Consolidated Statutes and Regulations
Consolidated Statutes
Consolidated Regulations
Annual Statutes and Regulations
Annual Statutes
Annual Regulations
Additional information
Québec Official Publisher
What’s new?
Information note
Policy of the Minister of Justice
Laws: Amendments
Laws: Provisions not in force
Laws: Provisions brought into force
Annual Statutes: PDF versions since 1996
Regulations: Amendments
Annual Regulations: PDF versions since 1996
Court Decisions
I-3 - Taxation Act
Section 1049.11.1.2
Disposition versions
1049.11.1.2. Where a qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), benefits from a qualified investment referred to in section 12.1 of that Act and, at the expiry of the time limit fixed in paragraph 2 of that section 12.1 or, as the case may be, extended by the body designated under section 1 of that Act under paragraph 2 of section 13.2 of that Act, it does not operate in a sector of activity prescribed in the regulations made under paragraph 4 of section 16 of that Act, the qualified legal person incurs a penalty equal to 40% of the total amount of the investment.
1049.11.1.2. Where a qualified legal person, within the meaning of the Act respecting Québec business investment companies (chapter S-29.1), benefits from a qualified investment referred to in section 12.1 of that Act and, at the expiry of the time limit fixed in paragraph 2 of that section 12.1 or, as the case may be, extended by Investissement Québec under paragraph 2 of section 13.2 of that Act, it does not operate in a sector of activity prescribed in the regulations made under paragraph 4 of section 16 of that Act, the qualified legal person incurs a penalty equal to 40% of the total amount of the investment.
