I-3 - Taxation Act

Section 965.24.1.3 Disposition versions

2017-12-07

965.24.1.3. (Repealed).

1992, c. 1, s. 135; 1997, c. 3, s. 71; 2003, c. 9, s. 156; 2017, c. 29, s. 166.

2006-03-01

965.24.1.3. A qualified corporation that is a growth corporation and that makes an issue of non-guaranteed convertible securities which may be redeemed or repaid by the corporation or purchased by anyone in any manner whatever, under the conditions pertaining to their issue, shall, where the custody of part or the aggregate of the securities has been entrusted to a dealer under a stock savings plan, file with the Minister, at a particular time and not later than 60 days after the date on which the issue ends, a prescribed form indicating the fraction of the aggregate of the securities the custody of which has been entrusted to the dealer under the stock savings plan at that particular time.

Where the corporation fails to file the prescribed form with the Minister within the prescribed time, it is deemed to have indicated, at the end of that period, that the custody of the aggregate of the non-guaranteed convertible securities has been entrusted to a dealer under a stock savings plan.

The presumption provided in the second paragraph shall cease to apply at the time when the corporation files the prescribed form with the Minister, indicating the fraction of the aggregate of the non-guaranteed convertible securities the custody of which has been entrusted to a dealer under a stock savings plan at that time.

1992, c. 1, s. 135; 1997, c. 3, s. 71; 2003, c. 9, s. 156.