I-3 - Taxation Act

Section 965.95.1 Disposition versions

2013-06-05

965.95.1. A capital pool company that, for the purposes of section 965.76 and in accordance with an exemption from filing a prospectus, makes a public share issue to a qualified mutual fund may be designated by the Minister as a qualified issuing corporation if, on the date of the exemption from filing a prospectus,

(a)  the issue is made concomitantly with an eligible transaction carried out by the capital pool company;

(b)  the capital pool company meets the requirements of paragraphs a and b of section 965.95;

(c)  the major portion of the proceeds of the issue of qualifying shares to the qualified mutual fund will be used for the carrying out of a concomitant eligible transaction whose purpose is, directly or indirectly, to continue an existing business that is carried on by a corporation that, on the date of the exemption from filing a prospectus, meets the requirements of paragraphs a to e of section 965.90; and

(d)  the Minister is of the opinion that the public share issue complies with the objectives of this Title.

For the purposes of the first paragraph, the Minister may require any document or information the Minister considers necessary to render an advance ruling on compliance with the objectives of this Title.

2013, c. 10, s. 80.