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I-3 - Taxation Act
Section 1049.14.3
Disposition versions
1049.14.3. If a corporation makes a public issue of shares with the stipulation that they can be included in a stock savings plan II and if the shares are not listed on a designated stock exchange located in Canada within 60 days of the date of the receipt for the final prospectus or of the exemption from filing a prospectus in respect of their issue, the corporation incurs a penalty equal to 25% of the adjusted cost, determined under section 965.123, of each share of the issue distributed in Québec to an individual or to a qualified mutual fund.
1049.14.3. If a corporation makes a public issue of shares with the stipulation that they can be included in an SME growth stock plan and if the shares are not listed on a Canadian stock exchange within 60 days of the date of the receipt for the final prospectus or of the exemption from filing a prospectus in respect of their issue, the corporation incurs a penalty equal to 25% of the adjusted cost, determined under section 965.123, of each share of the issue distributed in Québec to an individual or to a qualified mutual fund.
