I-3 - Taxation Act

Section 1049.2.9 Disposition versions

2017-12-07

1049.2.9. (Repealed).

1990, c. 7, s. 187; 1992, c. 1, s. 197; 1997, c. 3, s. 71; 2002, c. 45, s. 521; 2003, c. 9, s. 381; 2004, c. 37, s. 90; 2017, c. 29, s. 201.

2006-03-01

1049.2.9. A corporation that is, in a year, authorized to issue shares of its capital stock under an exemption from filing a prospectus granted under any of subparagraphs 2, 3 and 5 of the first paragraph of section 52 of the Securities Act (chapter V-1.1) with the stipulation that they may be included in a stock savings plan, that is, in that year, a corporation described in the first paragraph of section 965.24.2, that fails to file with the Autorité des marchés financiers and the Minister the written notice referred to in the first paragraph of section 965.24.2 within the time prescribed, that should have certified in the notice, had it been filed, that on 30 June in that year, as a result of a transaction, it would not have been a qualified corporation by reason of the first paragraph of any of sections 965.11.11, 965.11.13 and 965.11.17, had that first paragraph applied on that date, and that issues a share under such exemption from filing a prospectus in the year following that year, is liable to a penalty equal to 25% of the adjusted cost, determined under section 965.6, of each share distributed in Québec, in the year following that year under the exemption from filing a prospectus, to an individual other than a trust, to an investment group or to an investment fund.

1990, c. 7, s. 187; 1992, c. 1, s. 197; 1997, c. 3, s. 71; 2002, c. 45, s. 521; 2003, c. 9, s. 381; 2004, c. 37, s. 90.