I-3 - Taxation Act

Section 1049.1 Disposition versions

2017-12-07

1049.1. (Repealed).

1979, c. 14, s. 5; 1983, c. 44, s. 44; 1985, c. 25, s. 153; 1986, c. 15, s. 185; 1987, c. 21, s. 75; 1988, c. 4, s. 130; 1990, c. 7, s. 172; 1997, c. 3, s. 71; 2017, c. 29, s. 201.

2006-03-01

1049.1. Where a corporation stipulates falsely, in its final prospectus or an application for exemption from filing a prospectus relating to a share issue, that the issued shares may be included in a stock savings plan described in section 965.2, it incurs a penalty equal to 25% of the adjusted cost that would be determined under section 965.6 if the stipulation of the corporation were true, of each share of the issue distributed in Québec to an individual other than a trust, to an investment group or to an investment fund.

Where a corporation stipulates, in a final prospectus or an application for exemption from filing a prospectus relating to a share issue, in respect of shares that may be included in a stock savings plan described in section 965.2, an adjusted cost other than that determined under section 965.6, it incurs a penalty equal to 25% of the amount by which the adjusted cost so stipulated in respect of each share of the public issue distributed in Québec to an individual other than a trust, to an investment group or to an investment fund exceeds the adjusted cost determined under section 965.6 in respect of each such share.

1979, c. 14, s. 5; 1983, c. 44, s. 44; 1985, c. 25, s. 153; 1986, c. 15, s. 185; 1987, c. 21, s. 75; 1988, c. 4, s. 130; 1990, c. 7, s. 172; 1997, c. 3, s. 71.