I-3 - Taxation Act

Section 1129.12.12 Disposition versions

2013-06-05

1129.12.12. In this Part,

“investment under the plan” means any investment held by a qualified cooperative in the form of a share of the capital stock of the corporation that employs its members, or of a debenture issued by the corporation, provided that the debenture was held continuously by the cooperative throughout a 120-day period including the determination time of investments in the corporation;

“qualification certificate” means a qualification certificate issued either under section 11 of the Cooperative Investment Plan Act (chapter R-8.1.1), as it read before being repealed or under section 5.5 of Schedule C to the Act respecting the sectoral parameters of certain fiscal measures (chapter P-5.1);

“qualified cooperative” has the meaning assigned by the first paragraph of section 2 of the Cooperative Investment Plan Act;

“qualifying security” has the meaning assigned by the first paragraph of section 2 of the Cooperative Investment Plan Act.

For the purposes of this Part, a reference to a calendar year ending in a taxation year includes a reference to a calendar year ending coincidentally with that taxation year.

2006, c. 37, s. 52; 2007, c. 12, s. 304; 2012, c. 1, s. 68; 2013, c. 10, s. 155.

2012-03-05

1129.12.12. In this Part,

“investment under the plan” means any investment held by a qualified cooperative in the form of a share of the capital stock of the corporation that employs its members, or of a debenture issued by the corporation, provided that the debenture was held continuously by the cooperative throughout a 120-day period including the determination time of investments in the corporation;

“determination time of investments” in a corporation means

(a)  in the case of subparagraph a of the second paragraph of section 1129.12.14, the end of the particular calendar year referred to in the first paragraph of that section;

(b)  in the case of subparagraph b of the second paragraph of section 1129.12.14, the time immediately preceding the time at which the qualified cooperative is issued its first qualification certificate; and

(c)  in the case of subparagraph c of the second paragraph of section 1129.12.14, the transition time applicable to the qualified cooperative;

“qualification certificate” means a qualification certificate issued either under section 11 of the Cooperative Investment Plan Act (chapter R-8.1.1), as it read before being repealed or under section 5.5 of Schedule C to the Act respecting the sectoral parameters of certain fiscal measures (chapter P-5.1);

“qualified cooperative” has the meaning assigned by the first paragraph of section 2 of the Cooperative Investment Plan Act;

“qualifying security” has the meaning assigned by the first paragraph of section 2 of the Cooperative Investment Plan Act;

“specified percentage” means,

(a)  if the cooperative was established before 24 March 2006 and the particular calendar year referred to in section 1129.12.13 precedes the year 2012 and is not a year in which the cooperative made an investment under the plan, other than such an investment made before that date, a percentage of 165%; and

(b)  in any other case, a percentage of 115%;

“transition time” applicable to a qualified cooperative means the time that immediately precedes 1 January 2012 or, if it is earlier, the time that immediately precedes the acquisition, after 23 March 2006, of an investment under the plan by the qualified cooperative.

For the purposes of this Part, a reference to a calendar year ending in a taxation year includes a reference to a calendar year ending coincidentally with that taxation year.

2006, c. 37, s. 52; 2007, c. 12, s. 304; 2012, c. 1, s. 68.

2007-11-07

1129.12.12. In this Part,

“investment under the plan” means any investment held by a qualified cooperative in the form of a share of the capital stock of the corporation that employs its members, or of a debenture issued by the corporation, provided that the debenture was held continuously by the cooperative throughout a 120-day period including the determination time of investments in the corporation;

“determination time of investments” in a corporation means

(a)  in the case of subparagraph a of the second paragraph of section 1129.12.14, the end of the particular calendar year referred to in the first paragraph of that section;

(b)  in the case of subparagraph b of the second paragraph of section 1129.12.14, the time immediately preceding the time at which the qualified cooperative is issued its first qualification certificate; and

(c)  in the case of subparagraph c of the second paragraph of section 1129.12.14, the transition time applicable to the qualified cooperative;

“qualification certificate” means a qualification certificate issued under section 11 of the Cooperative Investment Plan Act (chapter R-8.1.1);

“qualified cooperative” has the meaning assigned by the first paragraph of section 2 of the Cooperative Investment Plan Act;

“qualifying security” has the meaning assigned by the first paragraph of section 2 of the Cooperative Investment Plan Act;

“specified percentage” means,

(a)  if the cooperative was established before 24 March 2006 and the particular calendar year referred to in section 1129.12.13 precedes the year 2012 and is not a year in which the cooperative made an investment under the plan, other than such an investment made before that date, a percentage of 165%; and

(b)  in any other case, a percentage of 115%;

“transition time” applicable to a qualified cooperative means the time that immediately precedes 1 January 2012 or, if it is earlier, the time that immediately precedes the acquisition, after 23 March 2006, of an investment under the plan by the qualified cooperative.

For the purposes of this Part, a reference to a calendar year ending in a taxation year includes a reference to a calendar year ending coincidentally with that taxation year.

2006, c. 37, s. 52; 2007, c. 12, s. 304.

2006-12-06

1129.12.12. In this Part,

“investment under the plan” means any investment held by a qualified cooperative in the form of a share of the capital stock of the corporation that employs its members, or of a debenture issued by the corporation, provided that the debenture was held continuously by the cooperative throughout a 120-day period including the determination time of investments in the corporation;

“determination time of investments” in a corporation means

(a)  in the case of subparagraph a of the second paragraph of section 1129.12.14, the end of the particular calendar year referred to in the first paragraph of that section;

(b)  in the case of subparagraph b of the second paragraph of section 1129.12.14, the time immediately preceding the time at which the qualified cooperative is issued its first qualification certificate; and

(c)  in the case of subparagraph c of the second paragraph of section 1129.12.14, the transition time applicable to the qualified cooperative;

“Minister” means the Minister of Revenue;

“qualification certificate” means a qualification certificate issued under section 11 of the Cooperative Investment Plan Act (chapter R-8.1.1);

“qualified cooperative” has the meaning assigned by the first paragraph of section 2 of the Cooperative Investment Plan Act;

“qualifying security” has the meaning assigned by the first paragraph of section 2 of the Cooperative Investment Plan Act;

“specified percentage” means,

(a)  if the cooperative was established before 24 March 2006 and the particular calendar year referred to in section 1129.12.13 precedes the year 2012 and is not a year in which the cooperative made an investment under the plan, other than such an investment made before that date, a percentage of 165%; and

(b)  in any other case, a percentage of 115%;

“taxation year” has the meaning assigned by Part I;

“transition time” applicable to a qualified cooperative means the time that immediately precedes 1 January 2012 or, if it is earlier, the time that immediately precedes the acquisition, after 23 March 2006, of an investment under the plan by the qualified cooperative.

For the purposes of this Part, a reference to a calendar year ending in a taxation year includes a reference to a calendar year ending coincidentally with that taxation year.

2006, c. 37, s. 52.