engaged in a business excluded in subparagraph b;

(b)  “manufacturing or processing business” : a manufacturing or processing business within the meaning of the regulations, except however any business for the operation of gas or oil wells, or for mining, logging or farming operations, any construction or fishery business and any business whose principal activity is the wrapping, packaging, washing or sorting of products or merchandise;

(c)  “investment” : the sum of the amounts of money which have been invested by a company in a manufacturing or processing business, during any of its financial years, for the construction or extension of works or manufactories or the purchase of new machinery, tools or equipment for operating works or manufactories, to the extent allowed by the regulations but solely with respect to the portion of such sum which exceeds $50 000 if such amounts were invested during the period commencing on 1 April 1968 and ending on 31 March 1971, and if such amounts were invested during the period beginning on 1 April 1971 and ending on 31 March 1977, with respect to the entire sum so invested, up to $10 000 000, provided however that the sum so invested is at least $150 000;

(d)  “zone I”, “zone II” or “zone III”, as the case may be: any part of the territory of Québec described in the schedule as zone I, zone II or zone III;

(e)  “regulations” : the regulations made by the Government under this Act.

(2)  Every company engaged in the operation of a manufacturing or processing business in Québec may, in computing its taxable income, deduct an amount equal to 30 % of the investments made by it in Québec in such business during the period commencing on 1 April 1968 and ending on 31 March 1971.

(3)  Every company which is engaged in the operation of a manufacturing or processing business in Québec and which makes an investment contemplated in paragraph a of section 2 of the Industrial Development Assistance Act (chapter A-13) as it read on 22 June 1982, may, if a certificate has been issued with respect to such investment by the Minister of Industry, Trade, Science and Technology in accordance with subsection 4, in computing its taxable income, deduct:

(a)  an amount equal to 30 % of such investment if it was made in zone I during the period commencing on 1 April 1971 and ending on 31 March 1977,

(b)  an amount equal to 50 % of such investment if it was made in zone II during the period contemplated in paragraph a, or

(c)  an amount equal to 100 % of such investment if it was made in zone III during the period contemplated in paragraph a.

(4)  A company may avail itself of the advantages provided for in subsection 3 provided that a certificate has been issued to it by the Minister of Industry, Trade, Science and Technology that the investment with respect to which it claims such advantages is subject to the application of paragraph a of section 2 of the Industrial Development Assistance Act as it read on 22 June 1982; such certificate must mention whether the company is making the investments which entitle it to avail itself of the advantages provided in subsection 3 in zone I, zone II or in zone III.

(5)  Any amount which may be deducted under this section during a financial year but is not deducted may be deducted during subsequent financial years.

(6)  The amount which a company may deduct under this section for one of its financial years shall not exceed one-half of its taxable income established for the financial year concerned before such deduction is made.

(7)  The tax reduction obtained under this section shall not exceed 12 % of the amount which may be so deducted in computing the taxable income.

(8)  No subsidy or premium paid to a company under the Regional Development Incentives Act (Revised Statutes of Canada, 1970, chapter R-3) or the Regional Industrial Development Assistance Act (1968, chapter 27) or under an equivalent plan within the meaning of such Act shall be included in computing the company’s revenue, and it shall not reduce the cost of any property for the purpose of the capital cost allowance.

R. S. 1964, c. 67, s. 2 (part); 1966-67, c. 28, s. 1; 1968, c. 28, s. 1; 1971, c. 22, s. 1; 1971, c. 23, s. 1; 1972, c. 24, s. 2, s. 3; 1974, c. 20, s. 1; 1975, c. 23, s. 1; 1979, c. 77, s. 27; 1984, c. 36, s. 44; 1988, c. 41, s. 89; 1994, c. 16, s. 51; 1994, c. 22, s. 1.

1988-12-21

2. (1)  For the purposes of this Act the following expressions and words mean:

(a)  “company” : in addition to its ordinary meaning, a stock company or joint-stock company and a corporation legally constituted, whatever may be the nature and place of its constitution, except a company engaged in a business excluded in subparagraph b;

(b)  “manufacturing or processing business” : a manufacturing or processing business within the meaning of the regulations, except however any business for the operation of gas or oil wells, or for mining, logging or farming operations, any construction or fishery business and any business whose principal activity is the wrapping, packaging, washing or sorting of products or merchandise;

(c)  “investment” : the sum of the amounts of money which have been invested by a company in a manufacturing or processing business, during any of its financial years, for the construction or extension of works or manufactories or the purchase of new machinery, tools or equipment for operating works or manufactories, to the extent allowed by the regulations but solely with respect to the portion of such sum which exceeds $50 000 if such amounts were invested during the period commencing on 1 April 1968 and ending on 31 March 1971, and if such amounts were invested during the period beginning on 1 April 1971 and ending on 31 March 1977, with respect to the entire sum so invested, up to $10 000 000, provided however that the sum so invested is at least $150 000;

(d)  “zone I”, “zone II” or “zone III”, as the case may be: any part of the territory of Québec described in the schedule as zone I, zone II or zone III;

(e)  “regulations” : the regulations made by the Government under this Act.

(2)  Every company engaged in the operation of a manufacturing or processing business in Québec may, in computing its taxable income, deduct an amount equal to 30 % of the investments made by it in such business during the period commencing on 1 April 1968 and ending on 31 March 1971.

(3)  Every company which is engaged in the operation of a manufacturing or processing business in Québec and which makes an investment contemplated in paragraph a of section 2 of the Industrial Development Assistance Act (chapter A-13) as it read on 22 June 1982, may, if a certificate has been issued with respect to such investment by the Minister of Industry, Trade and Technology in accordance with subsection 4, in computing its taxable income, deduct:

(a)  an amount equal to 30 % of such investment if it was made in zone I during the period commencing on 1 April 1971 and ending on 31 March 1977,

(b)  an amount equal to 50 % of such investment if it was made in zone II during the period contemplated in paragraph a, or

(c)  an amount equal to 100 % of such investment if it was made in zone III during the period contemplated in paragraph a.

(4)  A company may avail itself of the advantages provided for in subsection 3 provided that a certificate has been issued to it by the Minister of Industry, Trade and Technology that the investment with respect to which it claims such advantages is subject to the application of paragraph a of section 2 of the Industrial Development Assistance Act as it read on 22 June 1982; such certificate must mention whether the company is making the investments which entitle it to avail itself of the advantages provided in subsection 3 in zone I, zone II or in zone III.

(5)  Any amount which may be deducted under this section during a financial year but is not deducted may be deducted during subsequent financial years.

(6)  The amount which a company may deduct under this section for one of its financial years shall not exceed one-half of its taxable income established for the financial year concerned before such deduction is made.

(7)  The tax reduction obtained under this section shall not exceed 12 % of the amount which may be so deducted in computing the taxable income.

(8)  No subsidy or premium paid to a company under the Regional Development Incentives Act (Revised Statutes of Canada, 1970, chapter R-3) or the Regional Industrial Development Assistance Act (1968, chapter 27) or under an equivalent plan within the meaning of such Act shall be included in computing the company’s revenue, and it shall not reduce the cost of any property for the purpose of the capital cost allowance.

R. S. 1964, c. 67, s. 2 (part); 1966-67, c. 28, s. 1; 1968, c. 28, s. 1; 1971, c. 22, s. 1; 1971, c. 23, s. 1; 1972, c. 24, s. 2, s. 3; 1974, c. 20, s. 1; 1975, c. 23, s. 1; 1979, c. 77, s. 27; 1984, c. 36, s. 44; 1988, c. 41, s. 89.

1984-12-20

2. (1)  For the purposes of this act the following expressions and words mean:

(a)  “company” : in addition to its ordinary meaning, a stock company or joint-stock company and a corporation legally constituted, whatever may be the nature and place of its constitution, except a company engaged in a business excluded in sub-paragraph b;

(b)  “manufacturing or processing business” : a manufacturing or processing business within the meaning of the regulations, except however any business for the operation of gas or oil wells, or for mining, logging or farming operations, any construction or fishery business and any business whose principal activity is the wrapping, packaging, washing or sorting of products or merchandise;

(c)  “investment” : the sum of the amounts of money which have been invested by a company in a manufacturing or processing business, during any of its financial years, for the construction or extension of works or manufactories or the purchase of new machinery, tools or equipment for operating works or manufactories, to the extent allowed by the regulations but solely with respect to the portion of such sum which exceeds $50 000 if such amounts were invested during the period commencing on 1 April 1968 and ending on 31 March 1971, and if such amounts were invested during the period beginning on 1 April 1971 and ending on 31 March 1977, with respect to the entire sum so invested, up to $10 000 000, provided however that the sum so invested is at least $150 000;

(d)  “zone I”, “zone II” or “zone III”, as the case may be: any part of the territory of Québec described in the schedule as zone I, zone II or zone III;

(e)  “regulations” : the regulations made by the Government under this act.

(2)  Every company engaged in the operation of a manufacturing or processing business in Québec may, in computing its taxable income, deduct an amount equal to thirty per cent of the investments made by it in such business during the period commencing on 1 April 1968 and ending on 31 March 1971.

(3)  Every company which is engaged in the operation of a manufacturing or processing business in Québec and which makes an investment contemplated in paragraph a of section 2 of the Industrial Development Assistance Act (chapter A-13) as it read on 22 June 1982, may, if a certificate has been issued with respect to such investment by the Minister of Industry and Commerce in accordance with subsection 4, in computing its taxable income, deduct:

(a)  an amount equal to 30% of such investment if it was made in zone I during the period commencing on 1 April 1971 and ending on 31 March 1977,

(b)  an amount equal to 50% of such investment if it was made in zone II during the period contemplated in paragraph a, or

(c)  an amount equal to 100% of such investment if it was made in zone III during the period contemplated in paragraph a.

(4)  A company may avail itself of the advantages provided for in subsection 3 provided that a certificate has been issued to it by the Minister of Industry and Commerce that the investment with respect to which it claims such advantages is subject to the application of paragraph a of section 2 of the Industrial Development Assistance Act as it read on 22 June 1982; such certificate must mention whether the company is making the investments which entitle it to avail itself of the advantages provided in subsection 3 in zone I, zone II or in zone III.

(5)  Any amount which may be deducted under this section during a financial year but is not deducted may be deducted during subsequent financial years.

(6)  The amount which a company may deduct under this section for one of its financial years shall not exceed one-half of its taxable income established for the financial year concerned before such deduction is made.

(7)  The tax reduction obtained under this section shall not exceed 12% of the amount which may be so deducted in computing the taxable income.

(8)  No subsidy or premium paid to a company under the Regional Development Incentives Act (Revised Statutes of Canada, 1970, chapter R-3) or the Regional Industrial Development Assistance Act (1968, chapter 27) or under an equivalent plan within the meaning of such act shall be included in computing the company’s revenue, and it shall not reduce the cost of any property for the purpose of the capital cost allowance.

R. S. 1964, c. 67, s. 2 (part); 1966-67, c. 28, s. 1; 1968, c. 28, s. 1; 1971, c. 22, s. 1; 1971, c. 23, s. 1; 1972, c. 24, s. 2, s. 3; 1974, c. 20, s. 1; 1975, c. 23, s. 1; 1979, c. 77, s. 27; 1984, c. 36, s. 44.

1982-06-23

2. (1)  For the purposes of this act the following expressions and words mean:

(a)  “company” : in addition to its ordinary meaning, a stock company or joint-stock company and a corporation legally constituted, whatever may be the nature and place of its constitution, except a company engaged in a business excluded in sub-paragraph b;

(b)  “manufacturing or processing business” : a manufacturing or processing business within the meaning of the regulations, except however any business for the operation of gas or oil wells, or for mining, logging or farming operations, any construction or fishery business and any business whose principal activity is the wrapping, packaging, washing or sorting of products or merchandise;

(c)  “investment” : the sum of the amounts of money which have been invested by a company in a manufacturing or processing business, during any of its financial years, for the construction or extension of works or manufactories or the purchase of new machinery, tools or equipment for operating works or manufactories, to the extent allowed by the regulations but solely with respect to the portion of such sum which exceeds $50 000 if such amounts were invested during the period commencing on 1 April 1968 and ending on 31 March 1971, and if such amounts were invested during the period beginning on 1 April 1971 and ending on 31 March 1977, with respect to the entire sum so invested, up to $10 000 000, provided however that the sum so invested is at least $150 000;

(d)  “zone I”, “zone II” or “zone III”, as the case may be: any part of the territory of Québec described in the schedule as zone I, zone II or zone III;

(e)  “regulations” : the regulations made by the Government under this act.

(2)  Every company engaged in the operation of a manufacturing or processing business in Québec may, in computing its taxable income, deduct an amount equal to thirty per cent of the investments made by it in such business during the period commencing on 1 April 1968 and ending on 31 March 1971.

(3)  Every company which is engaged in the operation of a manufacturing or processing business in Québec and which makes an investment contemplated in paragraph a of section 2 of the Industrial Development Assistance Act (chapter A-13) as it read on 22 June 1982, may, if a certificate has been issued with respect to such investment by the Minister of Industry, Commerce and Tourism in accordance with subsection 4, in computing its taxable income, deduct:

(a)  an amount equal to thirty per cent of such investment if it was made in zone I during the period commencing on 1 April 1971 and ending on 31 March 1977,

(b)  an amount equal to fifty per cent of such investment if it was made in zone II during the period contemplated in paragraph a, or

(c)  an amount equal to one hundred per cent of such investment if it was made in zone III during the period contemplated in paragraph a.

(4)  A company may avail itself of the advantages provided for in subsection 3 provided that a certificate has been issued to it by the Minister of Industry, Commerce and Tourism that the investment with respect to which it claims such advantages is subject to the application of paragraph a of section 2 of the Industrial Development Assistance Act as it read on 22 June 1982; such certificate must mention whether the company is making the investments which entitle it to avail itself of the advantages provided in subsection 3 in zone I, zone II or in zone III.

(5)  Any amount which may be deducted under this section during a financial year but is not deducted may be deducted during subsequent financial years.

(6)  The amount which a company may deduct under this section for one of its financial years shall not exceed one-half of its taxable income established for the financial year concerned before such deduction is made.

(7)  The tax reduction obtained under this section shall not exceed twelve per cent of the amount which may be so deducted in computing the taxable income.

(8)  No subsidy or premium paid to a company under the Regional Development Incentives Act (Revised Statutes of Canada, 1970, chapter R-3) or the Regional Industrial Development Assistance Act (1968, chapter 27) or under an equivalent plan within the meaning of such act shall be included in computing the company’s revenue, and it shall not reduce the cost of any property for the purpose of the capital cost allowance.

R. S. 1964, c. 67, s. 2 (part); 1966-67, c. 28, s. 1; 1968, c. 28, s. 1; 1971, c. 22, s. 1; 1971, c. 23, s. 1; 1972, c. 24, s. 2, s. 3; 1974, c. 20, s. 1; 1975, c. 23, s. 1; 1979, c. 77, s. 27.

1980-01-24

2. (1)  For the purposes of this act the following expressions and words mean:

(a)  “company” : in addition to its ordinary meaning, a stock company or joint-stock company and a corporation legally constituted, whatever may be the nature and place of its constitution, except a company engaged in a business excluded in sub-paragraph b;

(b)  “manufacturing or processing business” : a manufacturing or processing business within the meaning of the regulations, except however any business for the operation of gas or oil wells, or for mining, logging or farming operations, any construction or fishery business and any business whose principal activity is the wrapping, packaging, washing or sorting of products or merchandise;

(c)  “investment” : the sum of the amounts of money which have been invested by a company in a manufacturing or processing business, during any of its financial years, for the construction or extension of works or manufactories or the purchase of new machinery, tools or equipment for operating works or manufactories, to the extent allowed by the regulations but solely with respect to the portion of such sum which exceeds $50,000 if such amounts were invested during the period commencing on 1 April 1968 and ending on 31 March 1971, and if such amounts were invested during the period beginning on 1 April 1971 and ending on 31 March 1977, with respect to the entire sum so invested, up to $10,000,000, provided however that the sum so invested is at least $150,000;

(d)  “zone I”, “zone II” or “zone III”, as the case may be: any part of the territory of Québec described in the schedule as zone I, zone II or zone III;

(e)  “regulations” : the regulations made by the Government under this act.

(2)  Every company engaged in the operation of a manufacturing or processing business in Québec may, in computing its taxable income, deduct an amount equal to thirty per cent of the investments made by it in such business during the period commencing on 1 April 1968 and ending on 31 March 1971.

(3)  Every company which is engaged in the operation of a manufacturing or processing business in Québec and which makes an investment contemplated in paragraph a of section 2 of the Industrial Development Assistance Act (chapter A-13) may, if a certificate has been issued with respect to such investment by the Minister of Industry, Commerce and Tourism in accordance with subsection 4, in computing its taxable income, deduct:

(a)  an amount equal to thirty per cent of such investment if it was made in zone I during the period commencing on 1 April 1971 and ending on 31 March 1977,

(b)  an amount equal to fifty per cent of such investment if it was made in zone II during the period contemplated in paragraph a, or

(c)  an amount equal to one hundred per cent of such investment if it was made in zone III during the period contemplated in paragraph a.

(4)  A company may avail itself of the advantages provided for in subsection 3 provided that a certificate has been issued to it by the Minister of Industry, Commerce and Tourism that the investment with respect to which it claims such advantages is subject to the application of paragraph a of section 2 of the Industrial Development Assistance Act; such certificate must mention whether the company is making the investments which entitle it to avail itself of the advantages provided in subsection 3 in zone I, zone II or in zone III.

(5)  Any amount which may be deducted under this section during a financial year but is not deducted may be deducted during subsequent financial years.

(6)  The amount which a company may deduct under this section for one of its financial years shall not exceed one-half of its taxable income established for the financial year concerned before such deduction is made.

(7)  The tax reduction obtained under this section shall not exceed twelve per cent of the amount which may be so deducted in computing the taxable income.

(8)  No subsidy or premium paid to a company under the Regional Development Incentives Act (Revised Statutes of Canada, 1970, chapter R-3) or the Regional Industrial Development Assistance Act (1968, chapter 27) or under an equivalent plan within the meaning of such act shall be included in computing the company’s revenue, and it shall not reduce the cost of any property for the purpose of the capital cost allowance.

R. S. 1964, c. 67, s. 2 (part); 1966-67, c. 28, s. 1; 1968, c. 28, s. 1; 1971, c. 22, s. 1; 1971, c. 23, s. 1; 1972, c. 24, s. 2, s. 3; 1974, c. 20, s. 1; 1975, c. 23, s. 1; 1979, c. 77, s. 27.

1977-12-31

2. (1)  For the purposes of this act the following expressions and words mean:

(a)  “company” : in addition to its ordinary meaning, a stock company or joint-stock company and a corporation legally constituted, whatever may be the nature and place of its constitution, except a company engaged in a business excluded in sub-paragraph b;

(b)  “manufacturing or processing business” : a manufacturing or processing business within the meaning of the regulations, except however any business for the operation of gas or oil wells, or for mining, logging or farming operations, any construction or fishery business and any business whose principal activity is the wrapping, packaging, washing or sorting of products or merchandise;

(c)  “investment” : the sum of the amounts of money which have been invested by a company in a manufacturing or processing business, during any of its financial years, for the construction or extension of works or manufactories or the purchase of new machinery, tools or equipment for operating works or manufactories, to the extent allowed by the regulations but solely with respect to the portion of such sum which exceeds $50,000 if such amounts were invested during the period commencing on 1 April 1968 and ending on 31 March 1971, and if such amounts were invested during the period beginning on 1 April 1971 and ending on 31 March 1977, with respect to the entire sum so invested, up to $10,000,000, provided however that the sum so invested is at least $150,000;

(d)  “zone I”, “zone II” or “zone III”, as the case may be: any part of the territory of Québec described in the schedule as zone I, zone II or zone III;

(e)  “regulations” : the regulations made by the Gouvernement under this act.

(2)  Every company engaged in the operation of a manufacturing or processing business in Québec may, in computing its taxable income, deduct an amount equal to thirty per cent of the investments made by it in such business during the period commencing on 1 April 1968 and ending on 31 March 1971.

(3)  Every company which is engaged in the operation of a manufacturing or processing business in Québec and which makes an investment contemplated in paragraph a of section 2 of the Industrial Development Assistance Act (chapter A-13) may, if a certificate has been issued with respect to such investment by the Minister of Industry and Commerce in accordance with subsection 4, in computing its taxable income, deduct:

(a)  an amount equal to thirty per cent of such investment if it was made in zone I during the period commencing on 1 April 1971 and ending on 31 March 1977,

(b)  an amount equal to fifty per cent of such investment if it was made in zone II during the period contemplated in paragraph a, or

(c)  an amount equal to one hundred per cent of such investment if it was made in zone III during the period contemplated in paragraph a.

(4)  A company may avail itself of the advantages provided for in subsection 3 provided that a certificate has been issued to it by the Minister of Industry and Commerce that the investment with respect to which it claims such advantages is subject to the application of paragraph a of section 2 of the Industrial Development Assistance Act; such certificate must mention whether the company is making the investments which entitle it to avail itself of the advantages provided in subsection 3 in zone I, zone II or in zone III.

(5)  Any amount which may be deducted under this section during a financial year but is not deducted may be deducted during subsequent financial years.

(6)  The amount which a company may deduct under this section for one of its financial years shall not exceed one-half of its taxable income established for the financial year concerned before such deduction is made.

(7)  The tax reduction obtained under this section shall not exceed twelve per cent of the amount which may be so deducted in computing the taxable income.

(8)  No subsidy or premium paid to a company under the Regional Development Incentives Act (Revised Statutes of Canada, 1970, chapter R-3) or the Regional Industrial Development Assistance Act (1968, chapter 27) or under an equivalent plan within the meaning of such act shall be included in computing the company’s revenue, and it shall not reduce the cost of any property for the purpose of the capital cost allowance.

R. S. 1964, c. 67, s. 2 (part); 1966-67, c. 28, s. 1; 1968, c. 28, s. 1; 1971, c. 22, s. 1; 1971, c. 23, s. 1; 1972, c. 24, s. 2, s. 3; 1974, c. 20, s. 1; 1975, c. 23, s. 1.